Core Natural Resources (NYSE:CNR) Issues Quarterly Earnings Results

Core Natural Resources (NYSE:CNR) announced its earnings results on Thursday. The energy company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of ($1.40) by $2.01, Zacks reports. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.05 billion. The business’s revenue for the quarter was up 74.4% on a year-over-year basis.

Core Natural Resources Stock Performance

Shares of CNR stock traded up $8.57 during mid-day trading on Thursday, hitting $86.20. 1,885,824 shares of the stock were exchanged, compared to its average volume of 941,340. The stock’s fifty day simple moving average is $82.18 and its two-hundred day simple moving average is $75.89. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 39.54 and a beta of 0.63. Core Natural Resources has a 12-month low of $58.19 and a 12-month high of $134.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78.

Core Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Core Natural Resources’s dividend payout ratio (DPR) is currently 18.35%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CNR shares. Weiss Ratings restated a “hold (c)” rating on shares of Core Natural Resources in a research note on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Core Natural Resources from a “hold” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $125.00 in a research note on Friday, October 10th. UBS Group boosted their target price on shares of Core Natural Resources from $89.00 to $105.50 and gave the company a “buy” rating in a research note on Wednesday, October 8th. B. Riley cut their price objective on Core Natural Resources from $112.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Finally, Zacks Research cut shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.10.

Insider Buying and Selling

In other news, Director Richard A. Navarre sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the sale, the director owned 21,830 shares of the company’s stock, valued at $1,794,426. The trade was a 18.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick A. Kriegshauser sold 3,043 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.07, for a total transaction of $234,524.01. Following the completion of the transaction, the director owned 23,348 shares in the company, valued at approximately $1,799,430.36. This trade represents a 11.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,043 shares of company stock valued at $740,524 over the last quarter. 1.41% of the stock is currently owned by insiders.

Institutional Trading of Core Natural Resources

A number of institutional investors and hedge funds have recently made changes to their positions in CNR. State Street Corp grew its holdings in Core Natural Resources by 10.2% during the 2nd quarter. State Street Corp now owns 3,169,543 shares of the energy company’s stock valued at $221,044,000 after purchasing an additional 294,312 shares in the last quarter. Bank of America Corp DE grew its stake in Core Natural Resources by 48.9% during the 2nd quarter. Bank of America Corp DE now owns 585,137 shares of the energy company’s stock worth $40,807,000 after buying an additional 192,136 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Core Natural Resources by 10,023.9% in the second quarter. Balyasny Asset Management L.P. now owns 295,720 shares of the energy company’s stock valued at $20,624,000 after purchasing an additional 292,799 shares during the period. First Trust Advisors LP increased its stake in shares of Core Natural Resources by 619.5% in the second quarter. First Trust Advisors LP now owns 267,445 shares of the energy company’s stock valued at $18,652,000 after purchasing an additional 230,275 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Core Natural Resources by 4.3% in the second quarter. Public Sector Pension Investment Board now owns 190,139 shares of the energy company’s stock valued at $13,260,000 after purchasing an additional 7,812 shares during the period. 86.54% of the stock is currently owned by institutional investors and hedge funds.

Core Natural Resources Company Profile

Core Natural Resources, 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.