CNX Resources Co. (NYSE:CNX) has received a consensus recommendation of “Reduce” from five different ratings firms, according to a report by Bloomberg.com. Out of the five research analysts covering the company, two have given it a sell rating and three have issued a hold rating. The average twelve-month price target among brokers who have covered the stock in the past year is $19.60.
In terms of institutional investors, several hedge funds and other investors have recently made changes to their positions in CNX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in CNX Resources by 6.0% during the first quarter, owning 74,211 shares worth $1,538,000. Great West Life Assurance Co. Can also increased its position by 7.2% during the same period, owning 117,180 shares worth $2,502,000. Sei Investments Co. followed suit with a 7.8% increase in their position, owning 249,181 shares worth $5,208,000. Canada Pension Plan Investment Board saw the highest increase at 39.2%, owning 104,255 shares worth $2,160,000. Finally, Allianz Asset Management GmbH grew its holdings by 26.2%, owning 53,619 shares valued at $1,111,000.
It is important to note that 95.16% of the stock is currently owned by institutional investors and hedge funds.
CNX Resources Corporation is an independent natural gas and midstream company that focuses on acquiring and developing natural gas properties in the Appalachian Basin. The company operates in two segments: Shale and Coalbed Methane (CBM). It primarily produces and sells pipeline quality natural gas to gas wholesalers.
It is evident that there are mixed opinions on CNX Resources Co., as indicated by the diverse recommendations from various ratings firms. The average twelve-month price target also suggests a potential decline in the stock’s value. However, it is worth noting that several institutional investors have increased their positions in the company, indicating confidence in CNX Resources’ long-term prospects.
Investors should consider these factors and conduct thorough research before making any investment decisions regarding CNX Resources Co.
CNX Resources Corporation
CNX
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
CNX Resources Stock Evaluation and Predictions
On September 8, 2023, numerous brokerages shared their evaluations on the performance of CNX Resources (NYSE:CNX) stock. StockNews.com recently released a report on the company, assigning it a “hold” rating. Meanwhile, Truist Financial adjusted its target price for CNX Resources shares, increasing it from $15.00 to $17.00 and maintaining a “hold” rating in their research report published on July 24th. Piper Sandler also raised its target price for the company’s shares from $16.00 to $19.00 and provided a “neutral” rating in their research report dated August 14th. Adding to these perspectives, Mizuho changed its price objective for CNX Resources shares from $18.00 to $22.00 and assigned an “underperform” rating in their research report documented on August 16th.
As of Friday’s opening bell, CNX stock stood at $22.34 per share, reflecting the market’s current perception of the company’s value. The stock has ranged between a low of $14.36 and a high of $22.83 over the past 52 weeks, demonstrating fluctuations within this period.
With a market capitalization of approximately $3.61 billion, CNX Resources operates as an oil and gas producer in various markets. The company faces distinctive financial ratios such as a PE ratio of 2.36 and a PEG ratio of 2.50; these figures demonstrate some interesting aspects regarding investors’ sentiments towards the stock.
Additionally, CNX Resources maintains several other key financial metrics worth mentioning: it has a beta coefficient of 1.36 and operates with a debt-to-equity ratio of approximately 0.!4; both numbers are likely to influence traders’ opinions when determining if an investment is suitable or not.
Furthermore, moving average prices play an essential role in evaluating stock trends. Notably, the 50-day moving average price of CNX Resources currently stands at $20.20, while the two-hundred-day moving average price sits at $17.41. These figures indicate significant shifts in stock performance over these respective periods.
CNX Resources recently reported its earnings results for the quarter ending on July 27th. The company’s oil and gas activities yielded an earnings per share (EPS) of $0.29, surpassing market expectations by $0.05. Furthermore, CNX Resources generated $839.70 million in revenue for this period, significantly exceeding analyst projections of $386.68 million in revenue.
During the same quarter last year, CNX Resources achieved a net margin of 49.95% along with a return on equity of 12.98%. It is important to note that the company’s revenue surged by 99.7% compared to the corresponding period in the previous year when it posted earnings per share of $0.61.
As industry professionals continue to assess and forecast CNX Resources’ future performance, analysts predict that the company will record an EPS of 1.6 for the current fiscal year.
In conclusion, brokerages have expressed varying opinions on CNX Resources’ stock based on recent assessments and evaluations within the financial market sphere. The stock’s opening value as of September 8th was recorded at $22.34 per share, falling between its yearly low and high figures up until that point ($14.36 – $22.83). Traders are closely observing vital financial ratios like PE ratio (2.36) and PEG ratio (2:50) to identify potential investment avenues within this particular sector.
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