Wall Street has been clamoring for oil and gas companies to cut costs amid an epic energy bust, but that hasn’t stopped investors from punishing them the moment they do. Consol Energy Inc. CNX -11.14 % led off what turned out to be a day of widespread losses in the energy sector by plummeting 11% after announcing it would halve its expected outlay for oil and gas production in 2016. The losses came two days after natural-gas producer Eclipse Resources Corp. ECR -6.29 % lost 6.4% after saying it expects production to fall 15% in the first quarter compared with a year earlier. Analysts have been looking at these companies this week as a bellwether for an industry in turmoil. Many are expecting these to be among the first in a wave of spending cuts in coming weeks as companies announce last year’s earnings and 2016’s budgets. Eight exploration […]