Consol Energy Inc. (CNX) Trading Up 5.6%
Consol Energy Inc. (NYSE:CNX)’s share price was up 5.6% during mid-day trading on Monday . The company traded as high as $18.25 and last traded at $18.19, with a volume of 2,737,378 shares traded. The stock had previously closed at $17.23.
A number of equities analysts have issued reports on CNX shares. Jefferies Group raised their target price on Consol Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Scotiabank restated a “sector perform” rating and set a $22.00 target price (up previously from $20.00) on shares of Consol Energy in a report on Wednesday, July 27th. Zacks Investment Research cut Consol Energy from a “hold” rating to a “sell” rating in a report on Monday, July 4th. BMO Capital Markets reiterated a “buy” rating on shares of Consol Energy in a report on Sunday, June 12th. Finally, Howard Weil lifted 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. Ten research 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 currently has a consensus rating of “Buy” and an average target price of $15.80.
The firm’s market capitalization is $4.11 billion. The company has a 50-day moving average of $17.20 and a 200 day moving average of $13.28.
Consol Energy (NYSE:CNX) last announced its earnings results on Tuesday, July 26th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.02. The company earned $285.80 million during the quarter, compared to the consensus estimate of $566.84 million. During the same quarter last year, the firm posted ($0.37) EPS. Consol Energy’s quarterly revenue was down 47.6% compared to the same quarter last year. Analysts anticipate that Consol Energy Inc. will post ($0.46) earnings per share for the current fiscal 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 stock was sold at an average price of $15.01, for a total value of $105,070,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors have recently made changes to their positions in CNX. BlackRock Advisors LLC raised 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. State of Tennessee Treasury Department raised 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. Trexquant Investment LP purchased a new position in shares of Consol Energy during the fourth quarter valued at about $1,590,000. Finally, Rhumbline Advisers raised its position in shares of Consol Energy by 6.7% in the fourth quarter. Rhumbline Advisers now owns 303,788 shares of the company’s stock valued at $2,400,000 after buying an additional 19,208 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.