CONSOL Energy (NYSE:CEIX) Hits New 12-Month High After Better-Than-Expected Earnings

CONSOL Energy Inc. (NYSE:CEIX)’s share price reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $121.27 and last traded at $121.27, with a volume of 5731 shares changing hands. The stock had previously closed at $113.63.

The company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.17 by $0.05. The company had revenue of $574.90 million for the quarter, compared to the consensus estimate of $554.00 million. CONSOL Energy had a net margin of 18.28% and a return on equity of 30.50%. CONSOL Energy’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $3.11 earnings per share.

CONSOL Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 0.83%. CONSOL Energy’s dividend payout ratio is presently 1.85%.

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their target price on CONSOL Energy from $109.00 to $138.00 and gave the stock a “buy” rating in a report on Monday, October 7th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its stake in shares of CONSOL Energy by 4.1% in the second quarter. Mackenzie Financial Corp now owns 2,783 shares of the company’s stock valued at $284,000 after buying an additional 109 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of CONSOL Energy by 4.0% during the second quarter. Evergreen Capital Management LLC now owns 3,855 shares of the company’s stock worth $393,000 after purchasing an additional 147 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of CONSOL Energy by 1.9% in the second quarter. Empirical Finance LLC now owns 11,583 shares of the company’s stock valued at $1,182,000 after purchasing an additional 217 shares during the period. CWM LLC grew its holdings in CONSOL Energy by 70.7% during the 2nd quarter. CWM LLC now owns 531 shares of the company’s stock valued at $54,000 after purchasing an additional 220 shares in the last quarter. Finally, KBC Group NV increased its stake in CONSOL Energy by 33.2% during the 3rd quarter. KBC Group NV now owns 1,019 shares of the company’s stock worth $107,000 after buying an additional 254 shares during the period. 86.54% of the stock is owned by hedge funds and other institutional investors.

CONSOL Energy Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.31 and a current ratio of 1.55. The business’s fifty day simple moving average is $102.78 and its 200 day simple moving average is $97.91. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 8.41 and a beta of 1.73.

About CONSOL Energy

CONSOL Energy Inc, together with its subsidiaries, produces and sells bituminous coal in the United States and internationally. It operates through two segments, Pennsylvania Mining Complex (PAMC) and CONSOL Marine Terminal. The company's PAMC segment engages in the mining, preparing, and marketing of bituminous coal to power generators, industrial end-users, and metallurgical end-users.