Squarepoint Ops LLC Increases Holdings in Core Natural Resources, Inc. $CNR

Key Points

• Squarepoint Ops increased its Core Natural Resources stake by 42.3% in the second quarter, bringing its holdings to 135,181 shares valued at approximately $10.8 million. Institutional investors collectively own 86.54% of the company.
• Analyst sentiment is generally positive, with Core Natural Resources carrying a “Moderate Buy” consensus rating and an average price target of $115.00. Zacks upgraded the stock to “Strong Buy,” while UBS lowered its rating to “Neutral” but raised its target to $105.
• The company beat quarterly earnings expectations, reporting $2.51 in adjusted EPS versus the $0.60 consensus estimate and revenue of $1.14 billion. Core Natural Resources also declared a quarterly dividend of $0.10 per share, representing a 0.4% yield.

Squarepoint Ops LLC lifted its stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 42.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,181 shares of the energy company's stock after purchasing an additional 40,174 shares during the quarter. Squarepoint Ops LLC owned 0.27% of Core Natural Resources worth $10,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in CNR. Baird Financial Group Inc. boosted its stake in Core Natural Resources by 4.4% during the 2nd quarter. Baird Financial Group Inc. now owns 261,052 shares of the energy company's stock valued at $20,889,000 after purchasing an additional 10,911 shares during the last quarter. Allworth Financial LP raised its stake in shares of Core Natural Resources by 36.0% in the second quarter. Allworth Financial LP now owns 1,466 shares of the energy company's stock worth $117,000 after purchasing an additional 388 shares during the last quarter. Corient Private Wealth LP raised its stake in shares of Core Natural Resources by 14.3% in the second quarter. Corient Private Wealth LP now owns 6,227 shares of the energy company's stock worth $498,000 after purchasing an additional 780 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Core Natural Resources during the second quarter valued at $344,000. Finally, BTG Pactual Asset Management US LLC lifted its holdings in shares of Core Natural Resources by 38.0% during the second quarter. BTG Pactual Asset Management US LLC now owns 13,700 shares of the energy company's stock valued at $1,096,000 after purchasing an additional 3,773 shares in the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings upgraded Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Zacks Research raised Core Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Finally, UBS Group cut shares of Core Natural Resources from a "buy" rating to a "neutral" rating and upped their target price for the company from $101.00 to $105.00 in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $115.00.

Core Natural Resources Price Performance

Shares of CNR opened at $99.32 on Thursday. The firm has a market cap of $4.93 billion, a PE ratio of 49.91 and a beta of 0.17. The company has a current ratio of 1.83, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $89.46 and a two-hundred day simple moving average of $90.51. Core Natural Resources, Inc. has a 1-year low of $71.83 and a 1-year high of $114.80.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $0.60 by $1.91. Core Natural Resources had a return on equity of 0.03% and a net margin of 2.34%.The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. On average, equities analysts anticipate that Core Natural Resources, Inc. will post 2.96 EPS for the current year.

Core Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Monday, August 31st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st. Core Natural Resources's dividend payout ratio (DPR) is presently 20.10%.

Core Natural Resources 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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