Shares of CONSOL Energy (CNX) Sees Large Outflow of Money

CONSOL Energy (CNX): The stock had negative money flow to the tune of ($16.49 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $9.21 million, whereas, the outflow of money on downticks was $25.71 million and the ratio between the two was 0.36. The block trade had a negative net money flow of ($16.97 million). The total block trade value undertaken on upticks was $1.22 million. On the other hand, downticks amounted to $18.19 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.07. CONSOL Energy (CNX) closed with marginal gains of 50 cents to end the day at $17.11, an increase of 3.01% over the previous days close. The stock recorded -0.47% for the week.


Also, Barclays maintains its rating on CONSOL Energy (NYSE:CNX). The global brokerage major raises the current price target from $12 per share to $14 per share. Analysts at the Barclays have a current rating of Equalweight on the shares. The rating by the firm was issued on July 13, 2016.

CONSOL Energy (NYSE:CNX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.41 and $16.26 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.19. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.06, notching a gain of 2.71% for the day. The total traded volume was 7,024,252 . The stock had closed at $16.61 on the previous day.

The stock has recorded a 20-day Moving Average of 6.93% and the 50-Day Moving Average is 13.64%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Consol Energy Inc, Thorndike William N Jr, had purchased 50,000 shares in a transaction dated on July 30, 2015. The transaction was executed at $16.88 per share with total amount equaling $844,000.

CONSOL Energy Inc. is an integrated energy company. The Company operates through two divisions: oil and gas exploration and production (E&P), and coal mining. The E&P division is focused on natural gas and liquids activities, including production, gathering, processing and acquisition of natural gas properties in the Appalachian Basin (Pennsylvania, West Virginia, Ohio, Virginia and Tennessee). The coal division is focused on the extraction and preparation of coal, in the Appalachian Basin. It holds two joint ventures, one with Noble Energy, Inc. in the Marcellus Shale and one with a subsidiary of Hess Corporation in the Utica Shale. Its gas operations include Marcellus Shale, Utica Shale, Coalbed Methane and Other Gas properties. Its coal mining division includes Pennsylvania (PA) operations coal segment, Virginia (VA) operations coal segment and other coal segment. As of December 31, 2014, the Company has a total production of 645,792 million cubic feet per day (Mcfe per day).

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