Mason Hawkins’ Southeastern Ups Stake in Consol Energy (CNX)

Mason Hawkins’ Southeastern Asset Management, a significant stakeholder of CONSOL Energy Inc (NYSE:CNX) has upped its skate in the company for a second time this year to 23.1 million shares from approximately 22.7 million shares held previously. The stake currently amounts to 10.1% of the company’s shares outstanding.

Mason Hawkins

CONSOL Energy Inc (NYSE:CNX) is one of the largest independent natural gas exploration, development and production companies. The stock sports a forward P/E of around 21, and has a beta of 1.74.

Late last month, the company entered into an agreement with Ineos Europe AG, part of the Ineos Group, to supply ethane for its European cracker plants. By signing this agreement, Consol has secured long-term access to a pipeline that can transport this product to market and this also provide the company an opportunity to realize the full benefit of the natural gas it develops.

For the fourth quarter 2013, Consol Energy reported EPS of $3.20 compared to $0.65 recorded a year ago. For the full 2013, the company reported revenues of $3.3 billion, down from $3.7 million in 2012 and EPS of $2.87 per share, up from $1.70 per share in 2012.

Other significant stakeholders of Consol Energy include Bill Miller’s Legg Mason Capital Management, which holds 2.4 million shares, followed by Mario Gabelli’s GAMCO Investors, with ownership of 1.5 million shares. Next up is Blue Mountain Capital, led by Andrew Feldstein and Stephen Siderow, which owns 1.4 million shares of the energy company.

Founded in 1975, Southeastern is an independent global money manager investing in undervalued securities for clients worldwide. It is headquartered in Tennessee and has a portfolio value of $20.4 billion. Mason Hawkins received a B.A. in Finance from the University of Florida in 1970, and an M.B.A in Finance from the University of Georgia in 1971. Prior to founding Southeastern, Mr. Hawkins was serving as Director of Research at First Tennessee Investment Management. Then in 1975, Mr. Hawkins and three other partners founded Southeastern. Two partners left the firm in the 80s. Since 1989, Mr. Hawkins has also served as the co-portfolio manager of Longleaf Partners Small-Cap Fund.

Some of the largest investments of the fund as at the end of the fourth quarter of 2013 includes Fedex Corp (NYSE:FDX), in which Southeastern owns approximately 13.3 million shares, worth $1.9 billion. The fund also holds 68.7 million shares of Chesapeake Energy Corporation (NYSE:CHK), with a reported value of $1.9 billion. The third largest stake of Southeastern Asset Management is in Loews Corp (NYSE:L), which amounts to around 35.0 million shares worth $1.6 billion.

Disclosure:none

Recommended Reading:

Segantii Capital and Billionaires are Betting On These Stocks

Hound Partners & Arrow Capital Management Are Buying the Same Stocks

Gregory A. Weaver, Invicta Capital Management Dump The Stake in American Electric Technologies, Inc. (AETI)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!