CONSOL Energy (CNX) is Reiterated by FBR & Co. to Outperform, Raises Price Target to $ 22

CONSOL Energy (CNX) was Reiterated by FBR & Co. to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $21 . FBR & Co. advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on CONSOL Energy. CONSOL Energy was Upgraded by BofA/Merrill to ” Neutral” on Aug 15, 2016. Company shares were Reiterated by Scotia Howard Weil on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .Company shares were Downgraded by KLR Group on Jul 18, 2016 to ” Accumulate”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .

On the company’s financial health, CONSOL Energy reported $-0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $-0.19. The company had revenue of $285.80 million for the quarter, compared to analysts expectations of $565.66 million. The company’s revenue was down -47.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.37 EPS.

CONSOL Energy closed down -0.57 points or -2.81% at $19.69 with 51,88,125 shares getting traded on Tuesday. Post opening the session at $20.18, the shares hit an intraday low of $19.605 and an intraday high of $20.26 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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