McLean Capital Management Upgrades Consol Energy to Neutral (CNX)
Consol Energy (NYSE:CNX) was upgraded by investment analysts at McLean Capital Management from a “sell” rating to a “neutral” rating in a note issued to investors on Friday, Analyst Ratings Network reports.
In other Consol Energy news, Director Alvin Carpenter bought 30,000 shares of the company’s stock on the open market in a transaction dated Monday, February 10th. The stock was purchased at an average price of $36.71 per share, with a total value of $1,101,300.00. Following the completion of the transaction, the director now directly owns 34,584 shares of the company’s stock, valued at approximately $1,269,579. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Consol Energy (NYSE:CNX) traded down 0.58% on Friday, hitting $39.69. The stock had a trading volume of 2,019,001 shares. Consol Energy has a 1-year low of $26.25 and a 1-year high of $41.01. The stock’s 50-day moving average is $37.70 and its 200-day moving average is $35.82. The company has a market cap of $9.095 billion and a P/E ratio of 13.91. Consol Energy also saw unusually large options trading on Wednesday. Traders purchased 21,117 put options on the stock. This represents an increase of 1,222% compared to the average volume of 1,597 put options.
Consol Energy (NYSE:CNX) last announced its earnings results on Friday, January 31st. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.56. The company had revenue of $825.23 million for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. Analysts expect that Consol Energy will post $1.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, February 12th.
A number of other firms have also recently commented on CNX. Analysts at Zacks reiterated a “neutral” rating on shares of Consol Energy in a research note on Tuesday, February 4th. They now have a $39.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Consol Energy in a research note on Monday, December 23rd. They set a “neutral” rating and a $41.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Consol Energy in a research note on Thursday, December 12th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.53.
CONSOL Energy Inc (NYSE:CNX) is a producer of coal and natural gas for global energy and raw material markets, which include the electric power generation industry and the steelmaking industry.
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