CNX Resources Corp [NYSE: CNX] gained 3.90% on the last trading session, reaching $19.98 price per share at the time. The company report on February 12, 2024 at 6:01 PM that CNX Resources Corporation Announces Pricing of $400 Million of Senior Notes.
CNX Resources Corporation (NYSE: CNX) (“CNX,” “we,” or “our”) today announced the pricing of $400 million of its 7.250% senior notes due 2032 (the “Notes”) at a price to the public of 100.0% of their face value. The offering of Notes is expected to close on February 23, 2024, subject to the satisfaction of customary closing conditions. The Notes will be guaranteed by all of CNX’s restricted subsidiaries that guarantee its revolving credit facility.
CNX intends to use the net proceeds of the sale of the Notes to (i) purchase any and all of its outstanding 7.250% senior notes due 2027 (the “2027 Notes”) pursuant to the tender offer that commenced concurrently with the offering of the Notes (the “Tender Offer”), (ii) to the extent any 2027 Notes remain outstanding after the Tender Offer, fund the redemption of all 2027 Notes not purchased in the Tender Offer (the “Redemption”) and (iii) repay borrowings under its revolving credit facility, with any remaining proceeds used for general corporate purposes.
If compared to the average trading volume of 2.81M shares, CNX reached a trading volume of 4316181 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 Corp [CNX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNX shares is $22.25 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 3.07. 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 Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 05, 2024.
The Average True Range (ATR) for CNX Resources Corp is set at 0.54, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 2.02. The Price to Book ratio for the last quarter was 0.71, 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 22.44 with Quick ratio for the last quarter at 0.49.
Trading performance analysis for CNX stock
CNX Resources Corp [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.09. With this latest performance, CNX shares gained by 2.83% in over the last four-week period, additionally sinking by -8.68% over the last 6 months – not to mention a rise of 23.79% 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 49.51, with the RSI for the last a single of trading hit 50.96, and the three-weeks RSI is set at 48.62 for CNX Resources Corp [CNX]. The present Moving Average for the last 50 days of trading for this stock 20.07, while it was recorded at 19.68 for the last single week of trading, and 19.86 for the last 200 days.
CNX Resources Corp [CNX]: A deeper dive into fundamental analysis
CNX Resources Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.49 and a Current Ratio set at 0.51.
CNX Resources Corp [CNX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, CNX Resources Corp posted 0.55/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.80%. 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 Corp go to 41.60%.
An analysis of Institutional ownership at CNX Resources Corp [CNX]
The top three institutional holders of CNX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CNX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CNX stock with ownership which is approximately 5.8325%.
