JB Capital Partners LP Buys New Position in Core Natural Resources, Inc. $CNR

Key Points

• JB Capital Partners LP has acquired a new stake in Core Natural Resources, Inc., purchasing 466,779 shares valued at approximately $35.99 million, making it the firm's fourth largest position.
• Core Natural Resources, Inc. recently missed earnings estimates with a reported ($0.70) earnings per share, compared to the expected $1.31, despite generating $1.10 billion in revenue for the quarter.
• The company declared a dividend of $0.10 per share, reflecting a dividend yield of 56.0%, with payment scheduled for September 15.

JB Capital Partners LP bought a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 466,779 shares of the energy company's stock, valued at approximately $35,989,000. Core Natural Resources accounts for 7.6% of JB Capital Partners LP's holdings, making the stock its 4th biggest position. JB Capital Partners LP owned 0.87% of Core Natural Resources as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CNR. Vanguard Group Inc. purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at about $482,793,000. Dimensional Fund Advisors LP purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at about $225,045,000. American Century Companies Inc. purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at about $123,526,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at about $48,630,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at about $42,950,000. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Core Natural Resources Price Performance

Shares of NYSE CNR opened at $72.22 on Friday. Core Natural Resources, Inc. has a twelve month low of $58.19 and a twelve month high of $134.59. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 33.13 and a beta of 0.66. The business has a 50 day simple moving average of $73.46 and a 200-day simple moving average of $73.40.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.04 billion. As a group, equities research analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Announces Dividend

The company also recently declared 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 payout ratio is 18.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group reiterated a "buy" rating and set a $86.00 target price (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. B. Riley dropped their price objective 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 restated a "hold" rating and set a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Finally, Benchmark dropped their price objective on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $105.80.

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.

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