Pinebridge Investments L.P. Has $6.37 Million Stake in CONSOL Energy Inc. (CNX)
Pinebridge Investments L.P. lowered its position in CONSOL Energy Inc. (NYSE:CNX) by 34.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 426,611 shares of the oil and gas producer’s stock after selling 227,324 shares during the period. Pinebridge Investments L.P. owned approximately 0.19% of CONSOL Energy worth $6,374,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Chicago Equity Partners LLC grew its position in shares of CONSOL Energy by 62.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 127,505 shares of the oil and gas producer’s stock worth $1,905,000 after buying an additional 49,030 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in CONSOL Energy by 117.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 2,806,977 shares of the oil and gas producer’s stock worth $41,936,000 after purchasing an additional 1,516,289 shares during the last quarter. Ardevora Asset Management LLP grew its position in CONSOL Energy by 44.0% during the 2nd quarter. Ardevora Asset Management LLP now owns 1,552,600 shares of the oil and gas producer’s stock worth $23,196,000 after purchasing an additional 474,100 shares during the last quarter. Marshall Wace North America L.P. grew its position in CONSOL Energy by 170.5% during the 2nd quarter. Marshall Wace North America L.P. now owns 601,636 shares of the oil and gas producer’s stock worth $9,025,000 after purchasing an additional 379,243 shares during the last quarter. Finally, Credit Agricole S A grew its position in CONSOL Energy by 78.9% during the 1st quarter. Credit Agricole S A now owns 40,446 shares of the oil and gas producer’s stock worth $679,000 after purchasing an additional 17,844 shares during the last quarter. 99.84% of the stock is currently owned by hedge funds and other institutional investors.
In other CONSOL Energy news, Director J. Palmer Clarkson purchased 10,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $15.40 per share, for a total transaction of $154,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by insiders.
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Shares of CONSOL Energy Inc. (CNX) traded up 1.284% during midday trading on Wednesday, hitting $16.165. 487,212 shares of the company were exchanged. CONSOL Energy Inc. has a 52-week low of $13.55 and a 52-week high of $22.34. The company has a 50-day moving average price of $14.86 and a 200-day moving average price of $15.40. The stock’s market capitalization is $3.72 billion.
CONSOL Energy (NYSE:CNX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, beating the consensus estimate of $0.10 by $0.07. The company had revenue of $865.95 million during the quarter, compared to analysts’ expectations of $678.79 million. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. The firm’s revenue was up 202.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) EPS. On average, analysts forecast that CONSOL Energy Inc. will post $0.53 EPS for the current year.
CONSOL Energy announced that its board has approved a stock repurchase plan on Tuesday, September 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have recently commented on the stock. Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the company a “hold” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of CONSOL Energy from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, July 24th. ValuEngine cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of CONSOL Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC set a $20.00 price objective on shares of CONSOL Energy and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.74.
CONSOL Energy Profile
CONSOL Energy Inc (CONSOL Energy) is an integrated energy company. The Company’s divisions include Exploration and Production (E&P), Pennsylvania (PA) Mining Operations and Other. The E&P division operates through four segments: Marcellus Shale, Utica Shale, Coalbed Methane (CBM) and Other Gas, which produce pipeline quality natural gas for sale primarily to gas wholesalers.
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