Zacks Investment Research downgraded shares of CONSOL Energy Inc. (NYSE:CNX) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “Shares of CONSOL Energy have gained lower than the industry in the last six months. CONSOL's dependence on a limited group of customers for bulk sales of coal and operation of traditionally risky underground mines are headwinds. Dependence on third party assets for natural gas transportation and highly competitive natural space also remain risks. CONSOL’s focus on Exploration and Production(E&P) business continues to yield positive results. CONSOL has taken initiatives to separate its mining and E&P divisions. Thanks to its solid asset base, it is well poised to achieve the E&P production targets. CONSOL continues to lower its debt level, thanks to its free cash flow generation capability.”

Several other brokerages also recently issued reports on CNX. Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the stock a hold rating in a research note on Tuesday, August 1st. Jefferies Group LLC restated a buy rating and issued a $20.00 price objective on shares of CONSOL Energy in a research note on Tuesday. Susquehanna Bancshares Inc raised 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. Stifel Nicolaus restated a buy rating and issued a $26.00 price objective on shares of CONSOL Energy in a research note on Friday, July 14th. Finally, BidaskClub upgraded shares of CONSOL Energy from a strong sell rating to a sell rating in a research note on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $21.37.

CONSOL Energy (NYSE:CNX) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The business had revenue of $865.95 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 202.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) earnings per share.

WARNING: “CONSOL Energy Inc. (CNX) Cut to “Sell” at Zacks Investment Research” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/10/13/consol-energy-inc-cnx-cut-to-sell-at-zacks-investment-research.html.

CONSOL Energy announced that its board has authorized a share buyback program on Tuesday, September 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the oil and gas producer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other CONSOL Energy news, Director J. Palmer Clarkson purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $15.40 per share, for a total transaction of $154,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning boosted its stake in CONSOL Energy by 59.0% during the second quarter. Creative Planning now owns 7,239 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 2,686 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 631 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in CONSOL Energy during the first quarter worth $136,000. Two Sigma Securities LLC acquired a new stake in CONSOL Energy during the first quarter worth $169,000. Finally, Trexquant Investment LP acquired a new stake in CONSOL Energy during the first quarter worth $176,000. Hedge funds and other institutional investors own 99.84% of the company’s stock.

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.

Get a free copy of the Zacks research report on CONSOL Energy (CNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CONSOL Energy (NYSE:CNX)

Receive News & Stock Ratings for CONSOL Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONSOL Energy Inc. and related stocks with our FREE daily email newsletter.