CNX Resources Corporation (CNX)’s Double Top Pattern Points to Lower Stock Risks

July 16, 2018 - By Vernon Prom

CNX Resources Corporation (NYSE:CNX) Logo

Investors sentiment increased to 0.25 in 2018 Q1. Its up 0.24, from 0.01 in 2017Q4. It increased, as 4 investors sold CNX Resources Corporation shares while 0 reduced holdings. 0 funds opened positions while 1 raised stakes. 674 shares or 99.91% less from 767,412 shares in 2017Q4 were reported.
Vantage Investment Llc accumulated 100 shares. Gemmer Asset Limited holds 574 shares.

Since February 12, 2018, it had 2 buys, and 0 insider sales for $467,503 activity. The insider Thorndike William N Jr bought 35,000 shares worth $448,025.

The chart of CNX Resources Corporation (CNX) shows a double top with $17.67 target or 3.00 % above today’s $17.16 share price. The 7 months chart pattern indicates low risk for the $3.74 billion company. It was reported on Jul, 16 by Finviz.com. If the $17.67 price target is reached, the company will be worth $112.14 million more. Double tops are rare but powerful chart patterns.

The stock 0.03% or $0 during the last trading session, reaching $17.16. It is down 19.14% since July 16, 2017 and is uptrending. It has outperformed by 6.57% the S&P500.

Analysts await CNX Resources Corporation (NYSE:CNX) to report earnings on August, 7. They expect $0.12 EPS, down 29.41 % or $0.05 from last year’s $0.17 per share. CNX’s profit will be $26.14 million for 35.75 P/E if the $0.12 EPS becomes a reality. After $0.19 actual EPS reported by CNX Resources Corporation for the previous quarter, Wall Street now forecasts -36.84 % negative EPS growth.

CNX Resources Corporation (NYSE:CNX) Ratings Coverage

Among 2 analysts covering CNX Resources Corporation (NYSE:CNX), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. CNX Resources Corporation had 2 analyst reports since January 29, 2018 according to SRatingsIntel. The rating was maintained by Robert W. Baird on Monday, January 29 with “Buy”. As per Monday, March 5, the company rating was maintained by Susquehanna.

More news for CNX Resources Corporation (NYSE:CNX) were recently published by: Fool.com, which released: “A $9375 Investment in This Dividend Stock Could Generate More Than $1260 in Annual Income Within 5 Years” on July 07, 2018. Seekingalpha.com‘s article titled: “Hess, CNX Resources to sell Utica shale JV for combined $800M” and published on June 29, 2018 is yet another important article.

CONSOL Energy Inc., together with its subsidiaries, operates as an integrated energy firm in the United States and internationally. The company has market cap of $3.74 billion. The firm primarily operates through two divisions, Exploration and Production , and Pennsylvania (PA) Mining Operations. It has a 4.15 P/E ratio. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.

CNX Resources Corporation (NYSE:CNX) Ratings Chart

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