In yesterday’s Wall Street session, CNX Resources Corporation (NYSE:CNX) shares traded at $16.20, down -0.86% from the previous session.
12 analysts cover CNX Resources Corporation (NYSE:CNX), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $17.00, we find $23.00. Given the previous closing price of $16.34, this indicates a potential upside of 40.76 percent. CNX stock price is now -6.60% away from the 50-day moving average and -11.80% away from the 200-day moving average. The market capitalization of the company currently stands at $2.95B.
The stock has received a hold rating from 7 analysts and a buy rating from 0. Brokers who have rated the stock have averaged $22.78 as their price target over the next twelve months.
With the price target reduced from $25 to $23, BofA Securities maintained Underperform rating for CNX Resources Corporation (NYSE: CNX)., while ‘MKM Partners’ rates the stock as ‘Neutral’.
Insiders disposed of 464,077 shares of company stock worth roughly $7.52 million over the past 1 year. A total of 3.14% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CNX stock. A new stake in CNX Resources Corporation shares was purchased by KGH LTD during the first quarter worth $30,780,000. POINT72 ASSET MANAGEMENT, L.P. invested $20,934,000 in shares of CNX during the first quarter. In the first quarter, HITE HEDGE ASSET MANAGEMENT LLC acquired a new stake in CNX Resources Corporation valued at approximately $9,559,000. ADAGE CAPITAL PARTNERS GP, L.L.C. acquired a new stake in CNX for approximately $4,057,000. FINANCIAL ENHANCEMENT GROUP LLC purchased a new stake in CNX valued at around $2,716,000 in the second quarter. In total, there are 414 active investors with 97.30% ownership of the company’s stock.
On Tuesday morning CNX Resources Corporation (NYSE: CNX) stock kicked off with the opening price of $16.16. During the past 12 months, CNX Resources Corporation has had a low of $13.00 and a high of $24.21. As of last week, the company has a debt-to-equity ratio of 1.14, a current ratio of 0.30, and a quick ratio of 0.30. The fifty day moving average price for CNX is $17.35 and a two-hundred day moving average price translates $18.37 for the stock.
The latest earnings results from CNX Resources Corporation (NYSE: CNX) was released for Jun, 2022. According to the Oil & Gas E&P Company, earnings per share came in at -$0.53, missing analysts’ expectations of $0.76 by -1.29. This compares to -$4.05 EPS in the same period last year. The net profit margin was -17.70% and return on equity was -25.50% for CNX. The company reported revenue of $117.06 million for the quarter, compared to -$880.26 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -113.3 percent. For the current quarter, analysts expect CNX to generate $531.2M in revenue.
CNX Resources Corporation(CNX) Company Profile
CNX Resources Corporation, an independent natural gas and midstream company, acquires, explores for, develops, and produces natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane. It produces and sells pipeline quality natural gas primarily for gas wholesalers. The company owns rights to extract natural gas in Pennsylvania, West Virginia, and Ohio from approximately 526,000 net Marcellus Shale acres; and approximately 610,000 net acres of Utica Shale, as well as rights to extract natural gas from other shale and shallow oil and gas positions from approximately 1,006,000 net acres in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. It also owns rights to extract coalbed methane (CBM) in Virginia from approximately 282,000 net CBM acres in Central Appalachia, as well as 1,733,000 net CBM acres in West Virginia, Pennsylvania, Ohio, Illinois, Indiana, and New Mexico. In addition, the company designs, builds, and operates natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points; owns and operates approximately 2,600 miles of natural gas gathering pipelines, as well as various natural gas processing facilities. It also offers turn-key solutions for water sourcing, delivery, and disposal for its natural gas operations and for third parties. The company was formerly known as CONSOL Energy Inc. and changed its name to CNX Resources Corporation in November 2017. CNX Resources Corporation was founded in 1860 and is headquartered in Canonsburg, Pennsylvania.