22.1% Stake of CONSOL Energy Inc. (CNX) Maintained by Southeastern Asset Management Inc
Southeastern Asset Management Inc
stated that they own a 22.1% stake in CONSOL Energy Inc. (NYSE:CNX) in a Form 13D/A disclosure that was filed with the SEC on Thursday, November 16th. The investor owns 50,739,876 shares of the stock worth about $808,793,623. The reporting parties listed on the disclosure included Southeastern Asset Management, Inc ID No 620951781, Longleaf Partners Fund ID No 636147721, Longleaf Partners SmallCap Fund ID No 621376170 and O Mason Hawkins ID No XXXXXXXXX. The filing is available through EDGAR at this link.
Several other institutional investors have also modified their holdings of the business. Capstone Asset Management Co. lifted its stake in shares of CONSOL Energy by 1.7% during the 2nd quarter. Capstone Asset Management Co. now owns 17,473 shares of the oil and gas producer’s stock worth $261,000 after purchasing an additional 300 shares during the period. Utah Retirement Systems increased its holdings in shares of CONSOL Energy by 0.7% during the 2nd quarter. Utah Retirement Systems now owns 41,671 shares of the oil and gas producer’s stock worth $623,000 after buying an additional 300 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of CONSOL Energy by 4.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,921 shares of the oil and gas producer’s stock worth $223,000 after buying an additional 577 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CONSOL Energy by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock worth $114,000 after buying an additional 631 shares during the last quarter. Finally, Suntrust Banks Inc. increased its holdings in shares of CONSOL Energy by 3.0% during the 2nd quarter. Suntrust Banks Inc. now owns 28,310 shares of the oil and gas producer’s stock worth $422,000 after buying an additional 831 shares during the last quarter. 99.84% of the stock is currently owned by institutional investors.
Shares of CONSOL Energy Inc. (CNX) traded up $0.23 during midday trading on Thursday, reaching $15.94. The company had a trading volume of 4,053,300 shares, compared to its average volume of 3,274,604. CONSOL Energy Inc. has a 52-week low of $13.55 and a 52-week high of $22.34. The firm has a market cap of $3,690.00, a P/E ratio of 82.68 and a beta of 1.54. The company has a current ratio of 0.94, a quick ratio of 0.86 and a debt-to-equity ratio of 0.62.
CONSOL Energy (NYSE:CNX) last posted its quarterly earnings data on Tuesday, October 31st. The oil and gas producer reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The firm had revenue of $671.30 million during the quarter, compared to analysts’ expectations of $623.00 million. CONSOL Energy had a negative net margin of 7.49% and a positive return on equity of 1.09%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. equities analysts predict that CONSOL Energy Inc. will post 0.34 earnings per share for the current fiscal year.
CONSOL Energy declared that its board has authorized a share repurchase plan on Tuesday, September 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
A number of analysts have recently commented on the company. Scotiabank set a $21.00 price objective on CONSOL Energy and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research downgraded CONSOL Energy from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. BidaskClub downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Susquehanna Bancshares Inc upped their price objective on CONSOL Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 25th. Finally, SunTrust Banks, Inc. set a $17.00 price objective on CONSOL Energy and gave the stock a “hold” rating in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. CONSOL Energy presently has an average rating of “Hold” and an average target price of $20.88.
CONSOL Energy Company 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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