Wellington Management Group LLP reduced its stake in Consol Energy Inc. (NYSE:CNX) by 38.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,645,956 shares of the company’s stock after selling 1,650,507 shares during the period. Wellington Management Group LLP owned approximately 1.16% of Consol Energy worth $29,873,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of Consol Energy by 100.7% in the first quarter. BlackRock Fund Advisors now owns 7,629,117 shares of the company’s stock valued at $86,133,000 after buying an additional 3,827,895 shares during the period. Quaker Capital Investments LLC increased its position in shares of Consol Energy by 156.5% in the first quarter. Quaker Capital Investments LLC now owns 2,701,387 shares of the company’s stock valued at $30,499,000 after buying an additional 1,648,058 shares during the period. Two Sigma Investments LLC increased its position in shares of Consol Energy by 45,713.9% in the fourth quarter. Two Sigma Investments LLC now owns 912,278 shares of the company’s stock valued at $7,207,000 after buying an additional 914,278 shares during the period. Corsair Capital Management L.P. acquired a new position in shares of Consol Energy during the fourth quarter valued at $3,781,000. Finally, Two Sigma Advisers LLC increased its position in shares of Consol Energy by 837.4% in the fourth quarter. Two Sigma Advisers LLC now owns 507,515 shares of the company’s stock valued at $4,009,000 after buying an additional 453,377 shares during the period.
Shares of Consol Energy Inc. (NYSE:CNX) traded up 1.48% during mid-day trading on Thursday, hitting $19.17. The company had a trading volume of 6,065,958 shares. Consol Energy Inc. has a 12 month low of $4.54 and a 12 month high of $19.62. The company’s market cap is $4.40 billion. The firm has a 50-day moving average of $15.85 and a 200-day moving average of $12.33.
CNX has been the topic of several research reports. KLR Group began coverage on shares of Consol Energy in a report on Monday, April 4th. They issued a “buy” rating and a $17.00 price target on the stock. Zacks Investment Research raised shares of Consol Energy from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, July 18th. Barclays PLC raised their price objective on shares of Consol Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 13th. Howard Weil raised their price objective on shares of Consol Energy from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Jefferies Group raised their price objective on shares of Consol Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.34.
In related news, major shareholder David Einhorn sold 7,000,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $15.01, for a total transaction of $105,070,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
CONSOL Energy Inc (CONSOL Energy) is an integrated energy company that operates through two divisions: oil and gas exploration and production (E&P) and coal mining. The principal activity of the E&P division is to produce pipeline quality natural gas for sale primarily to natural gas wholesalers. The E&P division’s segments are Marcellus, Utica, Coalbed Methane, and Other Gas.
