TIAA CREF Investment Management LLC Raises Position in CONSOL Energy Inc. (CNX)
TIAA CREF Investment Management LLC increased its position in shares of CONSOL Energy Inc. (NYSE:CNX) by 0.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 717,012 shares of the oil and gas producer’s stock after acquiring an additional 4,134 shares during the period. TIAA CREF Investment Management LLC owned about 0.31% of CONSOL Energy worth $10,712,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Creative Planning grew its position in CONSOL Energy by 59.0% during the 2nd quarter. Creative Planning now owns 7,239 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 2,686 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CONSOL Energy by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock worth $114,000 after acquiring an additional 631 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in CONSOL Energy during the 1st quarter worth $136,000. Two Sigma Securities LLC bought a new stake in CONSOL Energy during the 1st quarter worth $169,000. Finally, Trexquant Investment LP bought a new stake in CONSOL Energy during the 1st quarter worth $176,000. Institutional investors and hedge funds own 99.84% of the company’s stock.
In other CONSOL Energy news, Director J. Palmer Clarkson bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of $15.40 per share, with a total value of $154,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.
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A number of research firms have commented on CNX. BidaskClub upgraded CONSOL Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Jefferies Group LLC set a $20.00 price target on CONSOL Energy and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research lowered CONSOL Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Stifel Nicolaus set a $26.00 price target on CONSOL Energy and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, ValuEngine lowered CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.37.
CONSOL Energy Inc. (CNX) opened at 16.62 on Thursday. The firm’s market capitalization is $3.82 billion. The stock has a 50 day moving average price of $15.32 and a 200-day moving average price of $15.50. CONSOL Energy Inc. 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.07. The company had revenue of $865.95 million for the quarter, compared to analysts’ expectations of $678.79 million. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. CONSOL Energy’s quarterly revenue was up 202.8% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. Analysts anticipate that CONSOL Energy Inc. will post $0.53 EPS for the current fiscal year.
CONSOL Energy announced that its board has initiated a stock buyback program on Tuesday, September 5th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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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