Shares of CONSOL Energy Inc. (NYSE:CNX) have received an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $22.45.
A number of equities research analysts have recently weighed in on CNX shares. Scotiabank set a $21.00 target price on CONSOL Energy and gave the stock a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded CONSOL Energy from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, July 24th. ValuEngine downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub upgraded CONSOL Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Jefferies Group LLC set a $20.00 target price on CONSOL Energy and gave the stock a “buy” rating in a research report on Wednesday, July 19th.
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In related news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $15.40 per share, for a total transaction of $154,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in CONSOL Energy in the second quarter valued at about $573,000. Raffles Associates LP increased its holdings in CONSOL Energy by 22.7% in the second quarter. Raffles Associates LP now owns 270,000 shares of the oil and gas producer’s stock valued at $4,034,000 after purchasing an additional 50,000 shares during the last quarter. Verition Fund Management LLC bought a new stake in CONSOL Energy in the second quarter valued at about $287,000. Sterling Capital Management LLC increased its holdings in CONSOL Energy by 35.7% in the second quarter. Sterling Capital Management LLC now owns 194,724 shares of the oil and gas producer’s stock valued at $2,909,000 after purchasing an additional 51,278 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in CONSOL Energy by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 262,092 shares of the oil and gas producer’s stock valued at $3,916,000 after purchasing an additional 5,707 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.
Shares of CONSOL Energy (CNX) traded up 3.03% on Wednesday, hitting $14.64. The stock had a trading volume of 5,792,012 shares. The firm has a 50 day moving average price of $15.05 and a 200-day moving average price of $15.40. The company’s market cap is $3.37 billion. CONSOL Energy has a 52 week low of $13.55 and a 52 week 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 analysts’ consensus estimates of $0.10 by $0.07. The company had revenue of $865.95 million for the quarter, compared to analyst estimates of $678.79 million. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. The business’s revenue was up 202.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Analysts anticipate that CONSOL Energy will post $0.54 EPS for the current year.
CONSOL Energy announced that its board has approved a share repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is 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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