CONSOL Energy (CNX) Rating Increased to Buy at SunTrust Banks
CONSOL Energy (NYSE:CNX) was upgraded by analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a report issued on Thursday.
A number of other brokerages have also issued reports on CNX. Zacks Investment Research upgraded shares of CONSOL Energy from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. BidaskClub lowered shares of CONSOL Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. B. Riley initiated coverage on shares of CONSOL Energy in a research report on Tuesday, November 21st. They set a “buy” rating and a $32.00 target price on the stock. Susquehanna Bancshares upped 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 initiated coverage on shares of CONSOL Energy in a research report on Thursday, November 30th. They set a “buy” rating and a $32.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CONSOL Energy has an average rating of “Hold” and an average target price of $23.21.
CONSOL Energy (NYSE CNX) traded down $0.04 during trading hours on Thursday, reaching $14.54. 3,258,917 shares of the company’s stock were exchanged, compared to its average volume of 3,950,486. The firm has a market capitalization of $3,287.02, a price-to-earnings ratio of 77.11 and a beta of 1.53. CONSOL Energy has a 52-week low of $11.29 and a 52-week high of $18.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 0.94.
CONSOL Energy (NYSE:CNX) last released its quarterly earnings results on Tuesday, October 31st. The oil and gas producer reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.14). The firm had revenue of $671.30 million during the quarter, compared to analyst estimates of $623.00 million. CONSOL Energy had a negative net margin of 7.49% and a positive return on equity of 1.09%. CONSOL Energy’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. analysts expect that CONSOL Energy will post 0.25 earnings per share for the current fiscal year.
CONSOL Energy announced that its board has authorized a share buyback program on Tuesday, September 5th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the oil and gas producer to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capstone Asset Management Co. raised its stake in shares of CONSOL Energy by 1.7% during the second quarter. Capstone Asset Management Co. now owns 17,473 shares of the oil and gas producer’s stock worth $261,000 after buying an additional 300 shares during the last quarter. Utah Retirement Systems raised its stake in shares of CONSOL Energy by 0.7% during the second quarter. Utah Retirement Systems now owns 41,671 shares of the oil and gas producer’s stock worth $623,000 after buying an additional 300 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of CONSOL Energy by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 14,921 shares of the oil and gas producer’s stock worth $223,000 after buying an additional 577 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CONSOL Energy by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the oil and gas producer’s stock valued at $114,000 after purchasing an additional 631 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in CONSOL Energy by 3.0% in the second quarter. Suntrust Banks Inc. now owns 28,310 shares of the oil and gas producer’s stock valued at $422,000 after purchasing an additional 831 shares in the last quarter. 96.84% of the stock is owned by institutional investors and hedge funds.
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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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