Consol Energy Inc. (CNX) Shares Gap Up to $18.06
Shares of Consol Energy Inc. (NYSE:CNX) gapped up before the market opened on Thursday . The stock had previously closed at $17.98, but opened at $18.06. Consol Energy shares last traded at $18.54, with a volume of 1,533,505 shares traded.
Several brokerages recently weighed in on CNX. FBR & Co restated a “buy” rating on shares of Consol Energy in a research report on Tuesday, May 3rd. BMO Capital Markets restated a “buy” rating on shares of Consol Energy in a research report on Sunday, June 12th. Howard Weil upped their price objective on Consol Energy from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 27th. Bank of America Corp. upgraded Consol Energy from an “underperform” rating to a “neutral” rating in a research report on Monday. Finally, Jefferies Group restated a “buy” rating on shares of Consol Energy in a research report on Thursday, August 11th. 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’s stock. Consol Energy has an average rating of “Buy” and an average price target of $15.80.
The stock’s market capitalization is $4.21 billion. The company’s 50 day moving average price is $17.57 and its 200 day moving average price is $13.60.
Consol Energy (NYSE:CNX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The firm earned $285.80 million during the quarter, compared to analysts’ expectations of $566.84 million. During the same period in the prior year, the firm earned ($0.37) EPS. The company’s quarterly revenue was down 47.6% on a year-over-year basis. Equities analysts expect that Consol Energy Inc. will post ($0.46) EPS for the current fiscal year.
In other news, major shareholder David Einhorn sold 7,000,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $15.01, for a total value of $105,070,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several large investors recently added to or reduced their stakes in the stock. BlackRock Advisors LLC raised its stake in 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 period. State of Tennessee Treasury Department raised its stake in 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 period. Finally, Trexquant Investment LP bought a new stake in Consol Energy during the fourth quarter worth $1,590,000.
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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