CNX Resources Corporation [CNX] Stock trading around $17.14 per share: What’s Next?

CNX Resources Corporation [NYSE: CNX] price surged by 0.65 percent to reach at $0.11. The company report on October 27, 2022 that CNX Reports Third Quarter Results.


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CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) today released financial and operational results for the third quarter 2022 by posting those results on its website as detailed below.

Third quarter earnings results and supplemental information regarding quarterly E&P data such as production volumes and hedging information, financial statements, and non-GAAP reconciliations can be accessed by clicking here. .

A sum of 3853003 shares traded at recent session while its average daily volume was at 3.18M shares. CNX Resources Corporation shares reached a high of $17.84 and dropped to a low of $16.93 until finishing in the latest session at $17.14.

The one-year CNX stock forecast points to a potential upside of 26.53. The average equity rating for CNX stock is currently 3.20, trading closer to a bullish pattern in the stock market.

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 $23.33 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 3.20. 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.

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 0.77, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 0.98. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for CNX in the course of the last twelve months was 6.09 with Quick ratio for the last quarter at 0.30.

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 -5.77. With this latest performance, CNX shares dropped by -0.29% in over the last four-week period, additionally sinking by -19.98% over the last 6 months – not to mention a rise of 15.58% 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 49.54, with the RSI for the last a single of trading hit 48.48, and the three-weeks RSI is set at 49.85 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 17.03, while it was recorded at 16.75 for the last single week of trading, and 18.10 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 $3,111 million, or 97.30% 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 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 16,689,948 shares of the stock with an approximate value of $286.07 million in CNX stocks shares; and SOUTHEASTERN ASSET MANAGEMENT INC/TN/, currently with $270.97 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 October and at the time of the October reporting period, where 130 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 18,100,297 shares. Additionally, 153 investors decreased positions by around 22,829,019 shares, while 48 investors held positions by with 140,579,708 shares. The mentioned changes placed institutional holdings at 181,509,024 shares, according to the latest SEC report filing. CNX stock had 41 new institutional investments in for a total of 4,126,907 shares, while 22 institutional investors sold positions of 1,433,167 shares during the same period.

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