CONSOL Energy Inc. (NYSE:CNX) posted its quarterly earnings data on Tuesday. The oil and gas producer reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.23), RTT News reports. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. The firm had revenue of $671.30 million during the quarter, compared to analysts’ expectations of $623.00 million. During the same period last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year.
Shares of CONSOL Energy (NYSE CNX) opened at 16.46 on Wednesday. The firm has a 50-day moving average of $16.21 and a 200 day moving average of $15.48. The firm’s market capitalization is $3.79 billion. CONSOL Energy has a 52 week low of $13.55 and a 52 week high of $22.34.
CONSOL Energy announced that its Board of Directors has authorized a stock buyback plan on Tuesday, September 5th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the oil and gas producer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, Director J. Palmer Clarkson acquired 10,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $15.40 per share, with a total value of $154,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.
A number of analysts recently weighed in on the stock. Scotiabank set a $21.00 price objective on shares of CONSOL Energy and gave the stock a “hold” rating in a research report on Tuesday, August 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 reaffirmed a “buy” rating and set a $20.00 target price on shares of CONSOL Energy in a research report on Tuesday, October 10th. Susquehanna Bancshares Inc raised their target price on shares of CONSOL Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 target price on shares of CONSOL Energy in a research report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.97.
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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