Fintel reports that on January 3, 2024, Mizuho upgraded their outlook for CNX Resources (NYSE:CNX) from Underperform to Neutral .
Analyst Price Forecast Suggests 12.76% Upside
As of December 16, 2023, the average one-year price target for CNX Resources is 23.27. The forecasts range from a low of 18.18 to a high of $28.35. The average price target represents an increase of 12.76% from its latest reported closing price of 20.64.
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The projected annual revenue for CNX Resources is 1,952MM, a decrease of 1.06%. The projected annual non-GAAP EPS is 2.52.
What is the Fund Sentiment?
There are 705 funds or institutions reporting positions in CNX Resources. This is an increase of 73 owner(s) or 11.55% in the last quarter. Average portfolio weight of all funds dedicated to CNX is 0.28%, an increase of 19.20%. Total shares owned by institutions increased in the last three months by 2.21% to 191,699K shares. 
The put/call ratio of CNX is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Southeastern Asset Management holds 9,376K shares representing 5.90% ownership of the company. In it's prior filing, the firm reported owning 12,159K shares, representing a decrease of 29.69%. The firm decreased its portfolio allocation in CNX by 26.21% over the last quarter.
Arrowstreet Capital, Limited Partnership holds 6,186K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
D. E. Shaw holds 5,960K shares representing 3.75% ownership of the company. In it's prior filing, the firm reported owning 4,115K shares, representing an increase of 30.96%. The firm increased its portfolio allocation in CNX by 45.32% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,046K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 5,023K shares, representing an increase of 0.47%. The firm increased its portfolio allocation in CNX by 25.47% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,850K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 4,789K shares, representing an increase of 1.26%. The firm increased its portfolio allocation in CNX by 33.96% 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.
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