CONSOL Energy Inc. (CNX) Shares Sold by Profund Advisors LLC
Profund Advisors LLC lowered its stake in CONSOL Energy Inc. (NYSE:CNX) by 36.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,343 shares of the oil and gas producer’s stock after selling 15,121 shares during the quarter. Profund Advisors LLC’s holdings in CONSOL Energy were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. World Asset Management Inc increased its stake in CONSOL Energy by 0.3% in the 1st quarter. World Asset Management Inc now owns 11,644 shares of the oil and gas producer’s stock worth $195,000 after acquiring an additional 37 shares during the last quarter. Capstone Asset Management Co. boosted its holdings in shares of CONSOL Energy by 1.7% in the 2nd quarter. Capstone Asset Management Co. now owns 17,473 shares of the oil and gas producer’s stock worth $261,000 after purchasing an additional 300 shares during the period. Utah Retirement Systems boosted its holdings in shares of CONSOL Energy by 0.7% in the 2nd quarter. Utah Retirement Systems now owns 41,671 shares of the oil and gas producer’s stock worth $623,000 after purchasing an additional 300 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its holdings in shares of CONSOL Energy by 0.5% in the 1st quarter. Liberty Mutual Group Asset Management Inc. now owns 79,735 shares of the oil and gas producer’s stock worth $1,337,000 after purchasing an additional 362 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in CONSOL Energy by 4.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,921 shares of the oil and gas producer’s stock valued at $223,000 after acquiring an additional 577 shares during the period. 99.84% of the stock is currently owned by institutional investors.
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Shares of CONSOL Energy Inc. (NYSE CNX) traded down 1.43% during trading on Friday, reaching $15.87. The company’s stock had a trading volume of 2,723,171 shares. CONSOL Energy Inc. has a 52 week low of $13.55 and a 52 week high of $22.34. The firm’s market capitalization is $3.65 billion. The company has a 50 day moving average price of $15.74 and a 200 day moving average price of $15.54.
CONSOL Energy (NYSE:CNX) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share for the quarter, topping the 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 analyst estimates of $678.79 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. CONSOL Energy’s quarterly revenue was up 202.8% on a year-over-year basis. On average, equities research analysts expect that CONSOL Energy Inc. will post $0.53 EPS for the current fiscal year.
CONSOL Energy announced that its board has initiated a share repurchase program on Tuesday, September 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other CONSOL Energy news, Director J. Palmer Clarkson bought 10,000 shares of CONSOL Energy stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $15.40 per share, for a total transaction of $154,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
CNX has been the subject of a number of recent analyst reports. BidaskClub cut CONSOL Energy from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Scotiabank set a $21.00 target price on CONSOL Energy and gave the stock a “hold” rating in a report on Saturday, July 1st. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of CONSOL Energy in a research report on Friday, July 14th. Jefferies Group LLC set a $20.00 price target on CONSOL Energy and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research raised CONSOL Energy from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $21.37.
CONSOL Energy 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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