Fintel reports that on September 11, 2023, Truist Securities maintained coverage of CNX Resources (NYSE:CNX) with a Hold recommendation.
Analyst Price Forecast Suggests 2.77% Downside
As of August 31, 2023, the average one-year price target for CNX Resources is 21.83. The forecasts range from a low of 19.19 to a high of $28.35. The average price target represents a decrease of 2.77% from its latest reported closing price of 22.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CNX Resources is 2,130MM, a decrease of 25.24%. The projected annual non-GAAP EPS is 2.86.
What is the Fund Sentiment?
There are 623 funds or institutions reporting positions in CNX Resources. This is a decrease of 55 owner(s) or 8.11% in the last quarter. Average portfolio weight of all funds dedicated to CNX is 0.23%, a decrease of 2.73%. Total shares owned by institutions decreased in the last three months by 3.22% to 187,480K shares. 
The put/call ratio of CNX is 0.94, indicating a bullish outlook.
What are Other Shareholders Doing?
Southeastern Asset Management holds 12,159K shares representing 7.53% ownership of the company. In it's prior filing, the firm reported owning 13,759K shares, representing a decrease of 13.16%. The firm increased its portfolio allocation in CNX by 4.69% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,023K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 5,248K shares, representing a decrease of 4.50%. The firm increased its portfolio allocation in CNX by 1.39% over the last quarter.
LLPFX - Longleaf Partners Fund holds 4,825K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 4,874K shares, representing a decrease of 1.01%. The firm increased its portfolio allocation in CNX by 6.72% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,789K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 5,074K shares, representing a decrease of 5.95%. The firm decreased its portfolio allocation in CNX by 3.68% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 4,306K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 4,353K shares, representing a decrease of 1.10%. The firm increased its portfolio allocation in CNX by 2.39% over the last quarter.
CNX Resources Background Information
(This description is provided by the company.)
CNX Resources Corporation is one of the largest independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. With the benefit of a more than 150-year legacy and a substantial asset base amassed over many generations, the company deploys a strategy focused on responsibly developing its resources in order to create long term per share value for its shareholders, employees, and the communities where it operates. As of December 31, 2020, CNX had 9.55 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index.
Additional reading:
- CNX RESOURCES CORPORATION AMENDED AND RESTATED EQUITY AND INCENTIVE COMPENSATION PLAN PERFORMANCE SHARE UNIT AWARD AGREEMENT
- Average Lateral Length(1)
- Amended and Restated Bylaws of CNX Resources Corporation, filed here within.
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