Greenlight Capital Inc Lowers stake in CONSOL Energy (CNX)

CONSOL Energy (CNX) : Greenlight Capital Inc reduced its stake in CONSOL Energy by 18.76% during the most recent quarter end. The investment management company now holds a total of 17,872,616 shares of CONSOL Energy which is valued at $329,392,313 after selling 4,127,384 shares in CONSOL Energy , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.CONSOL Energy makes up approximately 6.09% of Greenlight Capital Inc’s portfolio.

Other Hedge Funds, Including , Van Eck Associates Corp reduced its stake in CNX by selling 175,893 shares or 2.72% in the most recent quarter. The Hedge Fund company now holds 6,284,455 shares of CNX which is valued at $115,822,506. CONSOL Energy makes up approx 0.62% of Van Eck Associates Corp’s portfolio.Profund Advisors reduced its stake in CNX by selling 26,548 shares or 40.16% in the most recent quarter. The Hedge Fund company now holds 39,552 shares of CNX which is valued at $697,302. CONSOL Energy makes up approx 0.03% of Profund Advisors’s portfolio.Liberty Mutual Group Asset Management reduced its stake in CNX by selling 19,182 shares or 19.23% in the most recent quarter. The Hedge Fund company now holds 80,569 shares of CNX which is valued at $1,420,431. CONSOL Energy makes up approx 0.05% of Liberty Mutual Group Asset Management’s portfolio.Tiaa Cref Investment Management reduced its stake in CNX by selling 311,743 shares or 27.6% in the most recent quarter. The Hedge Fund company now holds 817,722 shares of CNX which is valued at $14,007,578. CONSOL Energy makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio.

CONSOL Energy opened for trading at $18.22 and hit $18.56 on the upside on Monday, eventually ending the session at $18.44, with a gain of 1.93% or 0.35 points. The heightened volatility saw the trading volume jump to 41,12,815 shares. Company has a market cap of $4,231 M.

On the company’s financial health, CONSOL Energy reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.13. The company had revenue of $745.58 million for the quarter, compared to analysts expectations of $566.46 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Many Wall Street Analysts have commented on CONSOL Energy. CONSOL Energy was Upgraded by Morgan Stanley to ” Overweight” on Nov 21, 2016. CONSOL Energy was Upgraded by KLR Group to ” Buy” on Nov 11, 2016. Company shares were Reiterated by FBR & Co. on Oct 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 22 from a previous price target of $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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