CNX Resources Corporation [NYSE: CNX] traded at a low on 02/18/21, posting a -0.43 loss after which it closed the day’ session at $13.97. The company report on February 9, 2021 that CNX Announces 13% Increase in Proved Reserves to 9.55 Tcfe.
CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced total proved reserves of 9.55 Tcfe, as of December 31, 2020, which is a 13% increase, compared to the previous year. CNX organically added 2,247 Bcfe of proved reserves through extensions and discoveries, which resulted in the company replacing over 440% of its 2020 net production of 511 Bcfe.
“The take-in transaction of CNX Midstream Partners LP resulted in a positive impact to our year-end PV-10 and proved reserves by structurally lowering CNX’s operating costs, which materially offset the impact of the lower SEC commodity price in 2020,” commented Yemi Akinkugbe, Chief Excellence Office. “We do not believe that our peers can replicate our cost structure, which should provide CNX with superior economic inventory for decades to come.”.
The results of the trading session contributed to over 5982966 shares changing hands. Over the past one week, the price volatility of CNX Resources Corporation stands at 6.32% while the volatility over the past one month is 6.25%.
The market cap for CNX stock reached $2.88 billion, with 223.86 million shares outstanding and 214.05 million shares in the current float. Compared to the average trading volume of 4.00M shares, CNX reached a trading volume of 5982966 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $15.18 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 2.20. 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.
JP Morgan have made an estimate for CNX Resources Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 15, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on December 15, 2020, representing the official price target for CNX Resources Corporation stock. Previously, the target price had yet another raise from $11 to $12, while MKM Partners kept a Buy rating on CNX stock.
The Average True Range (ATR) for CNX Resources Corporation is set at 0.77, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 0.71, with the Price to Cash per share for the same quarter was set at 0.08. Price to Free Cash Flow for CNX in the course of the last twelve months was 9.37 with Quick ratio for the last quarter at 0.60.
How has CNX stock performed recently?
CNX Resources Corporation [CNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.13. With this latest performance, CNX shares gained by 8.55% in over the last four-week period, additionally plugging by 18.29% over the last 6 months – not to mention a rise of 117.94% 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 62.33, with the RSI for the last a single of trading hit 64.55, and the three-weeks RSI is set at 61.05 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 12.05, while it was recorded at 13.52 for the last single week of trading, and 10.55 for the last 200 days.
CNX Resources Corporation [CNX]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and CNX Resources Corporation [CNX] shares currently have an operating margin of -7.08 and a Gross Margin at +10.86. CNX Resources Corporation’s Net Margin is presently recorded at -44.55.
Return on Total Capital for CNX is now -1.03, given the latest momentum, and Return on Invested Capital for the company is -6.96. Return on Equity for this stock declined to -11.27, with Return on Assets sitting at -5.66. When it comes to the capital structure of this company, CNX Resources Corporation [CNX] has a Total Debt to Total Equity ratio set at 57.38. Additionally, CNX Total Debt to Total Capital is recorded at 36.46, with Total Debt to Total Assets ending up at 31.56. Long-Term Debt to Equity for the company is recorded at 55.53, with the Long-Term Debt to Total Capital now at 35.28.
Reflecting on the efficiency of the workforce at the company, CNX Resources Corporation [CNX] managed to generate an average of -$1,072,672 per employee. Receivables Turnover for the company is 6.04 with a Total Asset Turnover recorded at a value of 0.13.CNX Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
Earnings analysis for CNX Resources Corporation [CNX]
With the latest financial reports released by the company, CNX Resources Corporation posted 0.61/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 369.20%. 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%.
Insider trade positions for CNX Resources Corporation [CNX]
There are presently around $2,805 million, or 97.90% 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 35,507,974, which is approximately -0.222% of the company’s market cap and around 1.50% of the total institutional ownership; BLACKROCK INC., holding 25,986,110 shares of the stock with an approximate value of $363.03 million in CNX stocks shares; and VANGUARD GROUP INC, currently with $250.18 million in CNX stock with ownership of nearly 15.502% of the company’s market capitalization.
Positions in CNX Resources Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 136 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 26,234,048 shares. Additionally, 126 investors decreased positions by around 26,103,109 shares, while 47 investors held positions by with 148,434,122 shares. The mentioned changes placed institutional holdings at 200,771,279 shares, according to the latest SEC report filing. CNX stock had 41 new institutional investments in for a total of 3,331,370 shares, while 46 institutional investors sold positions of 11,508,292 shares during the same period.