The Manufacturers Life Insurance Company Has $3.92 Million Position in CONSOL Energy Inc. (CNX)

The Manufacturers Life Insurance Company increased its position in shares of CONSOL Energy Inc. (NYSE:CNX) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 262,092 shares of the oil and gas producer’s stock after acquiring an additional 5,707 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.11% of CONSOL Energy worth $3,916,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Southeastern Asset Management Inc. TN boosted its holdings in shares of CONSOL Energy by 0.9% in the 2nd quarter. Southeastern Asset Management Inc. TN now owns 50,917,034 shares of the oil and gas producer’s stock valued at $760,701,000 after purchasing an additional 441,482 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CONSOL Energy by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,822,103 shares of the oil and gas producer’s stock valued at $206,502,000 after purchasing an additional 112,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CONSOL Energy by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,493,977 shares of the oil and gas producer’s stock valued at $141,844,000 after purchasing an additional 1,003,459 shares during the last quarter. State Street Corp boosted its holdings in shares of CONSOL Energy by 13.2% in the 1st quarter. State Street Corp now owns 7,651,383 shares of the oil and gas producer’s stock valued at $128,389,000 after purchasing an additional 892,265 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in shares of CONSOL Energy by 117.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 2,806,977 shares of the oil and gas producer’s stock valued at $41,936,000 after purchasing an additional 1,516,289 shares during the last quarter. Hedge funds and other institutional investors own 99.84% of the company’s stock.

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A number of equities analysts have weighed in on CNX shares. SunTrust Banks, Inc. set a $17.00 price target on shares of CONSOL Energy and gave the company a “hold” rating in a report on Tuesday, October 17th. Zacks Investment Research upgraded shares of CONSOL Energy from a “sell” rating to a “hold” rating in a report on Friday, October 27th. BidaskClub lowered shares of CONSOL Energy from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Susquehanna Bancshares Inc lifted their price target on shares of CONSOL Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 25th. Finally, Stifel Nicolaus set a $26.00 price target on shares of CONSOL Energy and gave the company a “buy” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $20.97.

CONSOL Energy (NYSE:CNX) last posted its earnings results on Tuesday, October 31st. The oil and gas producer reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.14). The business had revenue of $671.30 million during the quarter, compared to the consensus estimate of $623.00 million. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 7.49%. The business’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share.

CONSOL Energy announced that its board has approved a stock buyback program on Tuesday, September 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership 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.

Institutional Ownership by Quarter for CONSOL Energy (NYSE:CNX)

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