Consol Energy Inc. (CNX) Shares Up 5.6%
Consol Energy Inc. (NYSE:CNX) shot up 5.6% during mid-day trading on Monday . The stock traded as high as $18.25 and last traded at $18.19, with a volume of 2,737,378 shares. The stock had previously closed at $17.23.
Several brokerages have issued reports on CNX. BMO Capital Markets reaffirmed a “buy” rating on shares of Consol Energy in a research note on Sunday, June 12th. FBR & Co reiterated a “buy” rating on shares of Consol Energy in a report on Tuesday, May 3rd. Sterne Agee CRT reiterated a “buy” rating on shares of Consol Energy in a report on Monday, May 16th. Zacks Investment Research downgraded Consol Energy from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Finally, Jefferies Group lifted their price objective on Consol Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.80.
The firm’s 50 day moving average is $17.42 and its 200-day moving average is $13.53. The stock’s market cap is $4.10 billion.
Consol Energy (NYSE:CNX) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.02. During the same period in the previous year, the business earned ($0.37) earnings per share. The business had revenue of $285.80 million for the quarter, compared to analyst estimates of $566.84 million. The firm’s revenue was down 47.6% on a year-over-year basis. Equities analysts anticipate that Consol Energy Inc. will post ($0.46) earnings per share for the current year.
In other Consol Energy news, major shareholder David Einhorn sold 7,000,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds and institutional investors have made changes to their positions in the company. BlackRock Advisors LLC increased its position in shares of Consol Energy by 2.2% in the fourth quarter. BlackRock Advisors LLC now owns 10,024,790 shares of the company’s stock worth $79,196,000 after buying an additional 216,791 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Consol Energy during the fourth quarter worth approximately $1,590,000. Finally, State of Tennessee Treasury Department increased its position in shares of Consol Energy by 83.5% in the fourth quarter. State of Tennessee Treasury Department now owns 204,341 shares of the company’s stock worth $1,614,000 after buying an additional 92,955 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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