CNX Resources Corporation [CNX] Revenue clocked in at $3.84 billion, down -9.09% YTD: What’s Next?

CNX Resources Corporation [NYSE: CNX] loss -3.53% on the last trading session, reaching $15.31 price per share at the time. The company report on February 9, 2023 that CNX Announces Proved Reserves of 9.81 Tcfe.

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CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) announced today its year-end reserves update as of December 31, 2022.

Increased proved developed reserves by 5%, or 315 Bcfe, to 6,221 Bcfe.

CNX Resources Corporation represents 176.78 million in outstanding shares, while the company has a total market value of $2.55 billion with the latest information. CNX stock price has been found in the range of $15.26 to $16.14.

If compared to the average trading volume of 3.13M shares, CNX reached a trading volume of 3215196 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $19.44 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.

Mizuho have made an estimate for CNX Resources Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $25 to $23. The new note on the price target was released on September 19, 2022, representing the official price target for CNX Resources Corporation stock. Previously, the target price had yet another raise to $25, while Scotiabank analysts kept a Sector Perform rating on CNX stock.

The Average True Range (ATR) for CNX Resources Corporation is set at 0.61, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 0.66. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for CNX in the course of the last twelve months was 3.81 with Quick ratio for the last quarter at 0.40.

Trading performance analysis for CNX stock

CNX Resources Corporation [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.19. With this latest performance, CNX shares dropped by -5.38% in over the last four-week period, additionally sinking by -9.46% over the last 6 months – not to mention a drop of -15.37% 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 43.28, with the RSI for the last a single of trading hit 40.99, and the three-weeks RSI is set at 44.37 for CNX Resources Corporation [CNX]. The present Moving Average for the last 50 days of trading for this stock 16.11, while it was recorded at 15.90 for the last single week of trading, and 17.30 for the last 200 days.

CNX Resources Corporation [CNX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and CNX Resources Corporation [CNX] shares currently have an operating margin of +66.40 and a Gross Margin at +71.05. CNX Resources Corporation’s Net Margin is presently recorded at -3.62.

Return on Equity for this stock declined to -4.27, with Return on Assets sitting at -1.71.

CNX Resources Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

CNX Resources Corporation [CNX]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at CNX Resources Corporation [CNX]

There are presently around $2,527 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 21,816,982, which is approximately -4.347% of the company’s market cap and around 3.38% of the total institutional ownership; VANGUARD GROUP INC, holding 17,977,737 shares of the stock with an approximate value of $275.24 million in CNX stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $217.53 million in CNX stock with ownership of nearly -4.299% of the company’s market capitalization.

Positions in CNX Resources Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 135 institutional holders increased their position in CNX Resources Corporation [NYSE:CNX] by around 9,090,915 shares. Additionally, 175 investors decreased positions by around 17,574,170 shares, while 40 investors held positions by with 138,394,359 shares. The mentioned changes placed institutional holdings at 165,059,444 shares, according to the latest SEC report filing. CNX stock had 42 new institutional investments in for a total of 2,350,272 shares, while 37 institutional investors sold positions of 4,071,163 shares during the same period.


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