CONSOL Energy (NYSE:CEIX) Stock Price Up 6.9% After Better-Than-Expected Earnings

CONSOL Energy Inc. (NYSE:CEIX) shares rose 6.9% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $89.23 and last traded at $89.23. Approximately 55,761 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 536,141 shares. The stock had previously closed at $83.48.

The company reported $3.39 earnings per share for the quarter, topping the consensus estimate of $2.19 by $1.20. The business had revenue of $565.00 million during the quarter, compared to analyst estimates of $516.85 million. CONSOL Energy had a return on equity of 49.80% and a net margin of 25.53%. The company’s revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company posted $6.55 EPS.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their price objective on CONSOL Energy from $100.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th.

Insiders Place Their Bets

In related news, CAO John Rothka sold 2,000 shares of CONSOL Energy stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $94.56, for a total value of $189,120.00. Following the transaction, the chief accounting officer now directly owns 13,108 shares of the company’s stock, valued at $1,239,492.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On CONSOL Energy

A number of hedge funds have recently modified their holdings of CEIX. Pacer Advisors Inc. lifted its holdings in shares of CONSOL Energy by 58.3% during the fourth quarter. Pacer Advisors Inc. now owns 1,208,213 shares of the company’s stock worth $121,462,000 after purchasing an additional 445,155 shares during the period. Vanguard Group Inc. lifted its holdings in CONSOL Energy by 21.0% in the fourth quarter. Vanguard Group Inc. now owns 2,437,023 shares of the company’s stock valued at $244,994,000 after buying an additional 423,338 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in CONSOL Energy in the third quarter valued at $31,922,000. Hennessy Advisors Inc. acquired a new position in CONSOL Energy in the fourth quarter valued at $20,810,000. Finally, Dalal Street LLC lifted its holdings in CONSOL Energy by 94.9% in the third quarter. Dalal Street LLC now owns 396,570 shares of the company’s stock valued at $41,604,000 after buying an additional 193,096 shares during the period. Institutional investors and hedge funds own 86.54% of the company’s stock.

CONSOL Energy Trading Up 2.6 %

The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 5.33 and a beta of 1.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.35 and a quick ratio of 1.16. The firm’s fifty day moving average is $84.74 and its 200-day moving average is $92.21.

CONSOL Energy Company Profile

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.