Guru Mason Hawkins (Trades, Portfolio) boosted his stake in Consol Energy Inc. (CNX, Financial) by nearly 15% with the purchase of 6,827,800 shares on Jan. 4.
Hawkins now owns 52,835,737 shares of Consol Energy. It is the largest holding in his portfolio.
Consol Energy originally began its operations in 1864 – when Abraham Lincoln was the president of the U.S. The company has persevered throughout the course of its existence, going through the Great Depression and two world wars. Consol Energy was incorporated in Delaware in 1991 and operates in two divisions, oil and gas exploration and production (E&P) and coal mining.
Consol Energy currently controls approximately 436,000 net acres in the Marcellus Shale and approximately 622,000 net acres that have Utica Shale potential in Ohio. Consol Energy also owns approximately 2.3 million net acres in coalbed methane play.
Consol Energy has a market cap of $2.47 billion, an enterprise value of $6.26 billion, a P/B ratio of 0.53 and a dividend yield of 0.86.
Hawkins may have decided to increase his stake in Consol Energy because the company increased its total average production over the previous fiscal year, according to the company's most recent 10-K filing. Consol Energy produced 900,430 Mcfe per day, an increase of 39% over 2014’s results. The company also produced 29.3 million tons of coal in 2015, which shows that the company is efficient in the coal mining division of its company.
Consol Energy is also traded in Germany.
Hawkins graduated from the University of Florida with a degree in finance and went on to the University of Georgia in 1971 where he received his M.B.A in finance. Hawkins has very similar investment philosophies to Warren Buffett (Trades, Portfolio), Benjamin Graham and Philip A. Fisher. Hawkins looks for businesses with good management and good people and sell for deep discounts significantly less than their intrinsic value to provide an adequate margin of safety.
Cheers to your investment success.
