Thursday, October 22, 2020

For CNX Resources Corporation [CNX], Stifel sees a rise to $13. What next?

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CNX Resources Corporation [NYSE: CNX] stock went on an upward path that rose over 1.76% on Thursday, amounting to a one-week price decrease of less than -0.57%. The company report on October 16, 2020 that CNX Resources Corporation Announces Third Quarter 2020 Financial Results and Conference Call Schedule.

CNX Resources Corp. (NYSE: CNX) will announce its financial results for Q3 2020 at 6:45 a.m. Eastern Time on Thursday, October 29. At that time, CNX will issue a brief press release containing a link to presentation materials providing a Q3 2020 update, which will be available on CNX’s Investor Relations website. This release will be followed by a conference call and webcast.

Conference Call Information.

Over the last 12 months, CNX stock rose by 42.10%. The one-year CNX Resources Corporation stock forecast points to a potential upside of 23.31. The average equity rating for CNX stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.31 billion, with 187.32 million shares outstanding and 185.21 million shares in the current float. Compared to the average trading volume of 4.60M shares, CNX stock reached a trading volume of 2592684 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on CNX Resources Corporation [CNX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNX shares is $13.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for CNX Resources Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 09, 2020. While these analysts kept the previous recommendation, CapitalOne raised their target price to Overweight. The new note on the price target was released on September 23, 2020, representing the official price target for CNX Resources Corporation stock. Previously, the target price had yet another raise to $11, while MKM Partners analysts kept a Neutral rating on CNX stock.

The Average True Range (ATR) for CNX Resources Corporation is set at 0.54, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 1.95. The Price to Book ratio for the last quarter was 0.52, with the Price to Cash per share for the same quarter was set at 0.09.

CNX Stock Performance Analysis:

CNX Resources Corporation [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.57. With this latest performance, CNX shares dropped by -6.87% in over the last four-week period, additionally sinking by -1.88% over the last 6 months – not to mention a rise of 42.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNX stock in for the last two-week period is set at 48.54, with the RSI for the last a single of trading hit 52.23, and the three-weeks RSI is set at 50.26 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 10.75, while it was recorded at 10.52 for the last single week of trading, and 9.05 for the last 200 days.

Insight into CNX Resources Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and CNX Resources Corporation [CNX] shares currently have an operating margin of +16.67 and a Gross Margin at +31.01. CNX Resources Corporation’s Net Margin is presently recorded at -5.22.

Return on Total Capital for CNX is now 3.35, given the latest momentum, and Return on Invested Capital for the company is -1.17. Return on Equity for this stock declined to -1.90, with Return on Assets sitting at -0.90. When it comes to the capital structure of this company, CNX Resources Corporation [CNX] has a Total Debt to Total Equity ratio set at 70.70. Additionally, CNX Total Debt to Total Capital is recorded at 41.42, with Total Debt to Total Assets ending up at 32.46. Long-Term Debt to Equity for the company is recorded at 69.04, with the Long-Term Debt to Total Capital now at 40.45.

Reflecting on the efficiency of the workforce at the company, CNX Resources Corporation [CNX] managed to generate an average of -$172,869 per employee. Receivables Turnover for the company is 4.97 with a Total Asset Turnover recorded at a value of 0.17.CNX Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

CNX Stock EPS

With the latest financial reports released by the company, CNX Resources Corporation posted 0/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CNX Resources Corporation go to 35.70%.

CNX Resources Corporation [CNX] Insider Position Details

There are presently around $2,150 million, or 81.70% of CNX stock, in the hands of institutional investors. The top three institutional holders of CNX stocks are: SOUTHEASTERN ASSET MANAGEMENT INC/TN/ with ownership of 36,987,101, which is approximately -23.433% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 21,891,939 shares of the stock with an approximate value of $228.33 million in CNX stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $163.98 million in CNX stock with ownership of nearly 1.541% of the company’s market capitalization.

Positions in CNX Resources Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 171 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 39,036,440 shares. Additionally, 126 investors decreased positions by around 32,728,433 shares, while 39 investors held positions by with 134,350,304 shares. The mentioned changes placed institutional holdings at 206,115,177 shares, according to the latest SEC report filing. CNX stock had 75 new institutional investments in for a total of 21,389,313 shares, while 43 institutional investors sold positions of 5,971,330 shares during the same period.

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