CONSOL Energy Inc. (CNX) Given a $17.00 Price Target at SunTrust Banks, Inc.
Other equities research analysts have also issued reports about the company. Jefferies Group LLC set a $20.00 target price on CONSOL Energy and gave the stock a buy rating in a report on Monday, August 28th. Stifel Nicolaus set a $26.00 target price on CONSOL Energy and gave the stock a buy rating in a report on Friday, August 25th. Zacks Investment Research upgraded CONSOL Energy from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Monday, July 24th. Finally, Scotiabank set a $21.00 target price on CONSOL Energy and gave the stock a hold rating in a report on Saturday, July 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. CONSOL Energy has a consensus rating of Hold and a consensus target price of $20.97.
CONSOL Energy (CNX) traded up 0.13% on Tuesday, reaching $15.85. 1,132,986 shares of the company traded hands. The stock’s market capitalization is $3.65 billion. The firm has a 50 day moving average price of $15.77 and a 200 day moving average price of $15.53. CONSOL Energy has a 52-week low of $13.55 and a 52-week high of $22.34.
CONSOL Energy (NYSE:CNX) last posted its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. The firm had revenue of $865.95 million during the quarter, compared to analyst estimates of $678.79 million. During the same period in the previous year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 202.8% on a year-over-year basis. Equities research analysts predict that CONSOL Energy will post $0.47 EPS for the current year.
CONSOL Energy announced that its board has initiated a share repurchase plan on Tuesday, September 5th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director J. Palmer Clarkson acquired 10,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $15.40 per share, for a total transaction of $154,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CNX. Key Group Holdings Cayman LTD. increased its position in shares of CONSOL Energy by 3,182.6% during the second quarter. Key Group Holdings Cayman LTD. now owns 1,721,238 shares of the oil and gas producer’s stock valued at $25,715,000 after purchasing an additional 1,668,802 shares during the period. ANTIPODES PARTNERS Ltd grew its position in CONSOL Energy by 117.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 2,806,977 shares of the oil and gas producer’s stock valued at $41,936,000 after acquiring an additional 1,516,289 shares during the period. Canada Pension Plan Investment Board grew its position in CONSOL Energy by 742.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,552,569 shares of the oil and gas producer’s stock valued at $23,195,000 after acquiring an additional 1,368,200 shares during the period. Bank of Montreal Can grew its position in CONSOL Energy by 12,407.3% in the second quarter. Bank of Montreal Can now owns 1,018,348 shares of the oil and gas producer’s stock valued at $15,213,000 after acquiring an additional 1,010,206 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in CONSOL Energy by 11.8% in the second quarter. Dimensional Fund Advisors LP now owns 9,493,977 shares of the oil and gas producer’s stock valued at $141,844,000 after acquiring an additional 1,003,459 shares during the period. Institutional investors and hedge funds own 99.84% of the company’s stock.
About CONSOL Energy
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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