Consol Energy Inc. (CNX) Shares Gap Up to $18.06
Shares of Consol Energy Inc. (NYSE:CNX) gapped up before the market opened on Thursday . The stock had previously closed at $17.98, but opened at $18.06. Consol Energy shares last traded at $18.54, with a volume of 1,533,505 shares.
A number of brokerages have commented on CNX. BMO Capital Markets reissued a “buy” rating on shares of Consol Energy in a report on Sunday, June 12th. FBR & Co reissued a “buy” rating on shares of Consol Energy in a report on Tuesday, May 3rd. Sterne Agee CRT reissued a “buy” rating on shares of Consol Energy in a report on Monday, May 16th. Zacks Investment Research lowered Consol Energy from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Finally, Jefferies Group boosted their price objective on Consol Energy from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $15.80.
The firm has a 50-day moving average of $17.61 and a 200-day moving average of $13.66. The stock’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 Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The company had revenue of $285.80 million for the quarter, compared to the consensus estimate of $566.84 million. The company’s revenue was down 47.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.37) EPS. Equities analysts expect that Consol Energy Inc. will post ($0.46) EPS for the current year.
In related news, major shareholder David Einhorn sold 7,000,000 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available at this link.
Other large investors recently modified their holdings of the company. Trexquant Investment LP bought a new stake in shares of Consol Energy during the fourth quarter valued at about $1,590,000. 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 in the last quarter. Finally, 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 in 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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