According to a Barron's, Consol Energy (CNX) is a Stock to Watch

According to a Barron's article, Consol Energy (NYSE: CNX) is a stock to watch. The Company's coal production continues to hit higher high's, citing record overseas sales of approximately 11.4 million tons (in 2011). With record earnings and profits, the company's operating cash flow topped out at $1.5 billion in 2011 (which enabled CNX to raise it's annual dividend to $0.50 (~1.50%).

Consol is also making major moves in Natural Gas, including the 2010 acquisition of Utica and Marcellus Shale deposits from Dominion (NYSE: D) for $3.5 billion. And, in a stellar move, CNX, turned around and entered into joint ventures with Noble (NYSE: NBL) and Hess (NYSE: HES) for about $4 billion. CNX also acquired the remaining part of CNX Gas it didn't already own. The Barron's author feels that the Nat Gas assets will offer better long-term growth prospects than coal.

However, shares of CNX have fallen almost 40% in the past year as investors cringe because of falling Nat Gas. Prices have dropped to decade-lows after recent new discoveries and better technology have boosted domestic supplies.

Barron's feels that CNX's current share price is a real opportunity in anyone's portfolio and company's P/E range is also attractive.

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