Retirement Systems of Alabama increased its position in shares of CONSOL Energy Inc. (NYSE:CNX) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,144 shares of the oil and gas producer’s stock after purchasing an additional 38,785 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of CONSOL Energy worth $4,525,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in CNX. Chicago Equity Partners LLC raised its holdings in CONSOL Energy by 62.5% in 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 acquiring an additional 49,030 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in CONSOL Energy in the 2nd quarter valued at $573,000. Bridgewater Associates LP raised its holdings in CONSOL Energy by 252.0% in the 2nd quarter. Bridgewater Associates LP now owns 65,283 shares of the oil and gas producer’s stock valued at $975,000 after acquiring an additional 46,736 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in CONSOL Energy by 170.5% in 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 acquiring an additional 379,243 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in 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 valued at $15,456,000 after acquiring an additional 922,170 shares in the last quarter. 96.39% of the stock is owned by institutional investors and hedge funds.
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CONSOL Energy Inc. (CNX) opened at $16.27 on Wednesday. The company has a market capitalization of $3,690.87, a PE ratio of 84.42 and a beta of 1.54. CONSOL Energy Inc. has a twelve month low of $13.55 and a twelve month high of $22.34. The company has a current ratio of 0.94, a quick ratio of 0.86 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 Thomson Reuters’ consensus estimate of $0.03 by ($0.14). The company had revenue of $671.30 million for the quarter, compared to analyst estimates of $623.00 million. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 7.49%. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. equities analysts anticipate that CONSOL Energy Inc. will post 0.34 earnings per share for the current fiscal year.
CONSOL Energy declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 5th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have weighed in on CNX. Scotiabank set a $21.00 price objective on CONSOL Energy and gave the company a “hold” rating in a report on Monday, November 13th. BidaskClub cut CONSOL Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Susquehanna Bancshares Inc lifted their price objective on CONSOL Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 25th. Zacks Investment Research cut CONSOL Energy from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, B. Riley began coverage on CONSOL Energy in a report on Tuesday. They issued a “buy” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.81.
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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