CONSOL Energy (CNX) Releases Earnings Results, Beats Expectations By $0.02 EPS

CONSOL Energy (CNX) reported quarterly earnings results on Tuesday, Apr-26-2016. The company said it had a profit of $-0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.09. The company posted revenue of $558.50 million in the period, compared to analysts expectations of $693.32 million. The company’s revenue was down -29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on CONSOL Energy. KLR Group Initiated CONSOL Energy on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $17.FBR Capital Resumed CONSOL Energy on Feb 26, 2016 to “Outperform”, Price Target of the shares are set at $21.Company shares were Reiterated by Barclays on Feb 9, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 9 from a previous price target of $8 .

CONSOL Energy opened for trading at $13.31 and hit $14.18 on the upside on Friday, eventually ending the session at $13.56, with a gain of 3.83% or 0.5 points. The heightened volatility saw the trading volume jump to 75,72,855 shares. Company has a market cap of $3,106 M.

In a different news, on Jan 19, 2016, William N Jr Thorndike (director) purchased 50,000 shares at $16.88 per share price. According to the SEC, on Nov 4, 2015, Carl Kristopher Hagedorn (Controller) purchased 3,480 shares at $7.02 per share price. On Oct 30, 2015, Alvin R Carpenter (director) purchased 10,000 shares at $7.04 per share price, according to the Form-4 filing with the securities and exchange commission.

CONSOL Energy Inc. is an integrated energy company. The Company operates through two divisions: oil and gas exploration and production (E&P) and coal mining. The E&P division is focused on natural gas and liquids activities including production gathering processing and acquisition of natural gas properties in the Appalachian Basin (Pennsylvania West Virginia Ohio Virginia and Tennessee). The coal division is focused on the extraction and preparation of coal in the Appalachian Basin. It holds two joint ventures one with Noble Energy Inc. in the Marcellus Shale and one with a subsidiary of Hess Corporation in the Utica Shale. Its gas operations include Marcellus Shale Utica Shale Coalbed Methane and Other Gas properties. Its coal mining division includes Pennsylvania (PA) operations coal segment Virginia (VA) operations coal segment and other coal segment. As of December 31 2014 the Company has a total production of 645792 million cubic feet per day (Mcfe per day).


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