CONSOL Energy (NYSE:CEIX) Trading Down 3.6% - Here's What Happened

Shares of CONSOL Energy Inc. (NYSE:CEIX - Get Free Report) traded down 3.6% during mid-day trading on Tuesday . The company traded as low as $97.30 and last traded at $98.24. 89,808 shares changed hands during trading, a decline of 93% from the average session volume of 1,379,867 shares. The stock had previously closed at $101.95.

Wall Street Analysts Forecast Growth

CEIX has been the topic of a number of research reports. Benchmark boosted their target price on shares of CONSOL Energy from $105.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. B. Riley upped 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.

CONSOL Energy Stock Performance

The company's 50-day simple moving average is $117.31 and its 200-day simple moving average is $106.28. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 7.39 and a beta of 1.80. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05.

CONSOL Energy (NYSE:CEIX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $3.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.17 by $0.05. The company had revenue of $574.90 million during the quarter, compared to the consensus estimate of $554.00 million. CONSOL Energy had a return on equity of 28.96% and a net margin of 18.02%. The firm's revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $3.11 earnings per share. On average, analysts expect that CONSOL Energy Inc. will post 11.57 EPS for the current year.

CONSOL Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, November 15th. CONSOL Energy's dividend payout ratio is 7.34%.

Institutional Trading of CONSOL Energy

Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC bought a new position in CONSOL Energy in the second quarter worth approximately $230,000. Choreo LLC bought a new position in shares of CONSOL Energy in the 2nd quarter worth $209,000. American Century Companies Inc. grew its position in CONSOL Energy by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 611,291 shares of the company's stock valued at $62,370,000 after purchasing an additional 38,669 shares during the period. BOKF NA bought a new stake in CONSOL Energy during the 2nd quarter valued at $509,000. Finally, Envestnet Asset Management Inc. raised its holdings in CONSOL Energy by 18.4% during the second quarter. Envestnet Asset Management Inc. now owns 98,971 shares of the company's stock worth $10,098,000 after buying an additional 15,382 shares during the last quarter. Institutional investors own 86.54% of the company's stock.

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.