Cresset Asset Management LLC Buys New Position in Core Natural Resources, Inc. $CNR

Key Points

• Cresset Asset Management LLC has acquired a stake of 27,079 shares in Core Natural Resources, valued at approximately $2,088,000, representing 0.05% ownership in the company.
• Institutional investors hold 86.54% of Core Natural Resources' stock, with multiple new stakes established by various hedge funds in the first quarter.
• Core Natural Resources recently reported a significant miss in earnings per share, posting ($0.70) as opposed to the expected $1.31, while revenue of $1.10 billion exceeded estimates.

Cresset Asset Management LLC bought a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,079 shares of the energy company's stock, valued at approximately $2,088,000. Cresset Asset Management LLC owned about 0.05% of Core Natural Resources as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in Core Natural Resources in the first quarter valued at $482,793,000. Dimensional Fund Advisors LP acquired a new stake in Core Natural Resources in the first quarter valued at $225,045,000. American Century Companies Inc. acquired a new stake in Core Natural Resources in the first quarter valued at $123,526,000. Charles Schwab Investment Management Inc. acquired a new stake in Core Natural Resources in the first quarter valued at $48,630,000. Finally, Victory Capital Management Inc. acquired a new stake in Core Natural Resources in the first quarter valued at $42,950,000. Institutional investors and hedge funds own 86.54% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. B. Riley lowered their target price on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Jefferies Financial Group reiterated a "hold" rating and set a $78.00 price objective (up previously from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Benchmark dropped their price objective 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. Finally, UBS Group reiterated a "buy" rating and set a $86.00 price objective (up previously from $78.00) on shares of Core Natural Resources in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $105.80.

Core Natural Resources Trading Up 1.7%

NYSE:CNR traded up $1.23 during mid-day trading on Monday, reaching $73.54. The company's stock had a trading volume of 134,230 shares, compared to its average volume of 960,052. The company's fifty day simple moving average is $73.46 and its two-hundred day simple moving average is $73.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.25. Core Natural Resources, Inc. has a twelve month low of $58.19 and a twelve month high of $134.59. The stock has a market cap of $3.79 billion, a P/E ratio of 33.73 and a beta of 0.66.

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

Core Natural Resources Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.10 dividend. This represents a dividend yield of 56.0%. The ex-dividend date is Friday, August 29th. Core Natural Resources's dividend payout ratio (DPR) is 18.35%.

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.