BlackRock Boosts CONSOL Energy Stake to 30.9%
Ticker: CNR · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1710366
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, coal-mining, large-holder
TL;DR
**BlackRock just upped its CONSOL Energy stake to 30.9%, a big bullish signal!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in CONSOL Energy Inc. as of December 31, 2023. BlackRock now beneficially owns 10,772,019 shares of CONSOL Energy's Common Stock, representing 30.9% of the company. This is a significant increase from their previous filing, indicating BlackRock's growing confidence or strategic interest in the coal and lignite mining company, which could signal stability or potential future influence for current and prospective shareholders.
Why It Matters
This filing shows a major institutional investor, BlackRock, has significantly increased its ownership in CONSOL Energy, which can be seen as a vote of confidence and may influence stock stability.
Risk Assessment
Risk Level: low — Increased institutional ownership by a major firm like BlackRock generally reduces volatility and adds stability to a stock.
Analyst Insight
Investors should view BlackRock's increased stake as a positive signal, potentially indicating long-term value or stability for CONSOL Energy, and consider researching the implications of such a large institutional holding.
Key Numbers
- 10,772,019 — Shares Beneficially Owned (This is the total number of CONSOL Energy shares BlackRock now controls, indicating a substantial investment.)
- 30.9% — Percentage of Class (This represents a significant portion of CONSOL Energy's common stock, giving BlackRock considerable influence.)
Key Players & Entities
- BlackRock Inc. (company) — the filer, a major institutional investor
- CONSOL Energy Inc. (company) — the subject company, a bituminous coal & lignite mining firm
- 10,772,019 shares (dollar_amount) — the total number of shares beneficially owned by BlackRock
- 30.9% (dollar_amount) — the percentage of CONSOL Energy's common stock owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock's increased stake could lead to more stable stock performance for CONSOL Energy. (CONSOL Energy Inc.) — medium confidence, target: next 6-12 months
- BlackRock may exert greater influence on CONSOL Energy's corporate governance or strategic decisions. (CONSOL Energy Inc.) — medium confidence, target: next 12-24 months
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A is an amendment (Amendment No: 4) filed by BlackRock Inc. to update its beneficial ownership of Common Stock in CONSOL Energy Inc. as of December 31, 2023, under Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the filer of this SC 13G/A and what is their business?
The filer is BlackRock Inc., a company with the Central Index Key 0001364742, primarily classified under 'SECURITY BROKERS, DEALERS & FLOTATION COMPANIES' (SIC 6211). Their business address is 50 Hudson Yards, New York, NY 10001.
What is the subject company of this filing and its industry?
The subject company is CONSOL Energy Inc., with Central Index Key 0001710366. It is classified under 'BITUMINOUS COAL & LIGNITE MINING' (SIC 1220), and its business address is 275 Technology Drive, Suite #101, Canonsburg, PA 15317.
How many shares of CONSOL Energy Inc. does BlackRock Inc. beneficially own according to this filing?
According to the filing, BlackRock Inc. beneficially owns 10,772,019 shares of CONSOL Energy Inc. Common Stock as of December 31, 2023.
What percentage of CONSOL Energy Inc.'s Common Stock does BlackRock Inc. now own?
BlackRock Inc. now beneficially owns 30.9% of the Common Stock of CONSOL Energy Inc., as reported in this SC 13G/A filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding CONSOL Energy Inc. (CNR).