Today’s Price Action: Could CONSOL Energy Inc. Change Direction After Reaching 52-Week High?

Today's Price Action: Could CONSOL Energy Inc. Change Direction After Reaching 52 Week High?

The stock of CONSOL Energy Inc. (NYSE:CNX) hit a new 52-week high and has $21.53 target or 3.00% above today’s $20.90 share price. The 8 months bullish chart indicates low risk for the $4.92B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $21.53 price target is reached, the company will be worth $147.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 358,635 shares traded hands. CONSOL Energy Inc. (NYSE:CNX) has risen 29.00% since April 27, 2016 and is uptrending. It has outperformed by 23.77% the S&P500.

Analysts await CONSOL Energy Inc. (NYSE:CNX) to report earnings on February, 3. They expect $-0.06 earnings per share, up 45.45% or $0.05 from last year’s $-0.11 per share. After $-0.15 actual earnings per share reported by CONSOL Energy Inc. for the previous quarter, Wall Street now forecasts -60.00% EPS growth.

CONSOL Energy Inc. (NYSE:CNX) Ratings Coverage

Out of 14 analysts covering Consol Energy Inc. (NYSE:CNX), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. $35 is the highest target while $6 is the lowest. The $14.65 average target is -29.90% below today’s ($20.9) stock price. Consol Energy Inc. has been the topic of 39 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Friday, November 11 by KLR Group. The firm earned “Buy” rating on Wednesday, January 20 by Stifel Nicolaus. The firm has “Outperform” rating by FBR Capital given on Thursday, October 13. The firm has “Outperform” rating by FBR Capital given on Friday, February 26. The firm has “Neutral” rating given on Wednesday, October 28 by Macquarie Research. The firm has “Equal-Weight” rating by Barclays Capital given on Monday, October 5. Deutsche Bank downgraded it to “Sell” rating and $14 target price in Tuesday, August 4 report. Barclays Capital maintained CONSOL Energy Inc. (NYSE:CNX) on Wednesday, July 13 with “Equalweight” rating. Morgan Stanley downgraded CONSOL Energy Inc. (NYSE:CNX) on Friday, January 22 to “Equal-Weight” rating. As per Friday, August 14, the company rating was maintained by Cowen & Co.

According to Zacks Investment Research, “CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States, and the largest exporter of U.S. coal.”

Insitutional Activity: The institutional sentiment decreased to 0.81 in 2016 Q2. Its down 0.17, from 0.98 in 2016Q1. The ratio fall, as 29 funds sold all CONSOL Energy Inc. shares owned while 93 reduced positions. 47 funds bought stakes while 73 increased positions. They now own 231.48 million shares or 7.10% less from 249.17 million shares in 2016Q1.
Quaker Capital Invs Ltd Co holds 17.92% or 2.70 million shares in its portfolio. Teachers Advsrs reported 219,404 shares or 0.01% of all its holdings. Moreover, Paloma Partners Management has 0.01% invested in CONSOL Energy Inc. (NYSE:CNX) for 49,256 shares. Bancshares Of America De holds 0% of its portfolio in CONSOL Energy Inc. (NYSE:CNX) for 494,079 shares. The California-based Rbf Ltd Liability Corporation has invested 0.24% in CONSOL Energy Inc. (NYSE:CNX). Indexiq Limited reported 43,318 shares or 0.04% of all its holdings. Tower Ltd Liability Corp (Trc) last reported 0% of its portfolio in the stock. Vanguard Group Inc holds 0.02% of its portfolio in CONSOL Energy Inc. (NYSE:CNX) for 15.01M shares. Clearbridge Invests Ltd Limited Liability Company reported 3.01 million shares or 0.06% of all its holdings. Cornerstone Capital Limited Liability Com, a New York-based fund reported 17,243 shares. Moreover, Amp Capital Invsts Limited has 0% invested in CONSOL Energy Inc. (NYSE:CNX) for 17,395 shares. M&T Comml Bank owns 14,490 shares or 0% of their US portfolio. Parametric Assoc Limited Liability Company, a Washington-based fund reported 737,143 shares. Dynamic Capital Mgmt Ltd, a United Kingdom-based fund reported 89,397 shares. Cetera Advisor Net Ltd Liability has invested 0.02% of its portfolio in CONSOL Energy Inc. (NYSE:CNX).

CNX Company Profile

CONSOL Energy Inc. (CONSOL Energy), incorporated on October 31, 199, is an integrated energy firm that operates through two divisions: gas and oil exploration and production (E&P) and coal mining. The principal activity of the E&P division is to produce pipeline quality natural gas for sale primarily to natural gas wholesalers. The E&P division’s divisions are Marcellus, Utica, Coalbed Methane, and Other Gas. The Other Gas segment is primarily related to shallow gas and oil production, as well as Upper Devonian Shale, and includes the Company’s purchased gas activities and general and administrative activities, as well as various other activities assigned to the E&P division but not allocated to each individual well type. The principal activities of the Coal division are mining, preparation and marketing of thermal coal, sold primarily to power generators, and metallurgical coal, sold to metal and coke producers. The Coal division’s divisions are Pennsylvania (PA) Operations, Virginia (VA) Operations, and Other Coal. The Company’s E&P division focuses on Appalachian area natural gas and liquids activities, including production, gathering, processing and acquisition of natural gas properties in the Appalachian Basin. The Company’s Coal division focuses on the extraction and preparation of coal in the Appalachian Basin. The Firm also holds over two joint ventures, one with Noble Energy, Inc. (Noble) in the Marcellus Shale and one with a subsidiary of Hess Corporation (Hess) in the Utica Shale.

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