Consol Energy Inc. (CNX) Stock Price Up 4.2%
Shares of Consol Energy Inc. (NYSE:CNX) rose 4.2% during mid-day trading on Wednesday . The company traded as high as $16.66 and last traded at $16.49, with a volume of 4,258,890 shares. The stock had previously closed at $15.82.
CNX has been the subject of a number of recent analyst reports. Bank of America Corp. restated an “underperform” rating on shares of Consol Energy in a report on Thursday, March 17th. KLR Group initiated coverage on shares of Consol Energy in a report on Monday, April 4th. They set a “buy” rating and a $17.00 price target for the company. Zacks Investment Research downgraded shares of Consol Energy from a “hold” rating to a “sell” rating in a report on Monday. Sterne Agee CRT restated a “buy” rating on shares of Consol Energy in a report on Monday, May 16th. Finally, BMO Capital Markets restated a “buy” rating on shares of Consol Energy in a report on Sunday, June 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Consol Energy presently has a consensus rating of “Hold” and an average target price of $13.40.
The firm’s market cap is $3.77 billion. The company’s 50-day moving average price is $14.77 and its 200-day moving average price is $11.39.
Consol Energy (NYSE:CNX) last released its quarterly earnings results on Tuesday, April 26th. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.02. The firm had revenue of $558.50 million for the quarter, compared to analyst estimates of $693.56 million. Consol Energy’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Equities research analysts anticipate that Consol Energy Inc. will post ($0.56) EPS for the current year.
In related news, major shareholder David Einhorn sold 7,000,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $15.01, for a total transaction of $105,070,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A number of large investors have recently added to or reduced their stakes in CNX. PNC Financial Services Group Inc. raised its stake in Consol Energy by 402.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 157,059 shares of the company’s stock worth $1,239,000 after buying an additional 125,793 shares during the last quarter. Trexquant Investment LP purchased a new stake in Consol Energy during the fourth quarter worth $1,590,000. Commerzbank Aktiengesellschaft FI raised its stake in Consol Energy by 85.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 201,998 shares of the company’s stock worth $1,596,000 after buying an additional 93,028 shares during the last quarter. Rhumbline Advisers raised its stake in Consol Energy by 6.7% in the fourth quarter. Rhumbline Advisers now owns 303,788 shares of the company’s stock worth $2,400,000 after buying an additional 19,208 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Consol Energy by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 437,507 shares of the company’s stock worth $3,456,000 after buying an additional 6,857 shares during the last quarter.
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.
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