Maverick Capital Ltd. Buys New Holdings in Core Natural Resources, Inc. $CNR

Key Points

• Maverick Capital Ltd. acquired a new stake in Core Natural Resources, Inc. ($CNR), purchasing 6,952 shares valued at approximately $536,000 during the first quarter.
• Institutional ownership is high, with 86.54% of the stock owned by institutional investors, indicating strong market confidence in the company.
• The company recently reported earnings of ($0.70) per share, missing estimates, despite revenue of $1.10 billion for the quarter.

Maverick Capital Ltd. acquired a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,952 shares of the energy company's stock, valued at approximately $536,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in Core Natural Resources in the first quarter valued at about $482,793,000. Dimensional Fund Advisors LP bought a new position in Core Natural Resources in the first quarter valued at approximately $225,045,000. American Century Companies Inc. acquired a new position in Core Natural Resources during the first quarter valued at approximately $123,526,000. Charles Schwab Investment Management Inc. acquired a new position in Core Natural Resources during the first quarter valued at approximately $48,630,000. Finally, Victory Capital Management Inc. bought a new stake in Core Natural Resources during the first quarter worth $42,950,000. 86.54% of the stock is currently owned by institutional investors.

Core Natural Resources Trading Up 6.5%

Shares of NYSE:CNR traded up $4.62 during mid-day trading on Friday, reaching $75.38. 690,001 shares of the company's stock were exchanged, compared to its average volume of 664,346. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 34.58 and a beta of 0.76. The business's fifty day moving average price is $73.92 and its 200-day moving average price is $72.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78. Core Natural Resources, Inc. has a twelve month low of $58.19 and a twelve month high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last announced its earnings results on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing the consensus estimate of $1.31 by ($2.01). The company had revenue of $1.10 billion for 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, research analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal 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 paid a $0.10 dividend. This represents a dividend yield of 56.0%. The ex-dividend date of this dividend is Friday, August 29th. Core Natural Resources's dividend payout ratio is currently 18.35%.

Analysts Set New Price Targets

A number of research firms have recently commented on CNR. UBS Group reissued a "buy" rating and set a $86.00 price target (up previously from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. B. Riley dropped their target price on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Benchmark reduced their price target 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. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $78.00 price objective (up from $67.00) on shares of Core Natural Resources in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.