State Treasurer State of Michigan boosted its stake in shares of CONSOL Energy Inc. (NYSE:CNX) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,000 shares of the oil and gas producer’s stock after buying an additional 1,200 shares during the period. State Treasurer State of Michigan’s holdings in CONSOL Energy were worth $1,091,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Aperio Group LLC boosted its stake in CONSOL Energy by 6.9% in the second quarter. Aperio Group LLC now owns 139,397 shares of the oil and gas producer’s stock valued at $2,083,000 after buying an additional 8,991 shares during the period. Louisiana State Employees Retirement System boosted its stake in CONSOL Energy by 3.6% in the second quarter. Louisiana State Employees Retirement System now owns 46,200 shares of the oil and gas producer’s stock valued at $690,000 after buying an additional 1,600 shares during the period. LS Investment Advisors LLC boosted its stake in CONSOL Energy by 20.5% in the second quarter. LS Investment Advisors LLC now owns 14,168 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 2,414 shares during the period. Ardevora Asset Management LLP boosted its stake in CONSOL Energy by 44.0% in the second quarter. Ardevora Asset Management LLP now owns 1,552,600 shares of the oil and gas producer’s stock valued at $23,196,000 after buying an additional 474,100 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in CONSOL Energy by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 64,684 shares of the oil and gas producer’s stock valued at $966,000 after buying an additional 2,785 shares during the period.
Shares of CONSOL Energy Inc. (NYSE:CNX) traded up 2.878% during midday trading on Friday, hitting $14.475. 1,334,435 shares of the stock were exchanged. The firm has a 50 day moving average of $15.52 and a 200-day moving average of $15.73. CONSOL Energy Inc. has a 12 month low of $13.55 and a 12 month high of $22.34. The stock’s market cap is $3.33 billion.
CONSOL Energy (NYSE:CNX) last announced its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $865.95 million for the quarter, compared to the consensus estimate of $678.79 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The business’s revenue for the quarter was up 202.8% on a year-over-year basis. Equities research analysts anticipate that CONSOL Energy Inc. will post $0.61 EPS for the current year.
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CNX has been the topic of several research reports. Barclays PLC restated a “hold” rating on shares of CONSOL Energy in a research report on Wednesday, May 24th. KLR Group restated a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of CONSOL Energy in a research report on Wednesday, May 3rd. Jefferies Group LLC set a $20.00 price objective on shares of CONSOL Energy and gave the company a “buy” rating in a research report on Wednesday, May 17th. BidaskClub cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Monday. Finally, ValuEngine cut shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.86.
In other news, Director J. Palmer Clarkson bought 10,000 shares of CONSOL Energy stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price 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 is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.
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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