Do Hedge Funds Love CONSOL Energy Inc. (CNX)?

As industrywide interest jumped, key hedge funds have been driving this bullishness. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, assembled the most outsized position in CONSOL Energy Inc. (NYSE:CNX). Marshall Wace LLP had $9.3 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also made an $1.3 million investment in the stock during the quarter. The other funds with brand new CNX positions are John Overdeck and David Siegel’s Two Sigma Advisors, Joe DiMenna’s ZWEIG DIMENNA PARTNERS, and Phil Frohlich’s Prescott Group Capital Management.

Let’s go over hedge fund activity in other stocks similar to CONSOL Energy Inc. (NYSE:CNX). These stocks are Cooper Tire & Rubber Company (NYSE:CTB), Primerica, Inc. (NYSE:PRI), Banco Macro SA (ADR) (NYSE:BMA), and Companhia Energetica Minas Gerais (ADR) (NYSE:CIG). All of these stocks’ market caps are closest to CNX’s market cap.

As you can see these stocks had an average of 15.5 hedge funds with bullish positions and the average amount invested in these stocks was $119 million. That figure was $894 million in CNX’s case. Cooper Tire & Rubber Company (NYSE:CTB) is the most popular stock in this table. On the other hand Companhia Energetica Minas Gerais (ADR) (NYSE:CIG) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks CONSOL Energy Inc. (NYSE:CNX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.