JPMorgan Chase & Co. Increases Stake in Core Natural Resources, Inc. $CNR

JPMorgan Chase & Co. grew its stake in shares of Core Natural Resources, Inc. (NYSE:CNR) by 27.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 652,379 shares of the energy company’s stock after purchasing an additional 139,188 shares during the quarter. JPMorgan Chase & Co.’s holdings in Core Natural Resources were worth $54,461,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CNR. Oregon Public Employees Retirement Fund raised its holdings in Core Natural Resources by 1.1% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,596 shares of the energy company’s stock valued at $968,000 after buying an additional 121 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Core Natural Resources by 4.2% during the third quarter. AlphaQuest LLC now owns 3,085 shares of the energy company’s stock valued at $258,000 after acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Core Natural Resources by 10.0% during the third quarter. GAMMA Investing LLC now owns 1,414 shares of the energy company’s stock valued at $118,000 after acquiring an additional 128 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Core Natural Resources by 6.5% during the third quarter. PNC Financial Services Group Inc. now owns 2,367 shares of the energy company’s stock worth $198,000 after purchasing an additional 144 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Core Natural Resources by 18.5% in the third quarter. Smartleaf Asset Management LLC now owns 1,219 shares of the energy company’s stock worth $104,000 after purchasing an additional 190 shares during the last quarter. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Price Performance

CNR opened at $86.77 on Thursday. Core Natural Resources, Inc. has a 12-month low of $58.19 and a 12-month high of $103.50. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -28.83 and a beta of 0.34. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $92.14 and a two-hundred day simple moving average of $84.71.

Core Natural Resources (NYSE:CNR) last released its earnings results on Thursday, February 12th. The energy company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.76). Core Natural Resources had a negative return on equity of 4.05% and a negative net margin of 3.68%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $996.54 million. During the same period in the prior year, the company earned $1.04 earnings per share. The firm’s quarterly revenue was up 81.8% compared to the same quarter last year. Research analysts predict that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Core Natural Resources’s dividend payout ratio (DPR) is currently -13.29%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen lowered Core Natural Resources from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Zacks Research upgraded Core Natural Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark reissued a “buy” rating on shares of Core Natural Resources in a research report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Core Natural Resources in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.38.

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.