CONSOL Energy Inc. (NYSE:CNX) – SunTrust Banks cut their Q4 2017 earnings per share (EPS) estimates for CONSOL Energy in a report issued on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas producer will post earnings per share of $0.10 for the quarter, down from their prior estimate of $0.11. SunTrust Banks has a “Hold” rating and a $17.00 price target on the stock. SunTrust Banks also issued estimates for CONSOL Energy’s FY2018 earnings at $1.13 EPS.
CONSOL Energy (NYSE:CNX) last released its quarterly earnings data on Tuesday, October 31st. The oil and gas producer reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.14). CONSOL Energy had a negative net margin of 7.49% and a positive return on equity of 1.09%. The business had revenue of $671.30 million during the quarter, compared to analyst estimates of $623.00 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was down 10.0% on a year-over-year basis.
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Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 target price on shares of CONSOL Energy in a research note on Friday, July 14th. Zacks Investment Research cut shares of CONSOL Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 target price on shares of CONSOL Energy in a research note on Tuesday, October 10th. Scotiabank set a $22.00 target price on shares of CONSOL Energy and gave the company a “hold” rating in a research note on Tuesday, August 22nd. Finally, Susquehanna Bancshares Inc upped their target price on shares of CONSOL Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $20.97.
Shares of CONSOL Energy (CNX) opened at $16.27 on Thursday. The company has a market cap of $3.80 billion, a PE ratio of 86.84 and a beta of 1.54. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62.
CONSOL Energy announced that its Board of Directors has authorized a stock repurchase 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 buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
A number of hedge funds have recently made changes to their positions in CNX. Prudential Financial Inc. lifted its stake in CONSOL Energy by 184.5% in the third quarter. Prudential Financial Inc. now owns 2,943,572 shares of the oil and gas producer’s stock valued at $49,864,000 after acquiring an additional 1,909,019 shares during the last quarter. Key Group Holdings Cayman LTD. lifted its stake in CONSOL Energy by 3,182.6% in the second quarter. Key Group Holdings Cayman LTD. now owns 1,721,238 shares of the oil and gas producer’s stock valued at $25,715,000 after acquiring an additional 1,668,802 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in CONSOL Energy by 117.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 2,806,977 shares of the oil and gas producer’s stock valued at $41,936,000 after acquiring an additional 1,516,289 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in CONSOL Energy by 742.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,552,569 shares of the oil and gas producer’s stock valued at $23,195,000 after acquiring an additional 1,368,200 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in CONSOL Energy by 12,407.3% in the second quarter. Bank of Montreal Can now owns 1,018,348 shares of the oil and gas producer’s stock valued at $15,213,000 after acquiring an additional 1,010,206 shares during the last quarter. Hedge funds and other institutional investors own 99.84% of the company’s stock.
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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