Pacer Advisors Inc. Invests $23 Million in Core Natural Resources, Inc. (NYSE:CNR)

Key Points

• Pacer Advisors Inc. purchased 298,347 shares of Core Natural Resources, Inc. valued at approximately $23 million, representing 0.56% ownership of the company.
• The company reported a quarterly earnings miss with an EPS of ($1.38), compared to analysts' expectations of $1.74, despite revenue of $1.02 billion.
• Analysts have reduced their price targets for Core Natural Resources, with a consensus target price of $118.60 and a "Moderate Buy" rating.

Pacer Advisors Inc. bought a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 298,347 shares of the energy company's stock, valued at approximately $23,003,000. Pacer Advisors Inc. owned approximately 0.56% of Core Natural Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Advisory Services Network LLC purchased a new stake in shares of Core Natural Resources in the 4th quarter valued at approximately $756,000. Marshall Wace LLP purchased a new stake in shares of Core Natural Resources in the 4th quarter valued at approximately $884,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Core Natural Resources in the 4th quarter valued at approximately $28,790,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Core Natural Resources in the 4th quarter valued at approximately $345,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Core Natural Resources in the 4th quarter valued at approximately $241,000. Institutional investors and hedge funds own 86.54% of the company's stock.

Wall Street Analyst Weigh In

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

Core Natural Resources Stock Performance

NYSE:CNR traded down $1.82 during midday trading on Wednesday, reaching $74.88. The stock had a trading volume of 134,808 shares, compared to its average volume of 979,902. Core Natural Resources, Inc. has a 1-year low of $58.19 and a 1-year high of $134.59. The firm's fifty day simple moving average is $71.89 and its 200-day simple moving average is $81.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.89 and a quick ratio of 1.34. The stock has a market capitalization of $3.94 billion, a P/E ratio of 15.47 and a beta of 0.68.

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

Core Natural Resources Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.10 dividend. This represents a yield of 0.57%. The ex-dividend date of this dividend was Friday, May 30th. Core Natural Resources's dividend payout ratio (DPR) is presently 8.26%.

About Core Natural Resources

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.