12,173 Shares in Core Natural Resources, Inc. (NYSE:CNR) Acquired by Empirical Finance LLC

Key Points

• Empirical Finance LLC acquired 12,173 shares of Core Natural Resources, Inc. (NYSE:CNR), valued at approximately $939,000, marking a significant investment during the first quarter.
• Core Natural Resources saw a recent drop in target prices from several research firms, with UBS Group lowering its target from $80.00 to $78.00, although the stock maintains a consensus rating of "Moderate Buy."
• The company recently cut its dividend to $0.10, reflecting a dividend yield of 0.57%, indicating a conservative financial strategy in the current market conditions.

Empirical Finance LLC purchased a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,173 shares of the energy company's stock, valued at approximately $939,000.

A number of other hedge funds have also modified their holdings of CNR. Victory Capital Management Inc. acquired a new stake in Core Natural Resources in the 1st quarter valued at about $42,950,000. Bank of New York Mellon Corp purchased a new position in shares of Core Natural Resources in the 1st quarter valued at approximately $30,034,000. Pacer Advisors Inc. purchased a new stake in shares of Core Natural Resources in the first quarter valued at approximately $23,003,000. Magnolia Group LLC purchased a new stake in shares of Core Natural Resources in the first quarter valued at approximately $22,899,000. Finally, Goehring & Rozencwajg Associates LLC acquired a new position in Core Natural Resources during the first quarter worth $20,729,000. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Core Natural Resources Stock Down 0.1%

Shares of NYSE CNR traded down $0.07 on Thursday, hitting $73.40. The company had a trading volume of 578,095 shares, compared to its average volume of 980,409. The firm has a market capitalization of $3.87 billion, a P/E ratio of 15.17 and a beta of 0.68. Core Natural Resources, Inc. has a 12-month low of $58.19 and a 12-month high of $134.59. The company has a quick ratio of 1.34, a current ratio of 1.89 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $71.93 and a two-hundred day moving average of $80.98.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported ($1.38) EPS for the quarter, missing analysts' consensus estimates of $1.74 by ($3.12). The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $964.15 million. Core Natural Resources had a net margin of 4.29% and a return on equity of 8.32%. As a group, equities research analysts forecast that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.10 per share. This represents a yield of 0.57%. The ex-dividend date was Friday, May 30th. Core Natural Resources's payout ratio is currently 8.26%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CNR shares. B. Riley reduced their price objective on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. UBS Group dropped their target price on Core Natural Resources from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Thursday, July 3rd. Finally, Benchmark lowered their price target on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $118.60.

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.