Consol Energy Inc. (CNX) Stock Price Down 4.9%
Consol Energy Inc. (NYSE:CNX) dropped 4.9% on Friday . The stock traded as low as $17.40 and last traded at $17.44, with a volume of 1,908,754 shares trading hands. The stock had previously closed at $18.34.
CNX has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Consol Energy from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Sterne Agee CRT restated a “buy” rating on shares of Consol Energy in a research note on Monday, May 16th. KLR Group downgraded shares of Consol Energy from a “buy” rating to an “accumulate” rating and raised their target price for the company from $17.00 to $20.00 in a research note on Monday, July 18th. Vetr upgraded shares of Consol Energy from a “buy” rating to a “strong-buy” rating and set a $20.30 target price for the company in a research note on Wednesday, August 10th. Finally, Jefferies Group raised their target price on shares of Consol Energy from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $15.80.
The stock’s 50 day moving average is $17.61 and its 200 day moving average is $13.66. The company’s market cap is $4.01 billion.
Consol Energy (NYSE:CNX) last issued its earnings results on Tuesday, July 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.02. The firm had revenue of $285.80 million for the quarter, compared to analyst estimates of $566.84 million. During the same period last year, the firm posted ($0.37) EPS. The company’s quarterly revenue was down 47.6% on a year-over-year basis. Equities research analysts forecast that Consol Energy Inc. will post ($0.46) EPS for the current year.
In other news, major shareholder David Einhorn sold 7,000,000 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $15.01, for a total value of $105,070,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in Consol Energy stock. BlackRock Advisors LLC boosted its position in Consol Energy Inc. (NYSE:CNX) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,024,790 shares of the company’s stock after buying an additional 216,791 shares during the period. BlackRock Advisors LLC owned approximately 4.38% of Consol Energy worth $79,196,000 as of its most recent filing with the SEC.
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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