Is CONSOL Energy (CEIX) a Good Investment Pick?

Greenlight Capital, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. The Greenlight Capital funds (the “Partnerships”) returned 8.4% in the second quarter of 2022 and 13.2% for the first half of 2022, compared to a 16.1% decline and a 20.0% decline for the S&P 500 index for the quarter and a half year, respectively. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Greenlight Capital mentioned CONSOL Energy Inc. (NYSE:CEIX) and explained its insights for the company. Founded in 1864, CONSOL Energy Inc. (NYSE:CEIX) is a Canonsburg, Pennsylvania-based energy company with a $2.4 billion market capitalization. CONSOL Energy Inc. (NYSE:CEIX) delivered a 205.37% return since the beginning of the year, while its 12-month returns are up by 209.32%. The stock closed at $69.35 per share on August 12, 2022.

Here is what Greenlight Capital has to say about CONSOL Energy Inc. (NYSE:CEIX) in its Q2 2022 investor letter:

CONSOL Energy (NYSE:CEIX). The shares ended the quarter at $49.38. Though it trades at a nosebleed 2.6x book value, we expect the company to generate approximately $50 per share in after-tax free cash flow by the end of 2023. Capital returns have not yet begun, but we expect they will shortly.”

Natural Gas


Our calculations show that CONSOL Energy Inc. (NYSE:CEIX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. CONSOL Energy Inc. (NYSE:CEIX) was in 22 hedge fund portfolios at the end of the second quarter of 2022, compared to 15 funds in the previous quarter. CONSOL Energy Inc. (NYSE:CEIX) delivered a 44.03% return in the past 3 months.

In August 2021, we also shared another hedge fund’s views on CONSOL Energy Inc. (NYSE:CEIX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.