Consol Energy Inc. (CNX) Trading Down 4.9%
Consol Energy Inc. (NYSE:CNX)’s share price fell 4.9% during trading on Friday . The company traded as low as $17.40 and last traded at $17.44, with a volume of 1,908,754 shares. The stock had previously closed at $18.34.
A number of research firms recently commented on CNX. Vetr lowered shares of Consol Energy from a “strong-buy” rating to a “buy” rating and set a $20.30 price objective for the company. in a research note on Thursday. Morgan Stanley reaffirmed a “hold” rating and issued a $29.00 price objective on shares of Consol Energy in a research note on Tuesday. Bank of America Corp. raised shares of Consol Energy from an “underperform” rating to a “neutral” rating in a research note on Monday. Jefferies Group reaffirmed a “buy” rating on shares of Consol Energy in a research note on Thursday, August 11th. Finally, Scotiabank reissued a “sector perform” rating and set a $22.00 target price (up previously from $20.00) on shares of Consol Energy in a research note on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.80.
The company’s market cap is $4.01 billion. The stock has a 50-day moving average of $17.57 and a 200-day moving average of $13.60.
Consol Energy (NYSE:CNX) last announced its earnings results on Tuesday, July 26th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. During the same period last year, the firm earned ($0.37) EPS. The company had revenue of $285.80 million for the quarter, compared to analyst estimates of $566.84 million. The company’s revenue was down 47.6% compared to the same quarter last year. Analysts forecast that Consol Energy Inc. will post ($0.46) earnings per share for the current year.
In related news, major shareholder David Einhorn sold 7,000,000 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of hedge funds and institutional investors have made changes to their positions in the company. BlackRock Advisors LLC boosted 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 valued at $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 valued at approximately $1,590,000. Finally, State of Tennessee Treasury Department boosted 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 valued at $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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