CNX Resources Corporation (NYSE: CNX) stock jumped 0.25% on Wednesday to $16.19 against a previous-day closing price of $16.15. With 2.61 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.02 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $16.35 whereas the lowest price it dropped to was $16.06. The 52-week range on CNX shows that it touched its highest point at $24.21 and its lowest point at $14.36 during that stretch. It currently has a 1-year price target of $18.60. Beta for the stock currently stands at 1.31.
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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 up-trending over the past week, with a rise of 4.45%, but this was up by 5.47% over a month. Three-month performance surged to 6.51% while six-month performance fell -8.06%. The stock lost -21.41% in the past year, while it has lost -3.86% so far this year. A look at the trailing 12-month EPS for CNX yields 8.13 with Next year EPS estimates of 1.91. For the next quarter, that number is 0.38. This implies an EPS growth rate of 67.50% for this year and 10.98% 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 -24.30%.
Float and Shares Shorts:
At present, 168.45 million CNX shares are outstanding with a float of 162.43 million shares on hand for trading. On May 14, 2023, short shares totaled 25.45 million, which was 15.37% higher than short shares on Apr 13, 2023. In addition to Mr. Nicholas J. DeIuliis as the firm’s Pres, CEO & Director, Mr. Alan K. Shepard serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 100.28% of CNX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.21% of CNX, in contrast to 35.85% held by mutual funds. Shares owned by individuals account for 2.89%. As the largest shareholder in CNX with 10.84% of the stake, BlackRock Fund Advisors holds 18,447,247 shares worth 18,447,247. A second-largest stockholder of CNX, The Vanguard Group, Inc., holds 16,996,988 shares, controlling over 9.99% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in CNX, holding 14,224,469 shares or 8.36% stake. With a 3.12% stake in CNX, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 5,308,854 shares are owned by the mutual fund manager. The SPDR S&P Oil & Gas Exploration &, which owns about 3.07% of CNX stock, is the second-largest Mutual Fund holder. It holds 5,215,012 shares valued at 80.99 million. Vanguard Total Stock Market ETF holds 2.98% of the stake in CNX, owning 5,076,649 shares worth 78.84 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CNX reported revenue of $1.07B and operating income of $742.54M. The EBITDA in the recently reported quarter was $853.54M and diluted EPS was $0.15.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNX since 0 analysts follow the stock currently. 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 $28.00 and a low target of $15.00, the average target price over the next 12 months is $19.17. Based on these targets, CNX could surge 72.95% to reach the target high and fall by -7.35% to reach the target low. Reaching the average price target will result in a growth of 18.41% 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.
Summary of Insider Activity:
Insiders traded CNX stock several times over the past three months with 5 Buys and 1 Sells. In these transactions, 14,082 shares were bought while 2,000 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 497,325 while 364,446 shares were sold.
