At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.27% per year. These returns cover a period from January 1, 1988 through April 3, 2023. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.
Additionally, the Company operates and develops coal bed methane properties in Virginia. It extracts CBM in Virginia from approximately 278,000 net CBM acres in Central Appalachia. Free Report) is scheduled to report its first-quarter results on May 8, after market close.
CNX Resources Corporation. (CNX) Reports Q3 Loss, Misses Revenue Estimates
Market cap or market capitalization is the total market value of all of a company’s outstanding shares. The company’s average rating score is 1.67, and is based on no buy ratings, 4 hold ratings, and 2 sell ratings. Enterprise Value is a measure of a company’s total value, often used as a more comprehensive alternative to equity market capitalization. Enterprise value includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company’s balance sheet. The average selling price in the quarter was $2.9 per thousand cubic feet equivalent , down 8.3% from the year-ago figure of $3.14. In the reported quarter, total production cost was $1.66 per Mcfe, up 9.2% year-over-year.
Free Report) is slated to report its first-quarter results on May 15, after market close. The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.30 per share, implying a year-over-year decline of 38.7%. Free Report) is slated to report its first-quarter results on May 4, before market open. The Zacks Consensus Estimate for first-quarter earnings is pegged at 97 cents per share, implying a year-over-year decline of 49.5%.
CNX Resources started at buy with $20 stock price target at Gerdes Energy Research
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- One share of CNX stock can currently be purchased for approximately $15.36.
- It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.
- CNX Resources has only been the subject of 2 research reports in the past 90 days.
- Nevertheless, we are always paying attention to the latest value, growth, and mo…
The price-to-book ratio is a company’s current market price to its Book Value. Traditionally, any value under 1.0 is considered a good P/B value, indicating a potentially undervalued stock. First-quarter 2023 cash from operating activities was $248.8 million, down 26.1% from $336.4 million in the year-ago period. CNX Resources repurchased 5.9 million shares during the quarter.
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CNX Resources’ stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Tributary Capital Management LLC (0.60%), Wedge Capital Management L L P NC (0.54%), Peregrine Capital Management LLC (0.26%), Congress Asset Management Co. MA (0.15%), New York State Teachers Retirement System (0.15%) and State of New Jersey Common Pension Fund D (0.09%). Insiders that own company stock include Alan K Shepard, Bernard Lanigan, Jr, Donald W Rush and N J Deiuliis.
A hold rating indicates that analysts believe investors should maintain any existing positions they have in CNX, but not buy additional shares or sell existing shares. 6 brokers have issued 12 month price objectives for CNX Resources’ shares. Their CNX share price forecasts range from $16.00 to $31.00. On average, they predict the company’s stock price to reach $20.75 in the next year. This suggests a possible upside of 35.1% from the stock’s current price. View analysts price targets for CNX or view top-rated stocks among Wall Street analysts.
You can see the complete list of today’s Zacks #1 Rank stocks here. First-quarter capital expenditure was $170.1 million, higher than $122.3 million invested in the year-ago period. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
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Earnings for CNX Resources are expected to grow by 21.02% in the coming year, from $1.57 to $1.90 per share. Only 3.10% of the stock of CNX Resources is held by insiders. MarketBeat has tracked 14 news articles for CNX Resources this week, compared to 4 articles on an average week. CNX Resources does not have a long track record of dividend growth.
6 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for CNX Resources in the last year. There are currently 2 sell ratings and 4 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should “hold” CNX shares.
Nevertheless, we are always paying attention to the latest value, growth, and mo… The technique has proven to be very useful for finding positive surprises. In the past three months, CNX Resources insiders have not sold or bought any company stock. Delivered earnings and revenue surprises of -175% and 13.31%, respectively, for the quarter ended September 2022.
CNX Resources’ stock was trading at $16.84 at the beginning of the year. Since then, CNX shares have decreased by 8.8% and is now trading at $15.36. 93.66% of the stock of CNX Resources is held by institutions. High institutional ownership can be a signal of strong market trust in this company. According to analysts’ consensus price target of $20.75, CNX Resources has a forecasted upside of 34.8% from its current price of $15.39.
Total revenues in the reported quarter decreased 16.7% year over year from the prior quarter’s $474 million. The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023. The P/E ratio of CNX Resources is 2.15, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 58.90.
- The average selling price in the quarter was $2.9 per thousand cubic feet equivalent , down 8.3% from the year-ago figure of $3.14.
- The U.S. Energy Department’s weekly inventory release showed a lower-than-expected increase in natural gas supplies.
- According to analysts’ consensus price target of $20.75, CNX Resources has a forecasted upside of 34.8% from its current price of $15.39.
- Total first-quarter production volumes were 135.9 billion cubic feet equivalent , down 9.9% year over year.
https://1investing.in/ Resources saw a decline in short interest during the month of March. As of March 31st, there was short interest totaling 25,740,000 shares, a decline of 5.7% from the March 15th total of 27,300,000 shares. Based on an average daily trading volume, of 3,240,000 shares, the short-interest ratio is presently 7.9 days. CNX Resources’ fourth-quarter earnings beat the estimate but revenues are lower than expected.
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Price Target and Rating
CNX Resources fourth-quarter results are expected to have benefited from lower debts and shares outstanding, and stable natural gas production from shale assets. CNX Resources Corporation is an independent natural gas and midstream company. The Company is primarily engaged in the exploration, development, production and acquisition of natural gas properties in the Appalachian Basin. Its principal activity is to produce pipeline natural gas for sale primarily to gas wholesalers.
That means you want to buy stock split corporate actions web with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better.
Sign-up to receive the latest news and ratings for CNX Resources and its competitors with MarketBeat’s FREE daily newsletter. 3 people have added CNX Resources to their MarketBeat watchlist in the last 30 days. This is an increase of 50% compared to the previous 30 days. Only 1 people have searched for CNX on MarketBeat in the last 30 days. This is a decrease of -91% compared to the previous 30 days. CNX Resources has a short interest ratio (“days to cover”) of 8.3.
This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 . This news sentiment score is similar to the average news sentiment of Oils/Energy companies. A valuation method that multiplies the price of a company’s stock by the total number of outstanding shares. CNX Resources’ third-quarter earnings are expected to have benefited from stable production and its ability to generate free cash flow, which helps strengthen the balance sheet and buy back shar… Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate.