why CNX Resources Corporation [CNX] is a Good Choice for Investors After New Price Target of $22.11

CNX Resources Corporation [NYSE: CNX] slipped around -0.6 points on Thursday, while shares priced at $15.76 at the close of the session, down -3.67%. The company report on January 5, 2023 that CNX Resources Corporation Announces Fourth Quarter 2022 Financial Results and Conference Call Schedule.

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CNX Resources Corp. (NYSE: CNX) will announce its financial results for Q4 2022 at 6:45 a.m. Eastern Time on Thursday, January 26. At that time, CNX will issue a brief press release containing a link to presentation materials providing a Q4 2022 update, which will be available on CNX’s Investor Relations website. This release will be followed by a conference call and webcast.

CNX Resources Corporation stock is now -6.41% down from its year-to-date (YTD) trading value. CNX Stock saw the intraday high of $16.355 and lowest of $15.74 per share. The company’s 52-week high price is 24.21, which means current price is +0.13% above from all time high which was touched on 01/04/23.

Compared to the average trading volume of 2.99M shares, CNX reached a trading volume of 3319980 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 $22.11 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 0.64, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 0.73. The Price to Book ratio for the last quarter was 1.50, 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 5.30 with Quick ratio for the last quarter at 0.30.

How has CNX stock performed recently?

CNX Resources Corporation [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.72. With this latest performance, CNX shares dropped by -3.55% in over the last four-week period, additionally sinking by -3.02% over the last 6 months – not to mention a rise of 7.58% 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 40.66, with the RSI for the last a single of trading hit 37.89, and the three-weeks RSI is set at 42.55 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 17.11, while it was recorded at 16.37 for the last single week of trading, and 18.26 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 +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.

Earnings analysis for CNX Resources Corporation [CNX]

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%.

Insider trade positions for CNX Resources Corporation [CNX]

There are presently around $2,736 million, or 97.50% of CNX stock, in the hands of institutional investors. The top three institutional holders of CNX stocks are: BLACKROCK INC. with ownership of 22,808,391, which is approximately -2.635% of the company’s market cap and around 3.14% of the total institutional ownership; VANGUARD GROUP INC, holding 18,448,774 shares of the stock with an approximate value of $290.75 million in CNX stocks shares; and SOUTHEASTERN ASSET MANAGEMENT INC/TN/, currently with $239.16 million in CNX stock with ownership of nearly -4.009% of the company’s market capitalization.

114 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 12,438,519 shares. Additionally, 178 investors decreased positions by around 20,527,562 shares, while 47 investors held positions by with 140,641,974 shares. The mentioned changes placed institutional holdings at 173,608,055 shares, according to the latest SEC report filing. CNX stock had 35 new institutional investments in for a total of 5,116,151 shares, while 28 institutional investors sold positions of 2,755,213 shares during the same period.


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