Clinton Group Inc. Grows Stake in CONSOL Energy Inc. (CNX)
Clinton Group Inc. increased its stake in shares of CONSOL Energy Inc. (NYSE:CNX) by 304.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,862 shares of the oil and gas producer’s stock after purchasing an additional 67,639 shares during the period. Clinton Group Inc.’s holdings in CONSOL Energy were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in CONSOL Energy by 59.0% in the 2nd quarter. Creative Planning now owns 7,239 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 2,686 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 in the last quarter. FNY Managed Accounts LLC purchased a new stake in CONSOL Energy during the 1st quarter worth approximately $136,000. Two Sigma Securities LLC purchased a new stake in CONSOL Energy during the 1st quarter worth approximately $169,000. Finally, Trexquant Investment LP purchased a new stake in CONSOL Energy during the 1st quarter worth approximately $176,000. Hedge funds and other institutional investors own 99.84% of the company’s stock.
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In other CONSOL Energy news, Director J. Palmer Clarkson acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $15.40 per share, for a total transaction of $154,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
Shares of CONSOL Energy Inc. (NYSE CNX) traded up 0.06% during mid-day trading on Wednesday, hitting $16.79. 64,848 shares of the stock were exchanged. CONSOL Energy Inc. has a one year low of $13.55 and a one year high of $22.34. The stock’s market cap is $3.86 billion. The company has a 50-day moving average of $15.26 and a 200 day moving average of $15.50.
CONSOL Energy (NYSE:CNX) last released its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The firm had revenue of $865.95 million during the quarter, compared to analysts’ expectations of $678.79 million. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. CONSOL Energy’s revenue for the quarter was up 202.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) EPS. On average, equities analysts predict that CONSOL Energy Inc. will post $0.53 earnings per share for the current year.
CONSOL Energy announced that its board has approved a share repurchase program on Tuesday, September 5th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
CNX has been the subject of a number of research analyst reports. BidaskClub raised CONSOL Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Scotiabank set a $21.00 price target on CONSOL Energy and gave the stock a “hold” rating in a research note on Saturday, July 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price target on shares of CONSOL Energy in a research note on Friday, July 14th. Jefferies Group LLC set a $20.00 price target on CONSOL Energy and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded CONSOL Energy from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $21.37.
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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