Northwestern Mutual Investment Management Company LLC increased its stake in CONSOL Energy Inc. (NYSE:CNX) by 30.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,598 shares of the oil and gas producer’s stock after purchasing an additional 9,152 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in CONSOL Energy were worth $637,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CNX. ANTIPODES PARTNERS Ltd raised its holdings in shares of CONSOL Energy by 117.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 2,806,977 shares of the oil and gas producer’s stock worth $41,936,000 after purchasing an additional 1,516,289 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of CONSOL Energy by 742.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,552,569 shares of the oil and gas producer’s stock worth $23,195,000 after purchasing an additional 1,368,200 shares during the period. Bank of Montreal Can raised its holdings in shares of CONSOL Energy by 12,407.3% in the 2nd quarter. Bank of Montreal Can now owns 1,018,348 shares of the oil and gas producer’s stock worth $15,213,000 after purchasing an additional 1,010,206 shares during the period. Prudential Financial Inc. raised its holdings in shares of CONSOL Energy by 820.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,034,553 shares of the oil and gas producer’s stock worth $15,456,000 after purchasing an additional 922,170 shares during the period. Finally, State Street Corp raised its holdings in shares of CONSOL Energy by 13.2% in the 1st quarter. State Street Corp now owns 7,651,383 shares of the oil and gas producer’s stock worth $128,389,000 after purchasing an additional 892,265 shares during the period. 99.85% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on CNX shares. Barclays PLC reaffirmed a “hold” rating on shares of CONSOL Energy in a report on Wednesday, May 24th. Jefferies Group LLC set a $20.00 price target on shares of CONSOL Energy and gave the stock a “buy” rating in a report on Wednesday, May 17th. BidaskClub cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus set a $26.00 price target on shares of CONSOL Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CONSOL Energy presently has a consensus rating of “Hold” and a consensus price target of $21.74.
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Shares of CONSOL Energy Inc. (NYSE CNX) opened at 14.21 on Monday. CONSOL Energy Inc. has a 52-week low of $13.55 and a 52-week high of $22.34. The firm’s 50-day moving average is $15.08 and its 200 day moving average is $15.43. The stock’s market capitalization is $3.27 billion.
CONSOL Energy (NYSE:CNX) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The business had revenue of $865.95 million during the quarter, compared to analysts’ expectations of $678.79 million. During the same period last year, the company posted ($0.21) EPS. The business’s revenue was up 202.8% on a year-over-year basis. Equities analysts expect that CONSOL Energy Inc. will post $0.54 EPS for the current year.
CONSOL Energy declared that its Board of Directors has approved a share repurchase program on Tuesday, September 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In other CONSOL Energy news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was acquired at an average cost of $15.40 per share, with a total value of $154,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.
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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