Core Natural Resources (NYSE:CNR) Releases Quarterly Earnings Results, Beats Estimates By $2.01 EPS

Core Natural Resources (NYSE:CNR) released its quarterly earnings results on Thursday. The energy company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of ($1.40) by $2.01, Zacks reports. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%.The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.05 billion. The business’s revenue was up 74.4% compared to the same quarter last year.

Core Natural Resources Trading Up 3.4%

CNR stock traded up $2.98 during mid-day trading on Friday, reaching $89.50. The company had a trading volume of 1,384,712 shares, compared to its average volume of 943,412. The firm has a 50 day moving average of $82.48 and a 200 day moving average of $76.00. 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 has a 12 month low of $58.19 and a 12 month high of $134.59. The company has a market capitalization of $4.61 billion, a PE ratio of 41.06 and a beta of 0.63.

Core Natural Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid 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 Friday, November 28th. Core Natural Resources’s dividend payout ratio (DPR) is currently -93.02%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. B. Riley dropped their price target on Core Natural Resources from $112.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, July 22nd. Zacks Research downgraded shares of Core Natural Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday. UBS Group boosted their price objective on shares of Core Natural Resources from $89.00 to $105.50 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Core Natural Resources from a “hold” rating to a “buy” rating and raised their target price for the stock from $90.00 to $125.00 in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Core Natural Resources in a research report on Wednesday, October 8th. Five 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.10.

Insider Transactions at Core Natural Resources

In related news, Director Patrick A. Kriegshauser sold 3,043 shares of Core Natural Resources stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.07, for a total transaction of $234,524.01. Following the transaction, the director directly owned 23,348 shares of the company’s stock, valued at $1,799,430.36. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard A. Navarre sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $82.20, for a total value of $411,000.00. Following the sale, the director directly owned 21,830 shares in the company, valued at approximately $1,794,426. The trade was a 18.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,043 shares of company stock valued at $740,524. 1.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Natural Resources

A number of institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in Core Natural Resources by 10.2% in the 2nd quarter. State Street Corp now owns 3,169,543 shares of the energy company’s stock worth $221,044,000 after purchasing an additional 294,312 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Core Natural Resources by 10,023.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 295,720 shares of the energy company’s stock valued at $20,624,000 after purchasing an additional 292,799 shares during the last quarter. First Trust Advisors LP raised its position in Core Natural Resources by 619.5% during the 2nd quarter. First Trust Advisors LP now owns 267,445 shares of the energy company’s stock worth $18,652,000 after buying an additional 230,275 shares during the last quarter. Bank of America Corp DE lifted its stake in Core Natural Resources by 48.9% during the 2nd quarter. Bank of America Corp DE now owns 585,137 shares of the energy company’s stock valued at $40,807,000 after acquiring an additional 192,136 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Core Natural Resources in the 1st quarter valued at $5,113,000. Institutional investors and hedge funds own 86.54% of the company’s stock.

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.