CONSOL Energy Inc. (NYSE:CNX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, July 24th. The firm currently has a $18.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 26.32% from the stock’s previous close.
According to Zacks, “CONSOL Energy’s increasing focus on E&P business is yielding positive results. Thanks to its solid asset base, the company is well poised to achieve the new E&P production targets. The company sold non-core E&P assets in the reported quarter and continues to pursue its strategy of separating the coal and E&P business. Besides, it continues to implement its hedge program and some volume of natural gas production is hedged through 2020 to protect against fluctuating prices. The company has taken steps to separate its mining and E&P division. However, CONSOL Energy’s shares returned lower than the broader industry in the last one month. CONSOL’s dependence on a limited group of customers for bulk sales of coal and operation of traditionally risky underground mines are headwinds.”
A number of other equities research analysts also recently weighed in on CNX. Scotiabank set a $24.00 target price on CONSOL Energy and gave the stock a “hold” rating in a report on Saturday, April 22nd. Jefferies Group LLC set a $20.00 price target on CONSOL Energy and gave the company a “buy” rating in a research note on Wednesday, July 19th. ValuEngine downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price target on shares of CONSOL Energy in a research note on Friday, July 14th. Finally, FBR & Co reaffirmed a “buy” rating on shares of CONSOL Energy in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.86.
CONSOL Energy (NYSE CNX) traded up 1.28% during trading on Monday, reaching $14.25. 2,914,140 shares of the company traded hands. The company’s 50-day moving average is $15.49 and its 200 day moving average is $15.70. The company’s market cap is $3.28 billion. CONSOL Energy has a 12 month low of $13.55 and a 12 month high of $22.34.
CONSOL Energy (NYSE:CNX) last released its quarterly earnings data 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. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The firm had revenue of $865.95 million during the quarter, compared to analysts’ expectations of $678.79 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was up 202.8% compared to the same quarter last year. On average, analysts anticipate that CONSOL Energy will post $0.61 earnings per share for the current year.
In other news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were bought at an average cost of $15.40 per share, with a total value of $154,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of CNX. James Investment Research Inc. raised its position in shares of CONSOL Energy by 10.1% in the first quarter. James Investment Research Inc. now owns 7,222 shares of the oil and gas producer’s stock worth $121,000 after buying an additional 662 shares during the last quarter. Creative Planning raised its stake in CONSOL Energy by 59.0% in the second quarter. Creative Planning now owns 7,239 shares of the oil and gas producer’s stock worth $108,000 after buying an additional 2,686 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CONSOL Energy by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock worth $114,000 after buying an additional 631 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in CONSOL Energy during the first quarter worth approximately $136,000. Finally, Two Sigma Securities LLC bought a new stake in CONSOL Energy during the first quarter worth approximately $169,000.
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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