Consol Energy Inc. (CNX) Stock Rating Reaffirmed by FBR & Co
FBR & Co restated their outperform rating on shares of Consol Energy Inc. (NYSE:CNX) in a research note published on Thursday morning. FBR & Co currently has a $22.00 target price on the stock, up from their prior target price of $21.00.
Several other analysts have also weighed in on the company. Bank of America Corp. raised Consol Energy from an underperform rating to a neutral rating in a report on Monday, August 15th. Morgan Stanley reissued a hold rating and issued a $29.00 target price on shares of Consol Energy in a report on Tuesday, August 16th. Zacks Investment Research raised Consol Energy from a hold rating to a buy rating and set a $19.00 target price on the stock in a report on Monday, July 18th. Vetr downgraded Consol Energy from a strong-buy rating to a buy rating and set a $20.30 price objective on the stock. in a research report on Monday, August 29th. Finally, Scotiabank restated a sector perform rating and issued a $22.00 price objective (up from $20.00) on shares of Consol Energy in a research report on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $16.01.
Shares of Consol Energy (NYSE:CNX) opened at 18.63 on Thursday. The company’s 50 day moving average price is $18.43 and its 200-day moving average price is $16.23. Consol Energy has a 12 month low of $4.54 and a 12 month high of $20.66. The firm’s market capitalization is $4.27 billion.
Consol Energy (NYSE:CNX) last posted its earnings results on Tuesday, July 26th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The firm earned $285.80 million during the quarter, compared to analyst estimates of $566.84 million. Consol Energy had a negative net margin of 17.27% and a negative return on equity of 3.31%. The firm’s revenue for the quarter was down 47.6% on a year-over-year basis. During the same period last year, the company posted ($0.37) EPS. On average, equities analysts predict that Consol Energy will post ($0.45) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNX. Texas Permanent School Fund boosted its position in Consol Energy by 127.9% in the first quarter. Texas Permanent School Fund now owns 183,238 shares of the company’s stock worth $2,069,000 after buying an additional 102,826 shares during the last quarter. Virginia Retirement System bought a new position in Consol Energy during the first quarter worth $331,000. TIAA CREF Investment Management LLC boosted its position in Consol Energy by 21.7% in the first quarter. TIAA CREF Investment Management LLC now owns 652,842 shares of the company’s stock worth $7,371,000 after buying an additional 116,207 shares during the last quarter. BlackRock Fund Advisors boosted its position in Consol Energy by 100.7% in the first quarter. BlackRock Fund Advisors now owns 7,629,117 shares of the company’s stock worth $86,133,000 after buying an additional 3,827,895 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Consol Energy by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,819,934 shares of the company’s stock worth $76,997,000 after buying an additional 448,079 shares during the last quarter.
About Consol Energy
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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