Encompass Capital Advisors LLC Purchases 275,000 Shares of Core Natural Resources, Inc. $CNR

Key Points

• Encompass Capital Advisors increased its Core Natural Resources stake by 122.2%, purchasing 275,000 shares to reach 500,000 shares valued at approximately $52.4 million. Institutional investors collectively own 86.54% of the company.
• CNR shares opened at $82.45, below their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.41, exceeding estimates of $0.28, while revenue reached $899.5 million and rose 94.7% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $112.50 price target, despite mixed recent revisions. Core Natural Resources also maintains a quarterly dividend of $0.10 per share, equivalent to a 0.5% annual yield.

Encompass Capital Advisors LLC lifted its position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 122.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the energy company's stock after buying an additional 275,000 shares during the period. Core Natural Resources comprises 1.6% of Encompass Capital Advisors LLC's investment portfolio, making the stock its 16th largest position. Encompass Capital Advisors LLC owned 0.99% of Core Natural Resources worth $52,365,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Core Natural Resources by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,669,844 shares of the energy company's stock worth $501,838,000 after buying an additional 39,557 shares in the last quarter. State Street Corp grew its position in Core Natural Resources by 7.8% during the fourth quarter. State Street Corp now owns 3,707,442 shares of the energy company's stock valued at $328,146,000 after acquiring an additional 267,925 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Core Natural Resources during the fourth quarter worth approximately $86,297,000. Charles Schwab Investment Management Inc. raised its stake in shares of Core Natural Resources by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,224 shares of the energy company's stock worth $66,491,000 after acquiring an additional 40,383 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in shares of Core Natural Resources by 134.0% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 708,225 shares of the energy company's stock worth $74,172,000 after acquiring an additional 405,505 shares during the last quarter. Institutional investors own 86.54% of the company's stock.

Core Natural Resources Trading Down 0.9%

CNR opened at $82.45 on Tuesday. The business has a 50 day simple moving average of $85.60 and a two-hundred day simple moving average of $90.72. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -67.58 and a beta of 0.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.70 and a quick ratio of 1.21. Core Natural Resources, Inc. has a one year low of $68.78 and a one year high of $114.80.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.13. The business had revenue of $899.48 million during the quarter, compared to analysts' expectations of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.The business's revenue was up 94.7% on a year-over-year basis. During the same quarter last year, the business posted $3.39 EPS. Analysts predict that Core Natural Resources, Inc. will post 2.45 EPS for the current year.

Core Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 29th. 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 presently -32.79%.

Analyst Ratings Changes

CNR has been the subject of a number of research reports. Weiss Ratings cut shares of Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. Zacks Research upgraded shares of Core Natural Resources from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 24th. B. Riley Financial reissued a "buy" rating on shares of Core Natural Resources in a research note on Thursday, April 30th. UBS Group cut their price target on shares of Core Natural Resources from $107.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised Core Natural Resources from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Core Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $112.50.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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