Bridgewater Associates LP grew its position in CONSOL Energy Inc. (NYSE:CNX) by 252.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,283 shares of the oil and gas producer’s stock after buying an additional 46,736 shares during the quarter. Bridgewater Associates LP’s holdings in CONSOL Energy were worth $975,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Creative Planning lifted its holdings in shares of CONSOL Energy by 59.0% in the 2nd 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 period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CONSOL Energy by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock worth $114,000 after purchasing an additional 631 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of CONSOL Energy during the 1st quarter worth $136,000. Two Sigma Securities LLC purchased a new stake in shares of CONSOL Energy during the 1st quarter worth $169,000. Finally, Trexquant Investment LP purchased a new stake in shares of CONSOL Energy during the 1st quarter worth $176,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
In other CONSOL Energy news, Director J. Palmer Clarkson purchased 10,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of $15.40 per share, with a total value of $154,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.
Several research analysts recently issued reports on CNX shares. Jefferies Group LLC set a $20.00 target price on CONSOL Energy and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub raised CONSOL Energy from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Scotiabank set a $21.00 target price on CONSOL Energy and gave the stock a “hold” rating in a report on Tuesday, August 1st. ValuEngine lowered CONSOL Energy from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus set a $26.00 target price on CONSOL Energy and gave the stock a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CONSOL Energy currently has an average rating of “Hold” and an average price target of $21.74.
Shares of CONSOL Energy Inc. (NYSE:CNX) opened at 15.68 on Friday. The stock’s market capitalization is $3.61 billion. The firm’s 50-day moving average price is $14.91 and its 200-day moving average price is $15.40. CONSOL Energy Inc. has a one year low of $13.55 and a one year high of $22.34.
CONSOL Energy (NYSE:CNX) last issued its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share (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 for the quarter, compared to analysts’ expectations of $678.79 million. During the same quarter last year, the company posted ($0.21) earnings per share. CONSOL Energy’s revenue was up 202.8% on a year-over-year basis. Equities research analysts anticipate that CONSOL Energy Inc. will post $0.53 EPS for the current fiscal year.
CONSOL Energy declared that its board has initiated a stock buyback program 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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