Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of CONSOL Energy Inc. (NYSE:CNX) by 14.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,396 shares of the oil and gas producer’s stock after selling 2,525 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in CONSOL Energy were worth $230,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Chicago Equity Partners LLC boosted its stake in CONSOL Energy by 62.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 127,505 shares of the oil and gas producer’s stock valued at $1,905,000 after purchasing an additional 49,030 shares during the last quarter. Ardevora Asset Management LLP boosted its stake in CONSOL Energy by 44.0% during the 2nd quarter. Ardevora Asset Management LLP now owns 1,552,600 shares of the oil and gas producer’s stock valued at $23,196,000 after purchasing an additional 474,100 shares during the last quarter. Bridgewater Associates LP boosted its stake in CONSOL Energy by 252.0% during the 2nd quarter. Bridgewater Associates LP now owns 65,283 shares of the oil and gas producer’s stock valued at $975,000 after purchasing an additional 46,736 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in CONSOL Energy by 170.5% during the 2nd quarter. Marshall Wace North America L.P. now owns 601,636 shares of the oil and gas producer’s stock valued at $9,025,000 after purchasing an additional 379,243 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in CONSOL Energy by 820.6% during the 2nd quarter. Prudential Financial Inc. now owns 1,034,553 shares of the oil and gas producer’s stock valued at $15,456,000 after purchasing an additional 922,170 shares during the last quarter. Institutional investors and hedge funds own 99.84% of the company’s stock.
A number of research firms have recently issued reports on CNX. SunTrust Banks, Inc. set a $17.00 price target on CONSOL Energy and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research upgraded CONSOL Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. BidaskClub downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Susquehanna Bancshares Inc raised their price target on CONSOL Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 25th. Finally, Stifel Nicolaus set a $26.00 price target on CONSOL Energy and gave the stock a “buy” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $20.97.
CONSOL Energy Inc. (NYSE:CNX) opened at $15.73 on Friday. CONSOL Energy Inc. has a twelve month low of $13.55 and a twelve month high of $22.34. The company has a market capitalization of $3,619.54, a price-to-earnings ratio of 82.79 and a beta of 1.54. The company has a quick ratio of 0.86, a current ratio of 0.94 and a debt-to-equity ratio of 0.62.
CONSOL Energy (NYSE:CNX) last announced its earnings results on Tuesday, October 31st. The oil and gas producer reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 7.49%. The company had revenue of $671.30 million during the quarter, compared to the consensus estimate of $623.00 million. During the same period in the prior year, the business posted $0.04 earnings per share. CONSOL Energy’s revenue for the quarter was down 10.0% compared to the same quarter last year. analysts anticipate that CONSOL Energy Inc. will post 0.34 earnings per share for the current year.
CONSOL Energy declared that its Board of Directors has approved a share buyback program on Tuesday, September 5th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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About CONSOL Energy
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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