Pacer Advisors Inc. lifted its stake in shares of CONSOL Energy Inc. (NYSE:CNX) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,732 shares of the oil and gas producer’s stock after acquiring an additional 4,608 shares during the period. Pacer Advisors Inc.’s holdings in CONSOL Energy were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in shares of CONSOL Energy by 59.0% during the 2nd quarter. Creative Planning now owns 7,239 shares of the oil and gas producer’s stock worth $108,000 after purchasing an additional 2,686 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of CONSOL Energy during the 1st quarter worth about $136,000. Two Sigma Securities LLC acquired a new stake in shares of CONSOL Energy during the 1st quarter worth about $169,000. Trexquant Investment LP acquired a new stake in shares of CONSOL Energy during the 1st quarter worth about $176,000. Finally, Stephens Inc. AR acquired a new stake in shares of CONSOL Energy during the 1st quarter worth about $183,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
Shares of CONSOL Energy Inc. (NYSE:CNX) opened at 15.66 on Friday. The company’s 50-day moving average price is $14.95 and its 200 day moving average price is $15.40. The stock’s market cap is $3.60 billion. CONSOL Energy Inc. has a 1-year low of $13.55 and a 1-year high of $22.34.
CONSOL Energy (NYSE:CNX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. The firm had revenue of $865.95 million during the quarter, compared to analyst estimates of $678.79 million. During the same quarter last year, the firm earned ($0.21) EPS. CONSOL Energy’s quarterly revenue was up 202.8% on a year-over-year basis. Equities analysts forecast that CONSOL Energy Inc. will post $0.53 EPS for the current fiscal year.
CONSOL Energy declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other news, Director J. Palmer Clarkson bought 10,000 shares of the firm’s stock in a transaction dated 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 purchase was disclosed in a document filed with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.
CNX has been the subject of a number of recent analyst reports. Barclays PLC reissued a “hold” rating on shares of CONSOL Energy in a research report on Wednesday, May 24th. BidaskClub downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. ValuEngine downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Stifel Nicolaus set a $26.00 price objective on CONSOL Energy and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, FBR & Co reaffirmed a “buy” rating on shares of CONSOL Energy in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.74.
CONSOL Energy Profile
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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