Director Lanigan Bernard Jr acquired 100,000 shares in CNX Resources Corporation (NYSE:CNX) for $199,201 in transaction occurred on 2018/12/19. After making this transaction, the Director owns a direct stake of 1,195,000 shares, worth $2,495,989, as per the last closing price. On 2018/08/16 Clarkson J. Palmer, Director at CNX, purchased 10,000 shares at an average price of $14.9 per share. The new stake is valued at $713,809.
Separately, it had been reported that some other CNX insiders also took part of the insider trading activity. Director, Lally-Green Maureen had invested in 1,500 shares for $36,753 through a trade on 2018/02/13. Following this activity, the insider holds 19,485 shares worth $460,515 as of recent close. Wall Street’s most bullish CNX Resources Corporation (NYSE:CNX) analysts are predicting the share price to blow past $23 per share during the next 12 months. The current median share price forecast by them is $19, suggesting that the stock could increase 51.64% in that time frame. The average price target of $17.96 calls for a nearly 43.34% increase in the stock price.
CNX Resources Corporation (CNX) trading activity significantly weakened as the volume at ready counter decreased to 2,739,363 shares versus 3,600,595 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,526,257 shares. The share price dropped -0.95% in recent trade and currently has a stock-market value of $2.63B. The shares finished at $12.53, after trading as low as $12.27 earlier in the session. It hit an intraday high Thursday at $12.65. The stock is now 16.23% above against its bear-market low of $10.78 on December 26, 2018. It has retreated -46.61% since it’s 52-week high of $18.37 reached in July. Now the market price is down -16.41% on the year and up 9.72% YTD.
CNX’s 50 day simple moving average (SMA 50) price is $13.4 and its 200-day simple moving average (SMA 200) price is $15.13. The company’s stock currently has a total float of 200.54M shares. Its weekly volatility is hovering around 4.29% and felt 4.68% volatility in price over a month. On the upside, the share price will test short term resistance at around $12.7. On a downside, the stock is likely to find some support, which begins at $12.32. The failure to get near-term support could push it to $12.1.
It had seen a new analyst call from MKM Partners, which initiated the stock at Buy on December 06. Analysts at Goldman, shed their positive views on September 11 by lowering it fromNeutral to Sell. The stock lost favor of Raymond James analysts who expressed their lack of confidence in it using a downgrade from Mkt Perform to Underperform on August 06.
When looking at valuations, CNX Resources Corporation (CNX) has a cheap P/E of 3.23x as compared to industry average of 8.09x. Moreover, it trades for 12.57 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.61x price/book and 1.73x price/sales. It’s also not liquid in the near term, with a current ratio of 0.6. The stock has a debt/capital of 0.51.
Shares of CNX Resources Corporation (CNX) have dropped -4.9% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, CNX Resources Corporation (NYSE:CNX) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 5 quarters (41%), whereas at 0 occasion EPS met analyst expectations. CNX last reported earnings on October 30, 2018 when it released Sep-18 results that receded expectations. The company raked in $0.17 per share, -98.66% change on the same period last year. That was worse than consensus for $0.19. Revenue for the recent quarter stood at $397.13 million, down -41% on last year and above the $373.24 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $407.68 million to $527.5 million, which should be compared with $485.52 million generated last year. EPS is seen in a range of $0.04 to $0.46, against the $0.16 reported a year ago.