Consol Energy Inc. (CNX) Shares Gap Up to $18.54
Consol Energy Inc. (NYSE:CNX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $18.52, but opened at $18.54. Consol Energy shares last traded at $18.74, with a volume of 1,584,746 shares changing hands.
Several equities analysts have recently weighed in on the company. FBR & Co restated a “buy” rating on shares of Consol Energy in a report on Tuesday, May 3rd. BMO Capital Markets restated a “buy” rating on shares of Consol Energy in a report on Sunday, June 12th. Howard Weil raised their price objective on Consol Energy from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, July 27th. Bank of America Corp. upgraded Consol Energy from an “underperform” rating to a “neutral” rating in a report on Monday, August 15th. Finally, Jefferies Group restated a “buy” rating on shares of Consol Energy in a report on Thursday, August 11th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Consol Energy currently has a consensus rating of “Buy” and an average target price of $15.80.
The company’s 50-day moving average is $17.92 and its 200 day moving average is $14.25. The stock’s market capitalization is $4.24 billion.
Consol Energy (NYSE:CNX) last posted its earnings results on Tuesday, July 26th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The business had revenue of $285.80 million for the quarter, compared to analyst estimates of $566.84 million. During the same quarter in the previous year, the company earned ($0.37) EPS. Consol Energy’s quarterly revenue was down 47.6% on a year-over-year basis. Analysts anticipate that Consol Energy Inc. will post ($0.46) EPS for the current year.
In other Consol Energy news, major shareholder David Einhorn sold 7,000,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this link.
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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