CNX Resources Corporation [NYSE: CNX] stock went on a downward path that fall over -0.52% on Thursday, amounting to a one-week price increase of more than 11.71%. The company report on October 6, 2022 that CNX Resources Corporation Announces Third Quarter 2022 Financial Results and Conference Call Schedule.
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CNX Resources Corp. (NYSE: CNX) will announce its financial results for Q3 2022 at 6:45 a.m. Eastern Time on Thursday, October 27. At that time, CNX will issue a brief press release containing a link to presentation materials providing a Q3 2022 update, which will be available on CNX’s Investor Relations website. This release will be followed by a conference call and webcast.
Over the last 12 months, CNX stock rose by 36.26%. The one-year CNX Resources Corporation stock forecast points to a potential upside of 29.63. The average equity rating for CNX stock is currently 2.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.29 billion, with 194.02 million shares outstanding and 183.80 million shares in the current float. Compared to the average trading volume of 3.11M shares, CNX stock reached a trading volume of 3225758 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 $24.67 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 2.90. 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.
BofA Securities have made an estimate for CNX Resources Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on September 19, 2022. While these analysts kept the previous recommendation, Scotiabank raised their target price to Sector Perform. The new note on the price target was released on July 25, 2022, representing the official price target for CNX Resources Corporation stock. Previously, the target price had yet another raise to $16, while MKM Partners analysts kept a Neutral rating on CNX stock. On July 11, 2022, analysts increased their price target for CNX shares from 26 to 27.
The Average True Range (ATR) for CNX Resources Corporation is set at 0.80, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for CNX in the course of the last twelve months was 6.29 with Quick ratio for the last quarter at 0.30.
CNX Stock Performance Analysis:
CNX Resources Corporation [CNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.71. With this latest performance, CNX shares gained by 2.66% in over the last four-week period, additionally sinking by -17.22% over the last 6 months – not to mention a rise of 36.26% 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 57.18, with the RSI for the last a single of trading hit 63.27, and the three-weeks RSI is set at 53.83 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 16.79, while it was recorded at 16.74 for the last single week of trading, and 17.84 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 +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 0.30 and a Current Ratio set at 0.30.
CNX Stock EPS
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 41.60%.
CNX Resources Corporation [CNX] Insider Position Details
There are presently around $3,158 million, or 98.10% of CNX stock, in the hands of institutional investors. The top three institutional holders of CNX stocks are: BLACKROCK INC. with ownership of 23,425,699, which is approximately -2.034% of the company’s market cap and around 2.30% of the total institutional ownership; VANGUARD GROUP INC, holding 16,689,948 shares of the stock with an approximate value of $289.74 million in CNX stocks shares; and SOUTHEASTERN ASSET MANAGEMENT INC/TN/, currently with $274.45 million in CNX stock with ownership of nearly -30.462% of the company’s market capitalization.
Positions in CNX Resources Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 140 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 19,624,208 shares. Additionally, 150 investors decreased positions by around 23,600,202 shares, while 42 investors held positions by with 138,694,137 shares. The mentioned changes placed institutional holdings at 181,918,547 shares, according to the latest SEC report filing. CNX stock had 45 new institutional investments in for a total of 4,921,335 shares, while 24 institutional investors sold positions of 1,683,777 shares during the same period.