CNX Resources Corp [CNX] Revenue clocked in at $1.50 billion, up 6.90% YTD: What’s Next?

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CNX Resources Corp [NYSE: CNX] price surged by 0.14 percent to reach at $0.03. The company report on March 12, 2024 at 6:45 AM that CNX Announces Operational and Guidance Update.

CNX Resources Corporation (NYSE: CNX) (“CNX” or “the company”) today announced an operational and guidance update.

In response to the continued lower outlook for near term natural gas prices, the company will delay completions activities on three upcoming Marcellus Shale pads consisting of 11 wells to avoid bringing incremental volumes into the current oversupplied market.  As a result of these changes to the operational plan, the company now expects the following full year guidance ranges:.

The one-year CNX stock forecast points to a potential upside of 5.31. The average equity rating for CNX stock is currently 3.07, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $22.58 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 new note on the price target was released on January 03, 2024, representing the official price target for CNX Resources Corp stock. Previously, the target price had yet another raise from $20 to $27, while Truist kept a Buy rating on CNX stock.

The Average True Range (ATR) for CNX Resources Corp is set at 0.52, with the Price to Sales ratio for CNX stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 0.76, 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 24.01 with Quick ratio for the last quarter at 0.49.

CNX Stock Performance Analysis:

CNX Resources Corp [CNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.70. With this latest performance, CNX shares gained by 8.25% in over the last four-week period, additionally sinking by -4.04% over the last 6 months – not to mention a rise of 41.22% 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 59.72, with the RSI for the last a single of trading hit 61.68, and the three-weeks RSI is set at 57.63 for CNX Resources Corp [CNX]. The present Moving Average for the last 50 days of trading for this stock 20.36, while it was recorded at 21.27 for the last single week of trading, and 20.32 for the last 200 days.

Insight into CNX Resources Corp Fundamentals:

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 Stock EPS

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%.

CNX Resources Corp [CNX] Institutonal Ownership Details

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%.