CONSOL Energy Inc. (CNX) Shares Approach 52-Week Lows On Oil Glut


CONSOL Energy Inc. (NYSE:CNX) shares are down substantially in afternoon trading as oil prices continue to drop. The entire energy sector seems to be experiencing a major rut as an oil glut has caused prices to decline considerably over the last week, without any signs that OPEC will be helping to reduce supply. CONSOL Energy Inc. (NYSE:CNX) shares are currently pennies away from new 52-week lows as investors run for the exits.

While opinions vary on when prices of oil will rebound, many analysts expect supply to outstrip demand for quite some time still.The stock is down 14.77% or $1.14 following the news, hitting $6.58 per share. About 12.89 million shares traded hands or 15.30% up from the average. CNX has declined 76.75% since May 4, 2015 and is downtrending. It has underperformed the S&P500 by 75.68%.

From a total of 12 analysts covering Consol Energy Inc. (NYSE:CNX) stock, 5 rate it a “Buy”, 2 a “Sell”, and 5 a “Hold”. This means that 42% of the ratings are positive. The highest target price is $35 while the lowest target price is $6. The mean of all analyst targets is $15 which is 127.96% above today’s ($6.58) stock price. Consol Energy Inc. was the topic of 21 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank downgraded shares on November 3 to a “Sell” rating. Macquarie Research maintained CNX stock in a recent report from October 28 with a “Neutral” rating. Finally, Cowen & Co maintained the stock with a “Outperform” rating in a report they issued on an August 14.

The institutional sentiment increased to 1.04 in Q2 2015. It’s up 0.33, from 0.71 in 2015Q1. The ratio is positive, as 40 funds sold all their CONSOL Energy Inc. shares they owned while 97 reduced their positions. 40 funds bought stakes while 103 increased their total positions. Institutions now own 259.61 million shares which is 5.74% more than the previous share count of 245.51 million in 2015Q1.

Southeastern Asset Management Inc Tn holds 6.51% of its total portfolio in CONSOL Energy Inc., equating to 44.75 million shares. Greenlight Capital Inc owns 22.84 million shares representing 6.23% of their total US portfolio. Moreover, Rr Partners Lp has 3.26% of their total portfolio invested in the company, equating to 4.05 million shares. The Massachusetts-based Grt Capital Partners L.L.C. has a total of 2.74% of their portfolio invested in the stock. Sasco Capital Inc Ct, a Connecticut-based fund reported 4.38 million shares owned.

Since April 29, 2015, the stock had 1 buying transaction, and 0 sales for a total of $188 in net activity. Carpenter Alvin R bought 6 shares worth $188. Ritter Lorraine L. sold 5,902 shares worth $208,072. Brock James A sold 1,104 shares worth $33,076.

CONSOL Energy Inc. is an integrated energy company. The company has a market cap of $1.74 billion. The Firm operates through two divisions: gas and oil exploration and production , and coal mining. It currently has negative earnings. 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).