Short Interest in CONSOL Energy Inc. (CNX) Drops By 53.3%
CONSOL Energy Inc. (NYSE:CNX) was the target of a large decrease in short interest during the month of September. As of September 29th, there was short interest totalling 8,490,608 shares, a decrease of 53.3% from the September 15th total of 18,174,737 shares. Based on an average daily volume of 2,504,617 shares, the short-interest ratio is currently 3.4 days. Currently, 3.7% of the shares of the stock are short sold.
Shares of CONSOL Energy (NYSE:CNX) opened at 15.87 on Monday. CONSOL Energy has a 52-week low of $13.55 and a 52-week high of $22.34. The stock’s market capitalization is $3.65 billion. The company has a 50-day moving average of $15.77 and a 200-day moving average of $15.53.
CONSOL Energy (NYSE:CNX) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $865.95 million for the quarter, compared to the consensus estimate of $678.79 million. During the same period in the previous year, the firm earned ($0.21) earnings per share. CONSOL Energy’s quarterly revenue was up 202.8% compared to the same quarter last year. Equities research analysts anticipate that CONSOL Energy will post $0.53 EPS for the current year.
CONSOL Energy declared that its Board of Directors has approved a share repurchase program 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. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently issued reports on CNX. Zacks Investment Research cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and set a $24.00 target price on shares of CONSOL Energy in a research report on Friday. Scotiabank set a $21.00 target price on shares of CONSOL Energy and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Susquehanna Bancshares Inc upped their target price on shares of CONSOL Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. CONSOL Energy presently has a consensus rating of “Hold” and an average target price of $21.37.
In related news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average price of $15.40 per share, with a total value of $154,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Capstone Asset Management Co. raised its stake in CONSOL Energy by 1.7% during the second quarter. Capstone Asset Management Co. now owns 17,473 shares of the oil and gas producer’s stock worth $261,000 after purchasing an additional 300 shares during the period. Utah Retirement Systems raised its stake in CONSOL Energy by 0.7% during the second quarter. Utah Retirement Systems now owns 41,671 shares of the oil and gas producer’s stock worth $623,000 after purchasing an additional 300 shares during the period. Liberty Mutual Group Asset Management Inc. raised its stake in CONSOL Energy by 0.5% during the first quarter. Liberty Mutual Group Asset Management Inc. now owns 79,735 shares of the oil and gas producer’s stock worth $1,337,000 after purchasing an additional 362 shares during the period. Teacher Retirement System of Texas raised its stake in CONSOL Energy by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 14,921 shares of the oil and gas producer’s stock worth $223,000 after purchasing an additional 577 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CONSOL Energy by 9.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock worth $114,000 after purchasing an additional 631 shares during the period. 99.84% of the stock is currently owned by institutional investors.
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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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