Stock analysis, AI verdict, fundamentals & technical signals
Rating: SELL AI Verdict: SKIP
Price: $36.58 Analyst target: $37.45 Upside: 2.38%
CNX is a natural gas E&P, a commoditized and cyclical business, and it is pushing into resistance after a sharp weekly rally: close $38.05 vs 3m resistance $38.17 and the upper Bollinger band $38.33. Williams %R is -11.55, CCI 142 and RSI 60.6, and the price is well above the SMA200 ($28.29) but far above the SMA20 ($34.71) too. Fundamentals are mixed: P/E 5.8 and P/B 1.0 look cheap, but quarterly revenue is down 18.1% YoY and earnings down 47.7%. Analyst moves are mostly Hold, with targets of $34-$37, so the price is already at or above them. This is not an oversold dip, and reward/risk looks poor.
CNX Resources Corporation, an independent oil and natural gas company, acquires, explores, develops and produces natural gas properties primarily in the Appalachian Basin. The company is headquartered in Canonsburg, Pennsylvania.
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