Short Interest in CONSOL Energy Inc. (CNX) Declines By 53.3%

CONSOL Energy Inc. (NYSE:CNX) saw a significant decrease in short interest in the month of September. As of September 29th, there was short interest totalling 8,490,608 shares, a decrease of 53.3% from the September 15th total of 18,174,737 shares. Based on an average daily trading volume, of 2,504,617 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.7% of the shares of the stock are short sold.

In related news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $15.40 per share, for a total transaction of $154,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of 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 acquiring an additional 2,686 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 631 shares in the last quarter. FNY Managed Accounts LLC purchased a new position in shares of CONSOL Energy in the first quarter worth approximately $136,000. Two Sigma Securities LLC purchased a new position in shares of CONSOL Energy in the first quarter worth approximately $169,000. Finally, Virtu KCG Holdings LLC purchased a new position in shares of CONSOL Energy in the second quarter worth approximately $179,000. 99.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of CONSOL Energy (CNX) opened at 16.08 on Thursday. CONSOL Energy has a 52-week low of $13.55 and a 52-week high of $22.34. The firm’s market capitalization is $3.70 billion. The stock has a 50 day moving average of $15.85 and a 200 day moving average of $15.53.

CONSOL Energy (NYSE:CNX) last released its earnings results 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. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The business had revenue of $865.95 million for the quarter, compared to the consensus estimate of $678.79 million. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 202.8% on a year-over-year basis. On average, analysts predict that CONSOL Energy will post $0.47 EPS for the current fiscal year.

CONSOL Energy declared that its board has authorized a stock repurchase program on Tuesday, September 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several brokerages have weighed in on CNX. Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of CONSOL Energy in a research report on Friday, July 14th. Scotiabank set a $21.00 target price on shares of CONSOL Energy and gave the stock a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research lowered shares of CONSOL Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $20.00 target price on shares of CONSOL Energy in a research report on Tuesday, October 10th. Finally, BidaskClub lowered shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.97.

TRADEMARK VIOLATION WARNING: “Short Interest in CONSOL Energy Inc. (CNX) Declines By 53.3%” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright legislation. The original version of this article can be viewed at https://ledgergazette.com/2017/10/19/short-interest-in-consol-energy-inc-cnx-declines-by-53-3.html.

CONSOL Energy Company Profile

CONSOL Energy Inc (CONSOL Energy) is an integrated energy co

In related news, Director J. Palmer Clarkson bought 10,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $15.40 per share, for a total transaction of $154,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of 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 acquiring an additional 2,686 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 631 shares in the last quarter. FNY Managed Accounts LLC purchased a new position in shares of CONSOL Energy in the first quarter worth approximately $136,000. Two Sigma Securities LLC purchased a new position in shares of CONSOL Energy in the first quarter worth approximately $169,000. Finally, Virtu KCG Holdings LLC purchased a new position in shares of CONSOL Energy in the second quarter worth approximately $179,000. 99.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of CONSOL Energy (CNX) opened at 16.08 on Thursday. CONSOL Energy has a 52-week low of $13.55 and a 52-week high of $22.34. The firm’s market capitalization is $3.70 billion. The stock has a 50 day moving average of $15.85 and a 200 day moving average of $15.53.

CONSOL Energy (NYSE:CNX) last released its earnings results 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. CONSOL Energy had a negative net margin of 5.42% and a positive return on equity of 1.09%. The business had revenue of $865.95 million for the quarter, compared to the consensus estimate of $678.79 million. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 202.8% on a year-over-year basis. On average, analysts predict that CONSOL Energy will post $0.47 EPS for the current fiscal year.

CONSOL Energy declared that its board has authorized a stock repurchase program on Tuesday, September 5th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several brokerages have weighed in on CNX. Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of CONSOL Energy in a research report on Friday, July 14th. Scotiabank set a $21.00 target price on shares of CONSOL Energy and gave the stock a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research lowered shares of CONSOL Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $20.00 target price on shares of CONSOL Energy in a research report on Tuesday, October 10th. Finally, BidaskClub lowered shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.97.

TRADEMARK VIOLATION WARNING: “Short Interest in CONSOL Energy Inc. (CNX) Declines By 53.3%” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright legislation. The original version of this article can be viewed at https://ledgergazette.com/2017/10/19/short-interest-in-consol-energy-inc-cnx-declines-by-53-3.html.

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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