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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.11
CNX's Cash-to-Debt is ranked lower than
89% of the 458 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.64 vs. CNX: 0.11 )
Ranked among companies with meaningful Cash-to-Debt only.
CNX' s Cash-to-Debt Range Over the Past 10 Years
Min: 0  Med: 0.04 Max: N/A
Current: 0.11
Equity-to-Asset 0.44
CNX's Equity-to-Asset is ranked lower than
62% of the 413 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.53 vs. CNX: 0.44 )
Ranked among companies with meaningful Equity-to-Asset only.
CNX' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.02  Med: 0.22 Max: 0.46
Current: 0.44
-0.02
0.46
Interest Coverage 1.92
CNX's Interest Coverage is ranked lower than
99.99% of the 234 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 22.27 vs. CNX: 1.92 )
Ranked among companies with meaningful Interest Coverage only.
CNX' s Interest Coverage Range Over the Past 10 Years
Min: 1.23  Med: 3.28 Max: 26.09
Current: 1.92
1.23
26.09
Piotroski F-Score: 6
Altman Z-Score: 1.06
Beneish M-Score: -2.61
WACC vs ROIC
7.61%
1.04%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % 12.58
CNX's Operating Margin % is ranked higher than
58% of the 424 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -21.78 vs. CNX: 12.58 )
Ranked among companies with meaningful Operating Margin % only.
CNX' s Operating Margin % Range Over the Past 10 Years
Min: -16.51  Med: 14.21 Max: 25.62
Current: 12.58
-16.51
25.62
Net Margin % -5.42
CNX's Net Margin % is ranked lower than
55% of the 422 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -26.96 vs. CNX: -5.42 )
Ranked among companies with meaningful Net Margin % only.
CNX' s Net Margin % Range Over the Past 10 Years
Min: -41.85  Med: 8.69 Max: 20.02
Current: -5.42
-41.85
20.02
ROE % -3.80
CNX's ROE % is ranked lower than
63% of the 413 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -8.01 vs. CNX: -3.80 )
Ranked among companies with meaningful ROE % only.
CNX' s ROE % Range Over the Past 10 Years
Min: -19.95  Med: 14.7 Max: 33.24
Current: -3.8
-19.95
33.24
ROA % -1.61
CNX's ROA % is ranked lower than
54% of the 498 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -6.75 vs. CNX: -1.61 )
Ranked among companies with meaningful ROA % only.
CNX' s ROA % Range Over the Past 10 Years
Min: -8.43  Med: 4 Max: 7.13
Current: -1.61
-8.43
7.13
ROC (Joel Greenblatt) % 2.58
CNX's ROC (Joel Greenblatt) % is ranked higher than
58% of the 470 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -7.27 vs. CNX: 2.58 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
CNX' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -3.75  Med: 7.3 Max: 14.2
Current: 2.58
-3.75
14.2
3-Year Revenue Growth Rate -14.90
CNX's 3-Year Revenue Growth Rate is ranked higher than
66% of the 364 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -21.40 vs. CNX: -14.90 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
CNX' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -15.9  Med: 5.8 Max: 17.2
Current: -14.9
-15.9
17.2
3-Year EBITDA Growth Rate -29.70
CNX's 3-Year EBITDA Growth Rate is ranked lower than
62% of the 305 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -21.10 vs. CNX: -29.70 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
CNX' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -34.9  Med: 2.7 Max: 45.6
Current: -29.7
-34.9
45.6
GuruFocus has detected 1 Warning Sign with Consol Energy Inc $CNX.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» CNX's 30-Y Financials

Financials (Next Earnings Date: 2017-11-01 Est.)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q3 2016

CNX Guru Trades in Q3 2016

Jim Simons 883,900 sh (New)
Steven Cohen 2,796,931 sh (+496.72%)
Paul Tudor Jones 150,232 sh (+405.85%)
Mason Hawkins 49,573,247 sh (+0.06%)
John Griffin 3,370,000 sh (unchged)
Leon Cooperman Sold Out
Mario Gabelli 617,450 sh (-3.67%)
David Einhorn 17,872,616 sh (-18.76%)
Joel Greenblatt 177,365 sh (-27.76%)
Arnold Schneider 1,558,212 sh (-28.59%)
» More
Q4 2016

CNX Guru Trades in Q4 2016

Joel Greenblatt 315,485 sh (+77.87%)
Mario Gabelli 684,250 sh (+10.82%)
Jim Simons Sold Out
John Griffin Sold Out
Mason Hawkins 44,881,112 sh (-9.47%)
Arnold Schneider 1,396,912 sh (-10.35%)
David Einhorn 15,403,173 sh (-13.82%)
Steven Cohen 2,059,700 sh (-26.36%)
Paul Tudor Jones 48,950 sh (-67.42%)
» More
Q1 2017

CNX Guru Trades in Q1 2017

George Soros 11,200 sh (New)
Ray Dalio 18,547 sh (New)
Jeremy Grantham 14,600 sh (New)
David Einhorn 22,663,081 sh (+47.13%)
Mason Hawkins 50,475,552 sh (+12.47%)
Mario Gabelli 697,350 sh (+1.91%)
Paul Tudor Jones Sold Out
Arnold Schneider 1,330,412 sh (-4.76%)
Joel Greenblatt 237,391 sh (-24.75%)
Steven Cohen 1,147,900 sh (-44.27%)
» More
Q2 2017

CNX Guru Trades in Q2 2017

Paul Tudor Jones 33,791 sh (New)
Ray Dalio 65,283 sh (+251.99%)
Mason Hawkins 50,917,034 sh (+0.87%)
Jeremy Grantham 14,600 sh (unchged)
David Einhorn 22,663,081 sh (unchged)
George Soros Sold Out
Mario Gabelli 694,150 sh (-0.46%)
Steven Cohen 875,600 sh (-23.72%)
Joel Greenblatt 135,176 sh (-43.06%)
Arnold Schneider 444,120 sh (-66.62%)
» More
» Details

Insider Trades

Latest Guru Trades with CNX

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Mason Hawkins 2017-06-30 Add 0.87%0.07%$13.61 - $17.27 $ 14.25-8%50,917,034
Mario Gabelli 2017-06-30 Reduce -0.46%$13.61 - $17.27 $ 14.25-8%694,150
Arnold Schneider 2017-06-30 Reduce -66.62%2.48%$13.61 - $17.27 $ 14.25-8%444,120
Joel Greenblatt 2017-06-30 Reduce -43.06%0.02%$13.61 - $17.27 $ 14.25-8%135,176
George Soros 2017-06-30 Sold Out 0.01%$13.61 - $17.27 $ 14.25-8%0
Mason Hawkins 2017-03-31 Add 12.47%0.95%$14.92 - $19.54 $ 14.25-16%50,475,552
David Einhorn 2017-03-31 Add 47.13%1.69%$14.92 - $19.54 $ 14.25-16%22,663,081
Arnold Schneider 2017-03-31 Reduce -4.76%0.21%$14.92 - $19.54 $ 14.25-16%1,330,412
Mario Gabelli 2017-03-31 Add 1.91%$14.92 - $19.54 $ 14.25-16%697,350
Joel Greenblatt 2017-03-31 Reduce -24.75%0.02%$14.92 - $19.54 $ 14.25-16%237,391
George Soros 2017-03-31 New Buy0.01%$14.92 - $19.54 $ 14.25-16%11,200
Mason Hawkins 2017-02-22 Add 11.35%0.83%Premium Member Access $17.04 $ 14.25-16%49,973,415
Mason Hawkins 2016-12-31 Reduce -9.47%0.86%$16.38 - $22.05 $ 14.25-25%44,881,112
David Einhorn 2016-12-31 Reduce -13.82%0.86%Premium Member Access $18.23 $ 14.25-22%15,403,173
David Einhorn 2016-12-31 Reduce -13.82%0.91%$16.38 - $22.05 $ 14.25-25%15,403,173
Arnold Schneider 2016-12-31 Reduce -10.35%0.5%$16.38 - $22.05 $ 14.25-25%1,396,912
Mario Gabelli 2016-12-31 Add 10.82%0.01%$16.38 - $22.05 $ 14.25-25%684,250
Joel Greenblatt 2016-12-31 Add 77.87%0.03%$16.38 - $22.05 $ 14.25-25%315,485
Mason Hawkins 2016-12-01 Reduce -5.84%0.56%Premium Member Access $20.2 $ 14.25-29%46,676,914
Mason Hawkins 2016-09-30 Add 0.06%0.01%$15.82 - $19.38 $ 14.25-20%49,573,247
David Einhorn 2016-09-30 Reduce -18.76%1.22%$15.82 - $19.38 $ 14.25-20%17,872,616
Arnold Schneider 2016-09-30 Reduce -28.59%1.88%$15.82 - $19.38 $ 14.25-20%1,558,212
Mario Gabelli 2016-09-30 Reduce -3.67%$15.82 - $19.38 $ 14.25-20%617,450
Joel Greenblatt 2016-09-30 Reduce -27.76%0.01%$15.82 - $19.38 $ 14.25-20%177,365
Leon Cooperman 2016-09-30 Sold Out 0.07%$15.82 - $19.38 $ 14.25-20%0
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Business Description

Industry: Oil & Gas - E&P » Oil & Gas E&P    NAICS: 211111    SIC: 1311
Compare:NYSE:BSM, NYSE:CHK, OTCPK:LNGG, NYSE:LPI, NYSE:WPX, NYSE:RRC, NYSE:JAG, NYSE:SWN, NAS:PDCE, NYSE:KOS, NYSE:MUR, NYSE:MTDR, NAS:CDEV, NAS:GPOR, NYSE:EGN, NYSE:CPE, NAS:XOG, NAS:VNOM, NYSE:NFG, NYSE:OAS » details
Traded in other countries:CGD.Germany,
Headquarter Location:USA
Consol Energy Inc operates in the utilities sector. Its core business includes oil and natural gas exploration and production.

Consol Energy is a legacy coal producer transitioning to a natural gas exploration and production firm. The company produces natural gas across a wide swath of Appalachia, although growth is focused exclusively in the Marcellus and Utica shales. In 2015, Consol produced roughly 900 million cubic feet of natural gas per day. Coal production after recent asset sales is expected to be approximately 30 million tons per year.

Guru Investment Theses on Consol Energy Inc

Longleaf Partners Comments on CONSOL Energy - Jul 20, 2017

CONSOL Energy (NYSE:CNX) (-11%; -0.55%), the Appalachian natural gas and coal company, was a detractor in the quarter. The operating items within the company’s control – production, costs, and smaller asset sales – were generally positive.



However, weaker gas prices weighed on the stock and its peers. The uncertainty around the details of how the company’s announced plans to separate its gas and coal operations will play out likely also negatively impacted the stock. Two items highlighted the value in the company’s assets. First, CONSOL’s partner in the pipeline company Cone Midstream sold its interest at a price above where we carry CONSOL’s identical assets. This both demonstrates what this asset is worth and likely brings in a new partner that will be more willing to grow Cone’s value. Second, late in the quarter Rice Energy (an Appalachian gas company which is a good comparable for CONSOL’s assets) sold to EQT Corporation at a price that implied a significantly higher value for CONSOL’s gas operations than the current stock price. CEO Nick DeIuliis and Chairman Will Thorndike remain focused on delivering the unrecognized value within CONSOL, and 2017 likely will be a pivotal year for the company.



From Longleaf Partners Small Cap second quarter 2017 shareholder letter.



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Longleaf Partners Comments on CONSOL Energy - Jul 18, 2017

CONSOL Energy (NYSE:CNX) (-11%, -0.64%), the Appalachian natural gas and coal company, was a detractor in the quarter. The operating items within the company’s control – production, costs, and smaller asset sales – were generally positive.



However, weaker gas prices weighed on the stock and its peers. The uncertainty around the details of how the company’s announced plans to separate its gas and coal operations will play out likely also negatively impacted the stock. Two items highlighted the value in the company’s assets. First, CONSOL’s partner in the pipeline company Cone Midstream sold its interest at a price above where we carry CONSOL’s identical assets. This both demonstrates what this asset is worth and likely brings in a new partner that will be more willing to grow Cone’s value. Second, late in the quarter Rice Energy (an Appalachian gas company which is a good comparable for CONSOL’s assets) sold to EQT Corporation at a price that implied a significantly higher value for CONSOL’s gas operations than the current stock price. CEO Nick DeIuliis and Chairman Will Thorndike remain focused on delivering the unrecognized value within CONSOL, and 2017 likely will be a pivotal year for the company.



From Longleaf Partners Fund second quarter 2017 shareholder letter.



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Longleaf Partners Small-Cap Fund Comments on CONSOL Energy - Feb 22, 2017

CONSOL Energy (NYSE:CNX) (+131%; +3.55%), the natural gas and Appalachian coal company also contributed large gains over the year. CEO Nick Deluliis, management, and the board, led by Chairman Will Thorndike, monetized assets and continued to cut costs in the pursuit of separating the coal and gas businesses which is expected to happen in 2017. Following the disposition of its metallurgical coal assets in the first half of the year, CONSOL sold its high cost Miller Creek and Fola thermal coal mines to a private buyer at a price above our appraisal. The company also delivered positive free cash flow (FCF) for the year, which many thought very unlikely at the start of 2016. In the fourth quarter, CONSOL announced the unwinding of a joint venture with Noble Energy in which the company received $205 million in cash from Noble while maintaining ownership of valuable earnings before interest, taxes, depreciation, and amortization (EBITDA) producing properties. Recent transactions involving other companies’ gas assets in Appalachia, as well as CONSOL’s own midstream master limited partnerships’ (MLP) prices, support our appraisal of CONSOL which is much higher than the stock price.



From Longleaf Partners Small-Cap Fund fourth-quarter 2016 commentary.



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Longleaf Partners Comments on CONSOL Energy - Jan 24, 2017

CONSOL Energy (NYSE:CNX) (+131%; +3.96%), the natural gas and Appalachian coal company, also contributed large gains over the year. CEO Nick Deluliis, management, and the board, led by Chairman Will Thorndike, monetized assets and continued to cut costs in the pursuit of separating the coal and gas businesses which is expected to happen in 2017. Following the disposition of its metallurgical coal assets in the first half of the year, CONSOL sold its high cost Miller Creek and Fola thermal coal mines to a private buyer at a price above our appraisal. The company also delivered positive free cash flow (FCF) for the year, which many thought very unlikely at the start of 2016. In the fourth quarter, CONSOL announced the unwinding of a joint venture with Noble Energy in which the company received $205 million in cash from Noble while maintaining ownership of valuable EBITDA-producing properties. Recent transactions involving other companies’ gas assets in Appalachia, as well as CONSOL’s own midstream master limited partnerships’ (MLP) prices, support our appraisal of CONSOL, which is much higher than the stock price.



From Longleaf Partners' fourth quarter 2016 commentary.



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Southeastern Asset Management Comments on CONSOL Energy - Oct 14, 2016

CONSOL Energy (NYSE:CNX) (+19%; +1.1%), the natural gas and Appalachian coal company, added to the Fund’s return. CEO Nick Deluliis and the board, led by Chairman Will Thorndike, continued to pursue monetization of assets with the goal of ultimately separating the coal and gas businesses. Following the disposition of its metallurgical coal assets in the first half of the year, CONSOL sold its high-cost Miller Creek and Fola mines to a privately owned buyer who valued them higher than we did. The company also lowered costs across all segments and delivered positive free cash flow once again. Higher coal and gas prices drove strong returns at CONSOL’s holdings in coal master limited partnership (MLP) CNXC and midstream pipeline MLP CNNX. Sales of other companies’ exploration and production assets in Appalachia highlighted the value of CONSOL’s assets.



Southeastern Asset Management's Longleaf Partners third quarter 2016 commentary.



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Southeastern Asset Management Comments on CONSOL - Jul 14, 2016

Also a top contributor, CONSOL (NYSE:CNX) (+43%; +1.7%), the natural gas and Appalachian coal company, continued its positive momentum from the first quarter which saw the addition of new directors, the elevation of Will Thorndike to Chairman, and the sale of the metallurgical coal assets at a price accretive to our value. In 2Q, CONSOL reduced its coal and gas operating costs greater than expected, delivered free cash flow and guided for positive free cash flow, the remainder of the year. The company also had its borrowing base reaffirmed at $2 billion. Recent transactions confirmed the value of CONSOL’s high quality natural gas reserves and acreage. Our capablemanagement partners continue to focus the company on its core natural gas assets while pursuing the monetization of non-core assets, with the goal of separating its coal company from its exploration and production business.



From Longleaf Partners' second quarter 2016 fund commentary.



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Southeastern Asset Management Comments on CONSOL Energy - Apr 15, 2016

CONSOL Energy (NYSE:CNX) (+43%; +1.1%), the Appalachian natural gas and coal company that was our top detractor in 2015, added meaningfully to first quarter results. Management adjusted to lower commodity prices by adopting significant cost controls and expects positive free cash flow (FCF) in 2016. Early in the quarter, CONSOL announced it was lowering capex by more than 50% from previous guidance. The company also reduced operating expenses, effectively decreasing its Debt/OCF ratio from 3.8 to 3.6. As we continued our constructive dialogue with management regarding asset monetization, CONSOL announced the addition of three new board members, two of whom we suggested. Additionally, Will Thorndike, whom we previously recommended as a board member, replaced Brett Harvey as Chairman. Shortly thereafter, CONSOL sold its Buchanan mine and other met coal assets for $420 million to a private equity-backed firm. The sale was accretive to the value of CONSOL, and management is pursuing additional asset sales.



From Southeastern Asset Management's Q1 letter for Longleaf Partners Small-Cap Fund.



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Southeastern Asset Management Comments on CONSOL Energy - Apr 14, 2016

CONSOL Energy (NYSE:CNX) (+43%; +1.3%), the Appalachian coal and natural gas company that was among top detractors in 2015, added meaningfully to first quarter results. Management adjusted to lower commodity prices by adopting significant cost controls and expects positive free cash flow (FCF) in 2016. Early in the quarter, CONSOL announced it was lowering capex by more than 50% from previous guidance. The company also reduced operating expenses, effectively decreasing its Debt/ Operating Cash Flow ratio from 3.8 to 3.6. As we continued our constructive dialogue with management regarding asset monetization, CONSOL announced the addition of three new board members, two of whom we suggested. Additionally, Will Thorndike, whom we previously recommended as a board member, replaced Brett Harvey as Chairman. Shortly thereafter, CONSOL sold its Buchanan mine and other met coal assets for $420 million to a private equity-backed firm. The sale was accretive to the value of CONSOL, and management is pursuing additional asset sales.



From Southeastern Asset Management's Q1 2016 shareholder letter.



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Longleaf Partners Comments on CONSOL Energy - Jan 22, 2016

Also previously mentioned, CONSOL Energy (NYSE:CNX), the Appalachian coal and natural gas company, was down 76% in 2015 after falling 19% in the fourth quarter as the company missed operating cash flow (OCF) estimates amidst declining coal and gas prices. Management is adjusting to lower commodity prices and adopted significant cost controls under zero-based budgeting while still growing natural gas production. We filed a 13-D during the third quarter to discuss with third parties as well as management and the board a potential monetization or separation of the valuable Marcellus and Utica gas assets. This has been a constructive process since filing, and we appraise these assets at worth demonstrably more than CONSOL’s total equity capitalization. CONSOL’s exploration and production (E&P) business is unique, with low cost reserves given the company’s fee ownership of many acres. CONSOL announced in the fourth quarter that its thermal coal business, which enjoys a low cost position, had contracted for 93% of production for 2016 at a confirmed price of $50-55 per ton, providing near-term downside coal business risk mitigation. Multiple directors recently purchased shares.



From Longleaf Partners Fund 4th quarter commentary.



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David Einhorn Comments on CONSOL Energy - Nov 19, 2015

CONSOL Energy (NYSE:CNX) is an Appalachia-based coal and natural gas production company. From its most recent high of $33.34 on May 8, the shares traded down gradually to $9.80, where they ended the quarter. There was no single moment where the shares fell sharply; it was essentially an orderly collapse. Yes, coal and natural gas prices both fell modestly during the decline. Yes, the company’s effort to bring its coal assets public in a separate vehicle was greeted coolly by the market. Yes, there is an oversupply of natural gas in the region, which has caused local realizations and quarterly earnings to fall below plan. We could have mitigated a portion of our loss by hedging natural gas, but with the price already near a historical low, we made the incorrect decision not to hedge the commodity risk.

However, CONSOL Energy has had plenty of overlooked good news. The company went through a significant cost-cutting effort and cut its capital-spending budget aggressively. In July it reported fantastic drilling results and a significant success at a test well in the Utica Shale. Ordinarily, the market responds favorably to positive drilling news. In the current environment, it has responded more like a child receiving socks as a birthday present, “Gee, just what I always wanted … more, cheap natural gas.” We believe the market has undue concern about the near-term prospects for Appalachian coal and natural gas, leading it to discount the company’s long-term resource value far beyond anything we anticipated.

CONSOL Energy’s financials do not lend themselves to easy analysis. Right now, CONSOL Energyis transitioning from one of the country’s biggest coal producers into a natural gas company.CONSOL Energy’s financial statements combine both operations, which makes it challenging to properly analyze either of them. Gas analysts looking at CONSOL Energy could see a low-cost, growing natural gas business with enormous resources combined with a worthless legacy coal business. Coal analysts aren’t looking at CONSOL Energy – they’re looking for new jobs. Having dissected the financials, we see two businesses with significant upside.

Even at lower commodity prices, capital discipline, cost cutting and much more efficient drilling economics should enable CONSOL Energy to be cash flow breakeven or better from here on out, which is a significant improvement from our original expectations of about $1 billion of cash burn through 2017. In 2016 we expect CONSOL Energy to generate cash while growing its production and proved developed reserves. There are very few midsize energy companies achieving similar success. And yet, CONSOL Energy trades as if it is at the cusp of financial distress. Of course, we wish we were entering the position now rather than at the higher prices we paid.

From David Einhorn (Trades, Portfolio)'s third quarter 2015 Greenlight Capital commentary.

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Longleaf Partners Comments on CONSOL Energy - Oct 28, 2015

One of the noted energy holdings, CONSOL Energy (NYSE:CNX), the Fund’s largest performance detractor, fell 55% in the quarter after disappointing revenue and earnings on weaker-than-expected thermal coal production and negative natural gas differentials versus the New York Mercantile Exchange. Management is adjusting to lower commodity prices with cost controls and took steps to recognize the value of CONSOL’s coal assets by offering shares in the MLP CNX Coal, which generated $200 million in proceeds. We filed a 13-D during the quarter to discuss with third parties as well as management and the board a potential monetization or separation of the valuable Marcellus and Utica gas assets. We believe these assets alone are worth demonstrably more than CONSOL’s total equity capitalization. They are unique, low cost reserves given the company’s fee ownership of many acres. CONSOL is exploring monetization paths for all of its assets, including thermal coal, metallurgical coal, pipelines, and the Baltimore port terminal.



From Longleaf Partners' third quarter 2015 commentary.



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Southeastern Asset Management Comments on CONSOL Energy - Oct 22, 2015

CONSOL Energy (NYSE:CNX) fell 55% in the quarter after disappointing revenue and earnings on weaker-than-expected thermal coal production and negative natural gas differentials versus the New York Mercantile Exchange. Management is adjusting to lower commodity prices with cost controls and took steps to recognize the value of CONSOL’s coal assets by offering shares in the master limited partnership (MLP) CNX Coal, which generated $200 million in proceeds. We filed a 13-D during the quarter to discuss with third parties as well as management and the board a potential monetization or separation of the valuable Marcellus and Utica gas assets. We believe these assets alone are worth demonstrably more than CONSOL’s total equity capitalization. They are unique, low cost reserves given the company’s fee ownership of many acres. CONSOL is exploring monetization paths for all of its assets, including thermal coal, metallurgical coal, pipelines, and the Baltimore port terminal.

From Mason Hawkins (Trades, Portfolio)' Longleaf Partners third quarter 2015 shareholder commentary.

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Top Ranked Articles about Consol Energy Inc

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CNX Coal Resources Announces Distribution for Second Quarter of 2017
Longleaf Partners Comments on CONSOL Energy Guru stock highlight
CONSOL Energy (NYSE:CNX) (-11%; -0.55%), the Appalachian natural gas and coal company, was a detractor in the quarter. The operating items within the company’s control – production, costs, and smaller asset sales – were generally positive. Read more...
Longleaf Partners Comments on CONSOL Energy Guru stock highlight
CONSOL Energy (NYSE:CNX) (-11%, -0.64%), the Appalachian natural gas and coal company, was a detractor in the quarter. The operating items within the company’s control – production, costs, and smaller asset sales – were generally positive. Read more...
CONSOL Energy Announces Filing of Form 10 Registration Statement for Spin-Off of its Pennsylvania Mining Operations and Other Coal Assets; Second Quarter 2017 Earnings Release and Call Schedule
CNX Coal Resources Schedules Second Quarter 2017 Earnings Release and Conference Call
Mason Hawkins Buys Consol Energy, Viasat, Sonic Guru's largest 1st-quarter buys
Mason Hawkins (Trades, Portfolio) has been chairman and CEO of Southeastern Asset Management since 1975, and he and his partners manage the Longleaf Partners Funds. He manages a portfolio composed of 92 stocks with a total value of $9.839 billion. During the first quarter the guru bought shares in the following stocks: Read more...
CONSOL Energy Releases Annual Corporate Responsibility Report
CNX Coal Resources Announces Distribution for First Quarter of 2017
CONE Midstream Increases Quarterly Cash Distribution

Ratios

vs
industry
vs
history
PB Ratio 0.83
CNX's PB Ratio is ranked higher than
62% of the 417 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.23 vs. CNX: 0.83 )
Ranked among companies with meaningful PB Ratio only.
CNX' s PB Ratio Range Over the Past 10 Years
Min: 0.24  Med: 2.11 Max: 16.57
Current: 0.83
0.24
16.57
PS Ratio 1.19
CNX's PS Ratio is ranked higher than
70% of the 389 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.00 vs. CNX: 1.19 )
Ranked among companies with meaningful PS Ratio only.
CNX' s PS Ratio Range Over the Past 10 Years
Min: 0.42  Med: 1.92 Max: 5.29
Current: 1.19
0.42
5.29
Price-to-Free-Cash-Flow 21.43
CNX's Price-to-Free-Cash-Flow is ranked higher than
55% of the 127 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 13.83 vs. CNX: 21.43 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
CNX' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 12.33  Med: 57.2 Max: 1548.52
Current: 21.43
12.33
1548.52
Price-to-Operating-Cash-Flow 6.11
CNX's Price-to-Operating-Cash-Flow is ranked higher than
52% of the 266 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. CNX: 6.11 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
CNX' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 2.27  Med: 8.48 Max: 29.51
Current: 6.11
2.27
29.51
EV-to-EBIT 27.23
CNX's EV-to-EBIT is ranked lower than
99.99% of the 169 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 14.43 vs. CNX: 27.23 )
Ranked among companies with meaningful EV-to-EBIT only.
CNX' s EV-to-EBIT Range Over the Past 10 Years
Min: -23.2  Med: 16.1 Max: 100
Current: 27.23
-23.2
100
EV-to-EBITDA 7.33
CNX's EV-to-EBITDA is ranked lower than
83% of the 263 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 9999.00 vs. CNX: 7.33 )
Ranked among companies with meaningful EV-to-EBITDA only.
CNX' s EV-to-EBITDA Range Over the Past 10 Years
Min: -876.4  Med: 10.5 Max: 38.6
Current: 7.33
-876.4
38.6
Shiller PE Ratio 12.29
CNX's Shiller PE Ratio is ranked higher than
59% of the 81 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 16.32 vs. CNX: 12.29 )
Ranked among companies with meaningful Shiller PE Ratio only.
CNX' s Shiller PE Ratio Range Over the Past 10 Years
Min: 2.7  Med: 16.4 Max: 35.58
Current: 12.29
2.7
35.58
Current Ratio 1.03
CNX's Current Ratio is ranked lower than
71% of the 484 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.28 vs. CNX: 1.03 )
Ranked among companies with meaningful Current Ratio only.
CNX' s Current Ratio Range Over the Past 10 Years
Min: 0.39  Med: 0.74 Max: 1.85
Current: 1.03
0.39
1.85
Quick Ratio 0.94
CNX's Quick Ratio is ranked lower than
73% of the 483 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.19 vs. CNX: 0.94 )
Ranked among companies with meaningful Quick Ratio only.
CNX' s Quick Ratio Range Over the Past 10 Years
Min: 0.34  Med: 0.58 Max: 1.65
Current: 0.94
0.34
1.65
Days Inventory 17.63
CNX's Days Inventory is ranked higher than
65% of the 198 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 27.14 vs. CNX: 17.63 )
Ranked among companies with meaningful Days Inventory only.
CNX' s Days Inventory Range Over the Past 10 Years
Min: 18.23  Med: 28.5 Max: 38.39
Current: 17.63
18.23
38.39
Days Sales Outstanding 28.39
CNX's Days Sales Outstanding is ranked higher than
72% of the 376 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 51.71 vs. CNX: 28.39 )
Ranked among companies with meaningful Days Sales Outstanding only.
CNX' s Days Sales Outstanding Range Over the Past 10 Years
Min: 18.04  Med: 30.64 Max: 46.27
Current: 28.39
18.04
46.27
Days Payable 70.07
CNX's Days Payable is ranked lower than
58% of the 249 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 89.31 vs. CNX: 70.07 )
Ranked among companies with meaningful Days Payable only.
CNX' s Days Payable Range Over the Past 10 Years
Min: 33.41  Med: 71.33 Max: 135.65
Current: 70.07
33.41
135.65

Buy Back

vs
industry
vs
history
3-Year Dividend Growth Rate -70.10
CNX's 3-Year Dividend Growth Rate is ranked lower than
69% of the 94 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -38.90 vs. CNX: -70.10 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
CNX' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 0 Max: 16
Current: -70.1
0
16

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 0.83
CNX's Price-to-Tangible-Book is ranked higher than
64% of the 390 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.28 vs. CNX: 0.83 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
CNX' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.38  Med: 4.16 Max: 165.43
Current: 0.83
0.38
165.43
Price-to-Intrinsic-Value-Projected-FCF 57.00
CNX's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
97% of the 116 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.08 vs. CNX: 57.00 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
CNX' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 2.24  Med: 4.76 Max: 59.76
Current: 57
2.24
59.76
Price-to-Median-PS-Value 0.62
CNX's Price-to-Median-PS-Value is ranked higher than
58% of the 360 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.88 vs. CNX: 0.62 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
CNX' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.18  Med: 0.85 Max: 2.76
Current: 0.62
0.18
2.76
Earnings Yield (Greenblatt) % 3.67
CNX's Earnings Yield (Greenblatt) % is ranked lower than
55% of the 501 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -3.80 vs. CNX: 3.67 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
CNX' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -8.6  Med: 4.8 Max: 16.3
Current: 3.67
-8.6
16.3
Forward Rate of Return (Yacktman) % -22.96
CNX's Forward Rate of Return (Yacktman) % is ranked lower than
61% of the 176 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -16.04 vs. CNX: -22.96 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
CNX' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -76.5  Med: 6.7 Max: 42.9
Current: -22.96
-76.5
42.9

More Statistics

Revenue (TTM) (Mil) $2,772.26
EPS (TTM) $ -0.67
Beta1.30
Short Percentage of Float15.00%
52-Week Range $13.55 - 22.34
Shares Outstanding (Mil)230.07

Analyst Estimate

Dec17 Dec18
Revenue (Mil $) 3,094 3,167
EPS ($) 1.34 -0.20
EPS without NRI ($) 1.34 -0.20
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)
» More Articles for CNX

Headlines

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Longleaf Partners Comments on CONSOL Energy Jul 20 2017 
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Longleaf Partners Comments on CONSOL Energy Jul 18 2017 
Longleaf Partners Fund 2nd Quarter 2017 Fund Commentary Jul 18 2017 
CONSOL Energy Announces Filing of Form 10 Registration Statement for Spin-Off of its Pennsylvania Mi Jul 11 2017 
CNX Coal Resources Schedules Second Quarter 2017 Earnings Release and Conference Call Jul 07 2017 
Mason Hawkins Buys Consol Energy, Viasat, Sonic Jun 09 2017 
CONSOL Energy Releases Annual Corporate Responsibility Report May 23 2017 

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