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MARKETS LIVE BLOG:

STOCKS OPEN MIXED AFTER ISRAEL STRIKE-FUELLED TUMBLE

Shares of Netflix, the first of the megacap techs to report, slide in early trading

Why You Should Add CNX Resources (CNX) to Your Portfolio Now

Zacks Equity Research
·3 min read

CNX Resources Corporation’s CNX focus on low-cost production areas, planned capital expenditures and systematic hedges will support production despite fluctuating prices.

Let’s focus on the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Revision in Estimates

The Zacks Consensus Estimate for 2020 and 2021 earnings per share has been revised 81.8% and 125% upward in the past 90 days to 20 cents and 36 cents, respectively.

Surprise History

CNX Resources’ four-quarter positive earnings surprise is 111.5%, on average.

Price Performance
 
In the past 12-month period, the stock has gained 36.6% against the industry’s decline of 49.4%.

Debt to Capital
 
The firm has been steadily lowering the proportion of debt in the capital mix. Long-term debt at first quarter-end was $2,739 million, down from $2,873 million at the end of fourth-quarter 2019. Total debt to capital at the end of the quarter was 37.56%, lower than the industry average of 43.66%.

Regular Investments

The company expects consolidated E&P capital expenditure to average $300 million annually over the 2022-2026 time period. It also expects to generate free cash flow of $500 million annually over the said time period. Strong free cash flow generation will help the company to meet debt obligation during this period, improve liquidity and continue with the share buyback program.

Other Stocks to Consider

Other top-ranked stocks in the Oil and Energy sector include Devon Energy Corporation DVN, Noble Energy Inc. NBL and Halliburton Company HAL, each carrying a Zacks Rank of 2.

Devon Energy, Noble Energy and Halliburton Company delivered average positive earnings surprise of 60.6%, 144.2% and 12.8%, respectively, in the last four quarters.

Long-term (three to five years) earnings growth for Devon Energy, Noble Energy and Halliburton Company is currently projected at 4.1%, 8.9% and 10.4%, respectively.

Zacks Top 10 Stocks for 2020

In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?

Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Noble Energy Inc. (NBL) : Free Stock Analysis Report
 
Halliburton Company (HAL) : Free Stock Analysis Report
 
CNX Resources Corporation. (CNX) : Free Stock Analysis Report
 
Devon Energy Corporation (DVN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research