Seven Eight Capital LP purchased a new stake in CONSOL Energy Inc. (NYSE:CNX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 44,100 shares of the oil and gas producer’s stock, valued at approximately $659,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC boosted its stake in CONSOL Energy by 62.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 127,505 shares of the oil and gas producer’s stock valued at $1,905,000 after purchasing an additional 49,030 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in 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 period. Ardevora Asset Management LLP boosted its stake in CONSOL Energy by 44.0% in the 2nd quarter. Ardevora Asset Management LLP now owns 1,552,600 shares of the oil and gas producer’s stock valued at $23,196,000 after purchasing an additional 474,100 shares during the period. Marshall Wace North America L.P. boosted its stake in CONSOL Energy by 170.5% in the 2nd quarter. Marshall Wace North America L.P. now owns 601,636 shares of the oil and gas producer’s stock valued at $9,025,000 after purchasing an additional 379,243 shares during the period. Finally, Credit Agricole S A boosted its stake in CONSOL Energy by 78.9% in the 1st quarter. Credit Agricole S A now owns 40,446 shares of the oil and gas producer’s stock valued at $679,000 after purchasing an additional 17,844 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.
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Several analysts recently issued reports on CNX shares. Barclays PLC restated a “hold” rating on shares of CONSOL Energy in a research note on Wednesday, May 24th. ValuEngine downgraded CONSOL Energy from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. BidaskClub upgraded CONSOL Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Scotiabank set a $21.00 price target on CONSOL Energy and gave the company a “hold” rating in a research note on Saturday, July 1st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $26.00 price target on shares of CONSOL Energy in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.74.
In other news, Director J. Palmer Clarkson bought 10,000 shares of CONSOL Energy stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $15.40 per share, for a total transaction of $154,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by corporate insiders.
CONSOL Energy Inc. (CNX) opened at 15.68 on Friday. The firm has a 50-day moving average price of $14.91 and a 200-day moving average price of $15.40. CONSOL Energy Inc. has a one year low of $13.55 and a one year high of $22.34. The firm’s market cap is $3.61 billion.
CONSOL Energy (NYSE:CNX) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. CONSOL Energy had a positive return on equity of 1.09% and a negative net margin of 5.42%. The company had revenue of $865.95 million for the quarter, compared to the consensus estimate of $678.79 million. During the same quarter in the previous year, the business earned ($0.21) EPS. CONSOL Energy’s revenue was up 202.8% compared to the same quarter last year. On average, equities analysts expect that CONSOL Energy Inc. will post $0.53 EPS for the current fiscal year.
CONSOL Energy declared that its board has initiated a stock repurchase plan on Tuesday, September 5th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
CONSOL Energy 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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