This trade activity should not be overlooked: CNX Resources Corporation (CNX)

CNX Resources Corporation (NYSE: CNX) stock jumped 1.10% on Friday to $16.52 against a previous-day closing price of $16.34. With 4.33 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.57 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $16.87 whereas the lowest price it dropped to was $15.94. The 52-week range on CNX shows that it touched its highest point at $24.21 and its lowest point at $10.41 during that stretch. It currently has a 1-year price target of $26.60. Beta for the stock currently stands at 1.35.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNX was down-trending over the past week, with a drop of -15.37%, but this was up by 4.89% over a month. Three-month performance dropped to -19.96% while six-month performance rose 7.62%. The stock gained 37.10% in the past year, while it has gained 20.15% so far this year. A look at the trailing 12-month EPS for CNX yields -7.25 with Next year EPS estimates of 3.27. For the next quarter, that number is 0.79. This implies an EPS growth rate of 4.90% for this year and 5.07% for next year. EPS is expected to grow by 41.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 0.80%.

Float and Shares Shorts:

At present, 194.02 million CNX shares are outstanding with a float of 189.38 million shares on hand for trading. On Jul 14, 2022, short shares totaled 29.19 million, which was 14.97% higher than short shares on Jun 14, 2022. In addition to Mr. Nicholas J. DeIuliis as the firm’s Pres, CEO & Director, Mr. Chad A. Griffith serves as its Exec. VP & COO.

Institutional Ownership:

Through their ownership of 100.51% of CNX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.00% of CNX, in contrast to 38.91% held by mutual funds. Shares owned by individuals account for 1.99%. As the largest shareholder in CNX with 11.66% of the stake, Southeastern Asset Management, In holds 22,734,443 shares worth 22,734,443. A second-largest stockholder of CNX, BlackRock Fund Advisors, holds 21,303,355 shares, controlling over 10.92% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CNX, holding 17,563,609 shares or 9.00% stake. With a 3.00% stake in CNX, the Longleaf Partners Small Cap Fund is the largest stakeholder. A total of 5,849,088 shares are owned by the mutual fund manager. The Longleaf Partners Fund, which owns about 2.98% of CNX stock, is the second-largest Mutual Fund holder. It holds 5,808,251 shares valued at 95.6 million. iShares Core S&P Mid Cap ETF holds 2.89% of the stake in CNX, owning 5,638,201 shares worth 92.8 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNX since 12 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CNX analysts setting a high price target of $46.00 and a low target of $16.00, the average target price over the next 12 months is $26.40. Based on these targets, CNX could surge 178.45% to reach the target high and fall by -3.15% to reach the target low. Reaching the average price target will result in a growth of 59.81% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CNX will report FY 2022 earnings on 01/31/2023. Analysts have provided yearly estimates in a range of $3.39 being high and $2.19 being low. For CNX, this leads to a yearly average estimate of $2.87. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. CNX Resources Corporation surprised analysts by -$0.19 when it reported $0.61 EPS against a consensus estimate of $0.80. The surprise factor in the prior quarter was $0.19. Based on analyst estimates, the high estimate for the next quarter is $0.92 and the low estimate is $0.50. The average estimate for the next quarter is thus $0.73.

Summary of Insider Activity:

Insiders traded CNX stock several times over the past three months with 6 Buys and 1 Sells. In these transactions, 79,296 shares were bought while 12,200 shares were sold. The number of buy transactions has increased to 49 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 1,289,432 while 455,577 shares were sold.

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