Quaker Capital Investments buys $38.7 Million stake in CONSOL Energy (CNX)

CONSOL Energy (CNX) : Quaker Capital Investments scooped up 1,648,058 additional shares in CONSOL Energy during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,701,387 shares of CONSOL Energy which is valued at $38.7 Million.CONSOL Energy makes up approximately 16.27% of Quaker Capital Investments’s portfolio.

Other Hedge Funds, Including , Hsbc Holdings Plc reduced its stake in CNX by selling 72,191 shares or 51.1% in the most recent quarter. The Hedge Fund company now holds 69,084 shares of CNX which is valued at $989,283.Oppenheimerfunds reduced its stake in CNX by selling 7,610 shares or 20.13% in the most recent quarter. The Hedge Fund company now holds 30,197 shares of CNX which is valued at $432,421.Advantus Capital Management Inc boosted its stake in CNX in the latest quarter, The investment management firm added 9,077 additional shares and now holds a total of 30,878 shares of CONSOL Energy which is valued at $442,173. CONSOL Energy makes up approx 0.01% of Advantus Capital Management Inc’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in CNX by selling 4,930 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 315,769 shares of CNX which is valued at $4.7 Million. CONSOL Energy makes up approx 0.02% of State Board Of Administration Of Florida Retirement System’s portfolio.Rhumbline Advisers boosted its stake in CNX in the latest quarter, The investment management firm added 30,310 additional shares and now holds a total of 334,098 shares of CONSOL Energy which is valued at $5 Million. CONSOL Energy makes up approx 0.02% of Rhumbline Advisers’s portfolio.

CONSOL Energy opened for trading at $14.07 and hit $14.87 on the upside on Wednesday, eventually ending the session at $14.83, with a gain of 6.00% or 0.84 points. The heightened volatility saw the trading volume jump to 51,30,748 shares. Company has a market cap of $3,401 M.

On the company’s financial health, CONSOL Energy reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $-0.09. The company had revenue of $558.50 million for the quarter, 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.

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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