An issue of Consol Energy Inc. (NYSE:CNX) debt fell 1.3% as a percentage of its face value during trading on Tuesday. The high-yield debt issue has a 8% coupon and is set to mature on April 1, 2023. The debt is now trading at $102.25 and was trading at $103.50 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
Several research analysts recently issued reports on CNX shares. Jefferies Group increased their price objective on Consol Energy from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, December 14th. They noted that the move was a valuation call. Zacks Investment Research raised Consol Energy from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday, October 3rd. KLR Group raised Consol Energy from an “accumulate” rating to a “buy” rating in a research note on Wednesday, December 7th. Finally, FBR & Co reissued a “buy” rating on shares of Consol Energy in a research note on Thursday, November 3rd. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.94.
Consol Energy Inc. (NYSE:CNX) opened at 18.36 on Thursday. Consol Energy Inc. has a 52 week low of $4.54 and a 52 week high of $22.34. The company has a 50-day moving average price of $19.43 and a 200-day moving average price of $18.34. The stock’s market cap is $4.21 billion.
Consol Energy (NYSE:CNX) last posted its quarterly earnings results on Tuesday, November 1st. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.28. The business earned $745.60 million during the quarter, compared to analyst estimates of $915.18 million. Consol Energy had a negative return on equity of 2.79% and a negative net margin of 21.75%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.28) EPS. Equities research analysts anticipate that Consol Energy Inc. will post ($0.44) EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. acquired a new position in Consol Energy during the second quarter valued at approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Consol Energy by 11.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,003 shares of the company’s stock valued at $134,000 after buying an additional 718 shares during the period. Riverhead Capital Management LLC increased its position in Consol Energy by 63.0% in the third quarter. Riverhead Capital Management LLC now owns 7,100 shares of the company’s stock valued at $136,000 after buying an additional 2,744 shares during the period. Creative Planning increased its position in Consol Energy by 48.4% in the third quarter. Creative Planning now owns 7,215 shares of the company’s stock valued at $139,000 after buying an additional 2,354 shares during the period. Finally, Bank of Montreal Can increased its position in Consol Energy by 13.9% in the third quarter. Bank of Montreal Can now owns 7,694 shares of the company’s stock valued at $148,000 after buying an additional 937 shares during the period.
About Consol Energy
CONSOL Energy Inc (CONSOL Energy) is an integrated energy company that operates through two divisions: oil and gas exploration and production (E&P) and coal mining. The principal activity of the E&P division is to produce pipeline quality natural gas for sale primarily to natural gas wholesalers. The E&P division’s segments are Marcellus, Utica, Coalbed Methane, and Other Gas.