CONSOL Energy Inc. (CNX) Stock Rating Reaffirmed by Stifel Nicolaus
CONSOL Energy Inc. (NYSE:CNX)‘s stock had its “buy” rating restated by equities research analysts at Stifel Nicolaus in a report released on Wednesday. They presently have a $24.00 price objective on the oil and gas producer’s stock, down from their prior price objective of $26.00. Stifel Nicolaus’ price target would indicate a potential upside of 68.90% from the company’s previous close.
A number of other research firms also recently weighed in on CNX. Barclays PLC reiterated a “hold” rating on shares of CONSOL Energy in a research note on Wednesday, May 24th. Jefferies Group LLC set a $20.00 price target on shares of CONSOL Energy and gave the stock a “buy” rating in a research note on Wednesday, May 17th. BidaskClub downgraded shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. ValuEngine downgraded shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, FBR & Co reiterated a “buy” rating on shares of CONSOL Energy in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $21.74.
Shares of CONSOL Energy (CNX) traded down 1.32% during mid-day trading on Wednesday, hitting $14.21. 4,033,982 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $15.08 and a 200-day moving average price of $15.43. CONSOL Energy has a 52 week low of $13.55 and a 52 week high of $22.34. The company’s market capitalization is $3.27 billion.
CONSOL Energy (NYSE:CNX) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The firm had revenue of $865.95 million for the quarter, compared to the consensus estimate of $678.79 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The business’s revenue was up 202.8% compared to the same quarter last year. On average, equities analysts anticipate that CONSOL Energy will post $0.57 EPS for the current year.
CONSOL Energy declared that its board has initiated a share buyback plan on Tuesday, September 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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In other CONSOL Energy news, Director J. Palmer Clarkson purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average cost of $15.40 per share, with a total value of $154,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CNX. Key Group Holdings Cayman LTD. raised its holdings in shares of CONSOL Energy by 3,182.6% in 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 buying an additional 1,668,802 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of 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 buying an additional 1,516,289 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of 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 buying an additional 1,368,200 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of 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 buying an additional 1,010,206 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 buying an additional 1,003,459 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.
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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