CNX Resources Corporation (NYSE: CNX) Rose 38.33% From Its 52-Week Low; YTD Numbers Rose 25.09% – Here Are Some Things To Keep In Mind – Marketing Sentinel
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CNX Resources Corporation (NYSE: CNX) Rose 38.33% From Its 52-Week Low; YTD Numbers Rose 25.09% – Here Are Some Things To Keep In Mind

During the recent session, CNX Resources Corporation (NYSE:CNX)’s traded shares were 0.59 million, with the beta value of the company hitting 1.27. At the last check today, the stock’s price was $16.88, reflecting an intraday loss of -1.89% or -$0.32. The 52-week high for the CNX share is $24.21, that puts it down -43.42 from that peak though still a striking 38.33% gain since the share price plummeted to a 52-week low of $10.41. The company’s market capitalization is $3.70B, and the average intraday trading volume over the past 10 days was 4.1 million shares, and the average trade volume was 3.46 million shares over the past three months.

CNX Resources Corporation (CNX) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. CNX has a Sell rating from 1 analyst(s) out of 12 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 2 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.72.

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CNX Resources Corporation (NYSE:CNX) trade information

CNX Resources Corporation (CNX) registered a -1.89% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.89% in intraday trading to $16.88 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -12.87%, and it has moved by -12.16% in 30 days. Based on these gigs, the overall price performance for the year is 25.00%. The short interest in CNX Resources Corporation (NYSE:CNX) is 30.11 million shares and it means that shorts have 8.93 day(s) to cover.

The consensus price target of analysts on Wall Street is $28.10, which implies an increase of 39.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $21.00 and $48.00 respectively. As a result, CNX is trading at a discount of -184.36% off the target high and -24.41% off the low.

CNX Resources Corporation (CNX) estimates and forecasts

Statistics show that CNX Resources Corporation has outperformed its competitors in share price, compared to the industry in which it operates. CNX Resources Corporation (CNX) shares have gone up 26.01% during the last six months, with a year-to-date growth rate more than the industry average at 86.34% against 26.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 300.00% this quarter and then jump 5.40% in the quarter after that. In the rating firms’ projections, revenue will decrease -9.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $507.02 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $510.64 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $389.43 million and $495.74 million respectively. In this case, analysts expect current quarter sales to grow by 30.20% and then jump by 3.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 0.80%. While earnings are projected to return 4.90% in 2022, the next five years will return 41.60% per annum.

CNX Dividends

CNX Resources Corporation is due to release its next quarterly earnings between July 27 and August 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

CNX Resources Corporation (NYSE:CNX)’s Major holders

CNX Resources Corporation insiders own 2.90% of total outstanding shares while institutional holders control 97.81%, with the float percentage being 100.72%. Blackrock Inc. is the largest shareholder of the company, while 393 institutions own stock in it. As of Mar 30, 2022, the company held over 23.91 million shares (or 12.26% of all shares), a total value of $495.46 million in shares.

The next largest institutional holding, with 22.73 million shares, is of Southeastern Asset Management Inc/TN/’s that is approximately 11.66% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $471.06 million.

Also, the Mutual Funds coming in first place with the largest holdings of CNX Resources Corporation (CNX) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Longleaf Partners Small-Cap Fund. Data provided on Apr 29, 2022 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF owns about 6.59 million shares. This amounts to just over 3.38 percent of the company’s overall shares, with a $135.46 million market value. The same data shows that the other fund manager holds slightly less at 5.95 million, or about 3.05% of the stock, which is worth about $123.3 million.

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