PNC Financial Services Group Inc. Buys New Stake in Core Natural Resources, Inc. $CNR

PNC Financial Services Group Inc. bought a new stake in Core Natural Resources, Inc. (NYSE:CNR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,934 shares of the energy company’s stock, valued at approximately $149,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new stake in Core Natural Resources in the 1st quarter valued at approximately $42,950,000. Bank of New York Mellon Corp purchased a new position in shares of Core Natural Resources during the 1st quarter worth $30,034,000. Pacer Advisors Inc. purchased a new position in shares of Core Natural Resources during the 1st quarter worth $23,003,000. Magnolia Group LLC acquired a new stake in shares of Core Natural Resources during the 1st quarter worth $22,899,000. Finally, Goehring & Rozencwajg Associates LLC acquired a new stake in shares of Core Natural Resources during the 1st quarter worth $20,729,000. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNR. UBS Group restated a “buy” rating and set a $86.00 price objective (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Benchmark lowered their target price on Core Natural Resources from $112.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Jefferies Financial Group restated a “hold” rating and set a $78.00 target price (up from $67.00) on shares of Core Natural Resources in a research note on Tuesday, August 5th. Finally, B. Riley lowered their target price on Core Natural Resources from $112.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.80.

Core Natural Resources Stock Performance

Shares of CNR stock opened at $71.08 on Tuesday. 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 one year low of $58.19 and a one year high of $134.59. The company’s 50-day simple moving average is $73.50 and its 200-day simple moving average is $74.77. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 32.61 and a beta of 0.66.

Core Natural Resources (NYSE:CNR) last issued its quarterly 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). Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. Equities analysts anticipate that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a yield of 57.0%. Core Natural Resources’s dividend payout ratio (DPR) is currently 18.35%.

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.