Howard Hughes Medical Institute boosted its position in CONSOL Energy Inc. (NYSE:CNX) by 19.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,371 shares of the oil and gas producer’s stock after acquiring an additional 22,183 shares during the quarter. Howard Hughes Medical Institute owned 0.06% of CONSOL Energy worth $2,037,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Thrivent Financial For Lutherans increased its stake in CONSOL Energy by 7.8% in the second quarter. Thrivent Financial For Lutherans now owns 35,760 shares of the oil and gas producer’s stock valued at $534,000 after acquiring an additional 2,590 shares during the last quarter. Stevens Capital Management LP bought a new position in CONSOL Energy in the second quarter valued at approximately $1,103,000. BlueMountain Capital Management LLC bought a new position in CONSOL Energy in the second quarter valued at approximately $1,034,000. Amalgamated Bank increased its stake in CONSOL Energy by 26.9% in the second quarter. Amalgamated Bank now owns 40,477 shares of the oil and gas producer’s stock valued at $605,000 after acquiring an additional 8,570 shares during the last quarter. Finally, Nationwide Fund Advisors increased its stake in CONSOL Energy by 2.2% in the second quarter. Nationwide Fund Advisors now owns 333,426 shares of the oil and gas producer’s stock valued at $4,981,000 after acquiring an additional 7,088 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of CONSOL Energy Inc. (NYSE CNX) traded up 0.13% during trading on Friday, hitting $15.68. 7,386,470 shares of the stock were exchanged. The firm’s market capitalization is $3.61 billion. CONSOL Energy Inc. has a 52 week low of $13.55 and a 52 week high of $22.34. The stock’s 50 day moving average price is $14.91 and its 200 day moving average price is $15.40.
CONSOL Energy (NYSE:CNX) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.07. The firm had revenue of $865.95 million for the quarter, compared to analyst estimates of $678.79 million. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The business’s revenue for the quarter was up 202.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, equities analysts predict that CONSOL Energy Inc. will post $0.53 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 buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of research analysts recently issued reports on the stock. Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the company a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of CONSOL Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Jefferies Group LLC set a $20.00 price objective on shares of CONSOL Energy and gave the company a “buy” rating in a research note on Wednesday, July 19th. Barclays PLC reaffirmed a “hold” rating on shares of CONSOL Energy in a research note on Wednesday, May 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 target price on shares of CONSOL Energy in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.74.
In related news, Director J. Palmer Clarkson purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $15.40 per share, with a total value of $154,000.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.
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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