Palo Duro Investment Partners LP Purchases New Shares in Core Natural Resources, Inc. $CNR

Key Points

• Palo Duro Investment Partners LP acquired 3,506 shares of Core Natural Resources, Inc., valued at approximately $270,000, making it the fund's 18th largest holding.
• Core Natural Resources recently reported disappointing earnings with an EPS of ($0.70), missing analyst estimates of $1.31, despite revenue of $1.10 billion exceeding expectations.
• The company announced a dividend of $0.10 per share, to be paid on September 15th, which represents a significant yield of 56.0% based on current payouts.

Palo Duro Investment Partners LP purchased a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,506 shares of the energy company's stock, valued at approximately $270,000. Core Natural Resources comprises approximately 0.1% of Palo Duro Investment Partners LP's portfolio, making the stock its 18th biggest position.

Several other institutional investors also recently modified their holdings of CNR. Versant Capital Management Inc bought a new stake in Core Natural Resources during the first quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Core Natural Resources during the 1st quarter worth $29,000. Farther Finance Advisors LLC purchased a new position in Core Natural Resources in the first quarter worth $30,000. Whipplewood Advisors LLC bought a new position in Core Natural Resources in the first quarter valued at $31,000. Finally, TruNorth Capital Management LLC purchased a new stake in Core Natural Resources during the first quarter valued at about $33,000. 86.54% of the stock is currently owned by institutional investors.

Core Natural Resources Trading Down 0.8%

Shares of Core Natural Resources stock traded down $0.57 on Thursday, hitting $72.03. The stock had a trading volume of 432,241 shares, compared to its average volume of 935,274. The stock's 50-day simple moving average is $74.13 and its two-hundred day simple moving average is $72.65. Core Natural Resources, Inc. has a one year low of $58.19 and a one year high of $134.59. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 33.04 and a beta of 0.76.

Core Natural Resources (NYSE:CNR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The energy company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of $1.31 by ($2.01). Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.04 billion. As a group, sell-side analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be issued a dividend of $0.10 per share. This represents a yield of 56.0%. The ex-dividend date is Friday, August 29th. Core Natural Resources's payout ratio is currently 18.35%.

Wall Street Analysts Forecast Growth

CNR has been the subject of a number of research reports. Jefferies Financial Group reiterated a "hold" rating and issued a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. UBS Group reaffirmed a "buy" rating and issued a $86.00 target price (up previously from $78.00) on shares of Core Natural Resources in a research note on Friday, August 8th. Finally, B. Riley decreased their price target 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.80.

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.