CONSOL Energy (NYSE:CEIX) Reaches New 52-Week High After Strong Earnings

CONSOL Energy Inc. (NYSE:CEIX)’s share price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $121.27 and last traded at $121.27, with a volume of 5731 shares. The stock had previously closed at $113.63.

The company reported $3.22 EPS for the quarter, beating the consensus estimate of $3.17 by $0.05. The business 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%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.11 earnings per share.

CONSOL Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.79%. CONSOL Energy’s dividend payout ratio is currently 1.85%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On CONSOL Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in shares of CONSOL Energy by 14.7% in the 3rd quarter. Empowered Funds LLC now owns 100,288 shares of the company’s stock valued at $10,495,000 after acquiring an additional 12,882 shares in the last quarter. Royce & Associates LP lifted its position in CONSOL Energy by 141.5% during the third quarter. Royce & Associates LP now owns 10,695 shares of the company’s stock valued at $1,119,000 after purchasing an additional 6,266 shares during the last quarter. KBC Group NV grew its stake in CONSOL Energy by 33.2% in 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 in the last quarter. Hourglass Capital LLC increased its holdings in shares of CONSOL Energy by 41.3% in the 3rd quarter. Hourglass Capital LLC now owns 47,120 shares of the company’s stock worth $4,931,000 after buying an additional 13,770 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of CONSOL Energy by 578.7% during the 3rd quarter. Victory Capital Management Inc. now owns 265,133 shares of the company’s stock valued at $27,746,000 after buying an additional 226,069 shares in the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

CONSOL Energy Price Performance

The business’s fifty day moving average price is $103.34 and its 200-day moving average price is $98.11. The company has a market capitalization of $3.73 billion, a P/E ratio of 9.40 and a beta of 1.73. The company has a current ratio of 1.55, a quick ratio of 1.31 and a debt-to-equity ratio of 0.13.

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.