why CNX Resources Corporation [CNX] is a Good Choice for Investors After New Price Target of $21.10


CNX Resources Corporation [NYSE: CNX] closed the trading session at $19.70 on 03/24/22. The day’s price range saw the stock hit a low of $19.10, while the highest price level was $19.715. The company report on February 10, 2022 that CNX Announces Proved Reserves of 9.63 Tcfe.

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CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced today, total proved reserves of 9.63 Tcfe, as of December 31, 2021. CNX organically added 907 Bcfe of proved reserves through extensions and discoveries, which resulted in the company replacing over 153% of its 2021 net production of 590 Bcfe.

Proved developed reserves increased to 5.9 Tcfe as of December 31, 2021, an increase of 13.5% compared to proved developed reserves of 5.2 Tcfe as of December 31, 2020. Proved developed finding and development costs (PD F&D), which is the net capital required to develop the wells that were turned-in-line in 2021 divided by the net total expected ultimate recoveries (EUR) in Mcfe resulted in an average PD F&D of $0.36 per Mcfe.

The stocks have a year to date performance of 43.27 percent and weekly performance of 5.80 percent. The stock has been moved at 64.85 percent over the last six months. The stock has performed 25.48 percent around the most recent 30 days and changed 42.24 percent over the most recent 3-months.

If compared to the average trading volume of 3.47M shares, CNX reached to a volume of 3427075 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $21.10 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 2.60. 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 Neutral, with their previous recommendation back on December 07, 2021. The new note on the price target was released on October 26, 2021, representing the official price target for CNX Resources Corporation stock. Previously, the target price had yet another drop from $15 to $13, while BMO Capital Markets kept a Market Perform rating on CNX stock. On July 08, 2021, analysts increased their price target for CNX shares from 15 to 16.

The Average True Range (ATR) for CNX Resources Corporation is set at 0.72, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 1.72. The Price to Book ratio for the last quarter was 1.11, with the Price to Cash per share for the same quarter was set at 0.02. Price to Free Cash Flow for CNX in the course of the last twelve months was 8.55 with Quick ratio for the last quarter at 0.50.

CNX stock trade performance evaluation

CNX Resources Corporation [CNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.80. With this latest performance, CNX shares gained by 25.48% in over the last four-week period, additionally plugging by 64.85% over the last 6 months – not to mention a rise of 34.56% 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 73.15, with the RSI for the last a single of trading hit 76.59, and the three-weeks RSI is set at 70.18 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 16.49, while it was recorded at 19.15 for the last single week of trading, and 14.07 for the last 200 days.

CNX Resources Corporation [CNX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CNX Resources Corporation [CNX] shares currently have an operating margin of +48.61 and a Gross Margin at +55.80. CNX Resources Corporation’s Net Margin is presently recorded at -20.92.

Return on Equity for this stock declined to -12.28, with Return on Assets sitting at -6.18.

CNX Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Earnings per share (EPS) analysis for CNX Resources Corporation [CNX] stock

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 Ownership positions

There are presently around $3,634 million, or 95.90% 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 27,462,211, which is approximately -2.494% of the company’s market cap and around 1.40% of the total institutional ownership; BLACKROCK INC., holding 25,238,655 shares of the stock with an approximate value of $482.56 million in CNX stocks shares; and VANGUARD GROUP INC, currently with $352.6 million in CNX stock with ownership of nearly -3.157% 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 113 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 8,612,863 shares. Additionally, 166 investors decreased positions by around 12,903,663 shares, while 46 investors held positions by with 168,570,965 shares. The mentioned changes placed institutional holdings at 190,087,491 shares, according to the latest SEC report filing. CNX stock had 44 new institutional investments in for a total of 4,478,754 shares, while 36 institutional investors sold positions of 1,974,859 shares during the same period.