Brokerages Set CONSOL Energy Inc. (CNX) Target Price at $21.81
Shares of CONSOL Energy Inc. (NYSE:CNX) have been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.78.
Several research firms recently commented on CNX. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 price objective on shares of CONSOL Energy in a research note on Friday, July 14th. Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the stock a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research lowered shares of CONSOL Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Susquehanna Bancshares Inc boosted their price objective on shares of CONSOL Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 25th. Finally, BidaskClub lowered shares of CONSOL Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd.
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In other CONSOL Energy news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $15.40 per share, with a total value of $154,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in CNX. Creative Planning boosted its holdings in shares of CONSOL Energy by 59.0% in the 2nd quarter. Creative Planning now owns 7,239 shares of the oil and gas producer’s stock valued at $108,000 after acquiring an additional 2,686 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CONSOL Energy by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock valued at $114,000 after acquiring an additional 631 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of CONSOL Energy in the 1st quarter valued at $136,000. Two Sigma Securities LLC purchased a new stake in shares of CONSOL Energy in the 1st quarter valued at $169,000. Finally, Trexquant Investment LP purchased a new stake in shares of CONSOL Energy in the 1st quarter valued at $176,000. 99.84% of the stock is currently owned by institutional investors and hedge funds.
CONSOL Energy (NYSE:CNX) traded down 1.89% during midday trading on Friday, hitting $16.57. 2,031,343 shares of the stock were exchanged. The firm’s 50 day moving average price is $15.47 and its 200 day moving average price is $15.52. The company’s market cap is $3.81 billion. CONSOL Energy has a 12 month low of $13.55 and a 12 month high of $22.34.
CONSOL Energy (NYSE:CNX) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $865.95 million during the quarter, compared to analyst estimates of $678.79 million. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. CONSOL Energy’s revenue was up 202.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) EPS. On average, equities research analysts forecast that CONSOL Energy will post $0.53 earnings per share for the current fiscal year.
CONSOL Energy announced that its board has authorized a stock repurchase program on Tuesday, September 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management 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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