CNX has been the subject of a number of other research reports. Susquehanna Bancshares Inc boosted their target price on shares of CONSOL Energy from $16.00 to $18.00 and gave the stock a neutral rating in a research note on Monday, September 25th. BidaskClub downgraded shares of CONSOL Energy from a hold rating to a sell rating in a research note on Monday, August 14th. Jefferies Group LLC set a $20.00 target price on shares of CONSOL Energy and gave the stock a buy rating in a research note on Wednesday, July 19th. Stifel Nicolaus reiterated a buy rating and set a $24.00 target price (down previously from $26.00) on shares of CONSOL Energy in a research note on Wednesday, September 6th. Finally, ValuEngine downgraded shares of CONSOL Energy from a hold rating to a sell rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $21.37.
Shares of CONSOL Energy (NYSE CNX) traded down 1.89% during mid-day trading on Wednesday, reaching $16.57. The company’s stock had a trading volume of 2,031,343 shares. The stock has a 50 day moving average of $15.47 and a 200-day moving average of $15.52. The stock’s market cap is $3.81 billion. CONSOL Energy has a one year low of $13.55 and a one year high of $22.34.
CONSOL Energy (NYSE:CNX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The business had revenue of $865.95 million during the quarter, compared to the consensus estimate of $678.79 million. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The company’s quarterly revenue was up 202.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. On average, equities research analysts expect that CONSOL Energy will post $0.53 EPS for the current fiscal year.
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CONSOL Energy declared that its board has initiated a stock repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the oil and gas producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director J. Palmer Clarkson acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $15.40 per share, for a total transaction of $154,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNX. Key Group Holdings Cayman LTD. boosted its stake in CONSOL Energy by 3,182.6% in the second quarter. Key Group Holdings Cayman LTD. now owns 1,721,238 shares of the oil and gas producer’s stock valued at $25,715,000 after acquiring an additional 1,668,802 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in CONSOL Energy by 117.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 2,806,977 shares of the oil and gas producer’s stock valued at $41,936,000 after acquiring an additional 1,516,289 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in CONSOL Energy by 742.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,552,569 shares of the oil and gas producer’s stock valued at $23,195,000 after acquiring an additional 1,368,200 shares in the last quarter. Bank of Montreal Can boosted its stake in CONSOL Energy by 12,407.3% in the second quarter. Bank of Montreal Can now owns 1,018,348 shares of the oil and gas producer’s stock valued at $15,213,000 after acquiring an additional 1,010,206 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in CONSOL Energy by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 9,493,977 shares of the oil and gas producer’s stock valued at $141,844,000 after acquiring an additional 1,003,459 shares in the last quarter. Institutional investors own 99.84% of the company’s stock.
About CONSOL Energy
CONSOL Energy Inc (CONSOL Energy) is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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