CONSOL Energy Inc. (CNX) Stake Raised by Van ECK Associates Corp
Van ECK Associates Corp grew its stake in CONSOL Energy Inc. (NYSE:CNX) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,874,962 shares of the oil and gas producer’s stock after purchasing an additional 113,594 shares during the quarter. Van ECK Associates Corp owned approximately 2.55% of CONSOL Energy worth $99,522,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Creative Planning raised its stake 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 purchasing an additional 2,686 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 purchasing an additional 631 shares in the last quarter. Emerald Advisers Inc. PA acquired a new stake in shares of CONSOL Energy in the 3rd quarter valued at about $192,000. Virtu KCG Holdings LLC acquired a new stake in shares of CONSOL Energy in the 2nd quarter valued at about $179,000. Finally, LS Investment Advisors LLC raised its stake in shares of CONSOL Energy by 20.5% in the 2nd quarter. LS Investment Advisors LLC now owns 14,168 shares of the oil and gas producer’s stock valued at $212,000 after purchasing an additional 2,414 shares in the last quarter. Institutional investors and hedge funds own 96.39% of the company’s stock.
A number of brokerages have recently issued reports on CNX. B. Riley began coverage on shares of CONSOL Energy in a research note on Tuesday. They issued a “buy” rating and a $32.00 target price on the stock. Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the stock a “hold” rating in a research note on Monday, November 13th. Zacks Investment Research lowered shares of CONSOL Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. set a $17.00 price objective on shares of CONSOL Energy and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $24.00 price objective on shares of CONSOL Energy in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $21.81.
Shares of CONSOL Energy Inc. (NYSE:CNX) opened at $16.43 on Friday. The firm has a market cap of $3,780.61, a PE ratio of 86.47 and a beta of 1.54. CONSOL Energy Inc. has a 12 month low of $13.55 and a 12 month high of $22.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 0.94.
CONSOL Energy (NYSE:CNX) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas producer reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.14). The business had revenue of $671.30 million for the quarter, compared to analyst estimates of $623.00 million. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 7.49%. CONSOL Energy’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. analysts expect that CONSOL Energy Inc. will post 0.25 EPS for the current year.
CONSOL Energy declared that its board has approved a stock repurchase program on Tuesday, September 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas producer to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
CONSOL Energy 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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