Two Insiders and Mason Hawkins Increase Their Bets on CONSOL Energy Inc. (CNX)

Yesterday, Feb. 10th, two insiders at CONSOL Energy Inc. (NYSE:CNX) acquired stock of the company. Alvin Carpenter, Director of The Board purchased 30,000 shares of Common Stock at an average price of $36.71 per share.* Mr. Carpenter now owns more than 34,000 shares**, worth more than $1.2 million.

On the same date as his colleague, David Khani, Executive Vice President and Chief Financial Officer, bought 2,800 CONSOL Energy Inc. (NYSE:CNX) shares for a price of $36.67*** per share. He now holds 43,354**** shares of the company.

Finally, Mason Hawkins‘ Southeastern Asset Management, a significant shareholder of CONSOL Energy Inc. (NYSE:CNX), declared a slight increase in its position in the stock yesterday. The fund declared (in a 13G/A filing) that it holds more than 22.69 million shares, which comprises almost 4% of the fund’s Q3 equity portfolio.

Mason Hawkins

 

CONSOL Energy Inc. (NYSE:CNX) is an $8.5 billion market cap, multi-fuel energy producer and energy services provider. Focused mainly on coal and gas, it primarily serves the electric power generation industry in the United States. Trading at 116 times the company’s earnings this stock is certainly not cheat. However, most analysts tend to recommend buying this stock, mainly in account of its above-average (although still razor thin) margins, returns and a small dividend yield, and its amazing long-term EPS growth projections –the average annual EPS growth rate is expected around 32%-33% for the next five years, compared to an industry average of 5%-6%.

Both purchases follow the filing of CONSOL Energy Inc. (NYSE:CNX)’s 2013 annual report, which features record total gas production of 172.4 Bcfe in 2013, 10% higher than 2012; record Marcellus Shale production of 57.8 Bcfe in 2013, 58% higher than in 2012; a realignment of its dividend yield; the completion of important leases, farm-in agreements and sales; and a strong guidance for 2014.

It seems like the stock price premium hasn’t discouraged these insiders, and neither has it had this effect over some of the major hedge funds betting on this company. Previously, during the third quarter, Dinakar Singh’s Tpg-Axon Management Lp has started a position of more than 2.3 million shares in CONSOL Energy Inc. (NYSE:CNX); and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital had upped its stakes by about 52% over the same period, increasing its holdings to 2.28 million shares.

With both insiders and hedge funds showing themselves quite bullish about CONSOL Energy Inc. (NYSE:CNX), should you too?

* “Represents the weighted average of forty seven open-market purchase transactions ranging in price from $36.42 to $37.08. The reporting person agrees to provide full information regarding the number of shares purchased at each separate price paid if requested by the SEC staff, the Company or a security holder of the Company. ” (Sec.gov)

** “Of the 34,584 shares held directly, 3,584 are restricted stock units (including dividend equivalent rights).” (Sec.gov)

*** “Represents the weighted average of six open-market purchase transactions ranging in price from $36.67 to $36.68. The reporting person agrees to provide full information regarding the number of shares purchased at each separate price paid if requested by the SEC staff, the Company or a security holder of the Company.” (Sec.gov)

**** “Of the 43,354 shares owned directly, 36,915 are restricted stock units (including dividend equivalent rights).” (Sec.gov)

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

Strong Insider Activity at Cincinnati Financial Corporation (CINF): Three Insiders Bought Shares

Two Insiders Are Betting On Archer Daniels Midland Company (ADM)

Mathew Martoma Insider Trading Conviction: Guilty

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!