FBR & Co Reaffirms “Outperform” Rating for Consol Energy Inc. (CNX)
Consol Energy Inc. (NYSE:CNX)‘s stock had its “outperform” rating restated by research analysts at FBR & Co in a report issued on Thursday. They currently have a $22.00 price target on the stock, up from their prior price target of $21.00. FBR & Co’s price objective would suggest a potential upside of 10.83% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Bank of America Corp. upgraded Consol Energy from an “underperform” rating to a “neutral” rating in a research note on Monday, August 15th. Morgan Stanley reissued a “hold” rating and issued a $29.00 price objective on shares of Consol Energy in a report on Tuesday, August 16th. Zacks Investment Research raised Consol Energy from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, July 18th. Vetr cut Consol Energy from a “strong-buy” rating to a “buy” rating and set a $20.30 price objective for the company. in a report on Monday, August 29th. Finally, Scotiabank reissued a “sector perform” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Consol Energy in a report on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $15.79.
Consol Energy (NYSE:CNX) opened at 19.85 on Thursday. The stock’s market cap is $4.55 billion. Consol Energy has a 12-month low of $4.54 and a 12-month high of $20.66. The firm’s 50-day moving average price is $18.39 and its 200 day moving average price is $16.00.
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Consol Energy (NYSE:CNX) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The firm had revenue of $285.80 million for the quarter, compared to analysts’ expectations of $566.84 million. Consol Energy had a negative net margin of 17.27% and a negative return on equity of 3.31%. The firm’s revenue for the quarter was down 47.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.37) EPS. Analysts anticipate that Consol Energy will post ($0.45) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC raised its position in shares of Consol Energy by 298.4% in the first quarter. Nuveen Asset Management LLC now owns 103,353 shares of the company’s stock valued at $1,167,000 after buying an additional 77,412 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Consol Energy by 21.7% in the first quarter. TIAA CREF Investment Management LLC now owns 652,842 shares of the company’s stock valued at $7,371,000 after buying an additional 116,207 shares during the last quarter. Virginia Retirement System acquired a new position in shares of Consol Energy during the first quarter valued at $331,000. M&T Bank Corp raised its position in shares of Consol Energy by 21.7% in the first quarter. M&T Bank Corp now owns 16,206 shares of the company’s stock valued at $182,000 after buying an additional 2,894 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Consol Energy by 7.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,819,934 shares of the company’s stock valued at $76,997,000 after buying an additional 448,079 shares during the last quarter.
Consol Energy Company Profile
CONSOL Energy Inc (CONSOL Energy) is an integrated energy company that operates through two divisions: oil and gas exploration and production (E&P) and coal mining. The principal activity of the E&P division is to produce pipeline quality natural gas for sale primarily to natural gas wholesalers. The E&P division’s segments are Marcellus, Utica, Coalbed Methane, and Other Gas.
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