• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    Amendment: SEC Form SC 13D/A filed by Peabody Energy Corporation

    9/24/24 5:01:12 PM ET
    $BTU
    Coal Mining
    Energy
    Get the next $BTU alert in real time by email
    SC 13D/A 1 form_sc13da-peabody.htm



    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549
     
     _____________________________________________
    SCHEDULE 13D
    Under the Securities Exchange Act of 1934
    (Amendment No. 1)*
     
     _____________________________________________
    Peabody Energy Corporation
    (Name of Issuer)
    Common Stock, par value $0.01 per share
    (Title of Class of Securities)
    704551100
    (CUSIP Number)
    Logan Moncrief
    Thomist Capital Management, LP
    3773 Richmond Ave., Suite 777
    Houston, TX 77046
    (832) 678-2412 
    with a copy to:
    Jason M. Daniel
    Akin Gump Strauss Hauer & Feld LLP
    2300 N. Field Street, Suite 1800
    Dallas, Texas 75201
    (214) 969-2800 
    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
    September 20, 2024
    (Date of Event Which Requires Filing of This Statement)
    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. ☐
     
     *
    The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

             
    CUSIP No. 704551100
     
    SCHEDULE 13D
     
     
     
                 
     1 
     
     NAME OF REPORTING PERSON
      Thomist Capital Management, LP
     2
     
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     (a) ☐  (b) ☐ 
     3
     
     SEC USE ONLY
     
     4
     
     SOURCE OF FUNDS
      AF
     5
     
     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
      ☐
     6
     
     CITIZENSHIP OR PLACE OF ORGANIZATION
      Texas
               
    NUMBER OF
    SHARES  BENEFICIALLY 
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH:
     
     
     7 
     SOLE VOTING POWER
     11,694,172 (1)
     
     8
     SHARED VOTING POWER
      0
     
     9
     SOLE DISPOSITIVE POWER
      11,694,172 (1)
     
    10
     SHARED DISPOSITIVE POWER
      0
                 
    11 
     
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
     11,694,172 (1)
    12
     
     CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
      ☐
    13
     
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      9.29% (2)
    14
     
     TYPE OF REPORTING PERSON
      PN, IA
     
    (1)
    Includes 5,300,000 shares of common stock, par value $0.01 per shares (the “Common Stock”) of Peabody Energy Corporation (the “Issuer”) underlying exchange-traded call options as described in Items 5 and 6 below.
    (2)
    Based on 125.9 million shares of Common Stock, of the Issuer outstanding as of August 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on August 8, 2024.

             
    CUSIP No. 704551100
     
    SCHEDULE 13D
     
     
     
                 
     1 
     
     NAME OF REPORTING PERSON
      Thomist Capital, LLC
     2
     
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     (a) ☐  (b) ☐ 
     3
     
     SEC USE ONLY 
     4
     
     SOURCE OF FUNDS
      AF
     5
     
     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
      ☐
     6
     
     CITIZENSHIP OR PLACE OF ORGANIZATION
     Texas
               
    NUMBER OF
    SHARES  BENEFICIALLY 
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH:
     
     
     7 
     SOLE VOTING POWER
      11,694,172 (1)
     
     8
     SHARED VOTING POWER
      0
     
     9
     SOLE DISPOSITIVE POWER
      11,694,172 (1)
     
    10
     SHARED DISPOSITIVE POWER
      0
                 
    11 
     
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
      11,694,172 (1)
    12
     
     CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
     ☐
    13
     
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      9.29% (2)
    14
     
     TYPE OF REPORTING PERSON
      OO, HC
     
    (1)
    Includes 5,300,000 shares of Common Stock of the Issuer underlying exchange-traded call options as described in Items 5 and 6 below.
    (2)
    Based on 125.9 million shares of Common Stock of the Issuer outstanding as of August 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024.

             
    CUSIP No. 704551100
     
    SCHEDULE 13D
     
     
     
                 
     1 
     
     NAME OF REPORTING PERSON
      The Thomist Fund, LP
     2
     
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     (a) ☐  (b) ☐ 
     3
     
     SEC USE ONLY 
     4
     
     SOURCE OF FUNDS
      WC
     5
     
     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
     ☐
     6
     
     CITIZENSHIP OR PLACE OF ORGANIZATION
      Delaware
               
    NUMBER OF
    SHARES  BENEFICIALLY 
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH:
     
     
     7 
     SOLE VOTING POWER
      5,988,919 (1)
     
     8
     SHARED VOTING POWER
     0
     
     9
     SOLE DISPOSITIVE POWER
     5,988,919 (1)
     
    10
     SHARED DISPOSITIVE POWER
     0
                 
    11 
     
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
      5,988,919 (1)
    12
     
     CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
     ☐
    13
     
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
     4.76% (2)
    14
     
     TYPE OF REPORTING PERSON
      PN
     
    (1)
    Includes 2,674,300 shares of Common Stock of the Issuer underlying exchange-traded call options as described in Items 5 and 6 below.
    (2)
    Based on 125.9 million shares of Common Stock of the Issuer outstanding as of August 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024.

             
    CUSIP No. 704551100
     
    SCHEDULE 13D
     
     
     
                 
     1 
     
     NAME OF REPORTING PERSON
      Brian Kuzma
     2
     
     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
     (a) ☐  (b) ☐ 
     3
     
     SEC USE ONLY
     
     4
     
     SOURCE OF FUNDS
      AF
     5
     
     CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
      ☐
     6
     
     CITIZENSHIP OR PLACE OF ORGANIZATION
      United States of America
               
    NUMBER OF
    SHARES  BENEFICIALLY 
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH:
     
     
     7 
     SOLE VOTING POWER
      11,694,172 (1)
     
     8
     SHARED VOTING POWER
      0
     
     9
     SOLE DISPOSITIVE POWER
      11,694,172 (1)
     
    10
     SHARED DISPOSITIVE POWER
      0
                 
    11 
     
     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
      11,694,172 (1)
    12
     
     CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
      ☐
    13
     
     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
      9.29% (2)
    14
     
     TYPE OF REPORTING PERSON
      IN, HC
     
    (1)
    Includes 5,300,000 shares of Common Stock of the Issuer underlying exchange-traded call options as described in Items 5 and 6 below.
    (2)
    Based on 125.9 million shares of Common Stock of the Issuer outstanding as of August 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 8, 2024.


    AMENDMENT NO. 1 TO SCHEDULE 13D
    The following constitutes Amendment No. 1 (“Amendment No. 1”) to the Schedule 13D filed with the Securities and Exchange Commission (“SEC”) by the Reporting Persons on August 20, 2024. This Amendment No. 1 amends and supplements the Schedule 13D as specifically set forth herein.
    All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.
    Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
    Item 3 is hereby amended and restated in its entirety to read as follows:
    The Fund used approximately $78,321,301 (excluding brokerage commissions) in the aggregate to purchase the shares of Common Stock and the options to purchase Common Stock held by it reported in this Schedule 13D. The Managed Accounts used approximately $70,199,572 (excluding brokerage commissions) in the aggregate to purchase the shares of Common Stock and the options to purchase Common Stock held by the Managed Accounts reported in this Schedule 13D.
    The source of the funds used to acquire the shares of Common Stock and options to purchase Common Stock reported herein was the working capital of the Fund and the Managed Accounts, which at any given time may include funds borrowed on margin in the ordinary course and on customary terms.  

    Item 4. PURPOSE OF TRANSACTION
    Item 4 is hereby supplemented and superseded, as the case may be, as follows:
    The shares of Common Stock and call options directly held by the Fund and the Managed Accounts and beneficially owned by the Reporting Persons reported herein were acquired for investment purposes in the ordinary course of business in the belief that the Common Stock is undervalued and represents an attractive investment opportunity.
    The Reporting Persons remain engaged in a constructive and collaborative dialogue with management and are encouraged by steps taken by management to unlock and accelerate value for shareholders.  The Jefferies Conference Investor Presentation from September 5, 2024 shows increasing commitment to the buyback and discloses the NAV of the Centurion asset.
    As previously disclosed, the Reporting Persons have made suggestions to the Issuer’s management team regarding operational and strategic opportunities to maximize shareholder value, including, but not limited to: (i) a shareholder return plan focused on share buybacks given the $1.45B of cash currently on the balance sheet, (ii) unlocking value in the Issuer’s Powder River Basin (PRB) asset, and (iii) selling down a stake in Centurion to free up cash flow for shareholder returns while simultaneously placing a strong valuation marker on the asset, and may pursue other plans or proposals that relate to or could result in any of the matters set forth in clauses (a)-(j) of Item 4 of Schedule 13D.  The Reporting Persons intend to have a dialog with the Issuer’s management regarding the above and may also speak with the board of directors (“Board”) of the Issuer, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other third parties with respect to the above.
    The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer's financial position, results and strategic direction, actions taken by the Issuer's management and the Board, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, acquiring additional shares of Common Stock and/or other equity, debt, notes, instruments, options or other securities of the Issuer (collectively, “Securities”) or disposing of some or all of the Securities beneficially owned by them, in public market or privately negotiated transactions; entering into financial instruments or other agreements that increase or decrease the Reporting Persons' economic exposure with respect to their investment in the Issuer and/or otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D.

    Item 5. INTEREST IN SECURITIES OF THE ISSUER
    Item 5 is hereby amended and restated in its entirety to read as follows:
    (a) – (b) The responses of the Reporting Persons to Items (7) through (11) and (13) of the cover pages of this Schedule 13D are incorporated herein by reference. As of the date hereof, the Manager, the GP and Mr. Kuzma beneficially own an aggregate of 11,694,172 shares of Common Stock, which shares of Common Stock may be deemed to be beneficially owned by each of the Manager, the GP and Mr. Kuzma, and which represent approximately 9.29% of the outstanding Common Stock. As of the date hereof, the Fund beneficially owns an aggregate of 5,988,919 shares of Common Stock, and which represent approximately 4.76% of the outstanding Common Stock. The number of shares beneficially owned above includes 5,300,000 shares that may be acquired through the exercise of American-style exchange-traded call options that are deemed to be beneficially owned by the Manager, the GP and Mr. Kuzma and 2,674,300 shares that may be acquired through the exercise of American-style exchange-traded call options that are directly held and deemed to be beneficially owned by the Fund. All percentages set forth herein are based on 125.9 million shares of common stock of the Issuer outstanding as of August 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.
    The Fund and the Managed Accounts have delegated to Manager voting and investment power over the securities held directly by the Funds and the Managed Accounts. As a result, each of the Manager, the GP, as the general partner of Manager, and Mr. Kuzma, as Managing Member of the GP, may be deemed to exercise voting and investment power over the shares of Common Stock directly held by the Fund and the Managed Accounts.
    (c) Information concerning transactions in the shares of Common Stock and options to purchase Common Stock effected by the Reporting Persons on behalf of the Fund and the Managed Accounts since the most recent filing of Schedule 13D is set forth in Schedule I hereto and is incorporated herein by reference.
    (d) Not applicable.
    (e) Not applicable.

    Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
    Item 6 is hereby amended and supplemented by the addition of the following:
    As of 5 p.m. New York City time on September 24, 2024, the Fund and the Managed Accounts currently have an aggregate long American-style exchange-traded call option position relating to 5,300,000 shares of Common Stock that expire on October 18, 2024 (the “October Calls”). The October Calls consist of options to purchase 5,300,000 shares of Common Stock with an exercise price of $27 per share. The Fund and the Managed Accounts may from time-to-time purchase and sell exchange-traded options contracts relating to shares of Common Stock.

    SIGNATURES
    After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set fothomirth in this statement is true, complete and correct.
    Date: September 24, 2024
     
         
    THOMIST CAPITAL MANAGEMENT, LP
     
    By: Thomist Capital, LLC, its general partner
       
    By:
     
    /s/ Brian Kuzma
     
     
    Name: Brian Kuzma
     
     
    Title: Managing Member
     
    THOMIST CAPITAL, LLC
       
    By:
     
    /s/ Brian Kuzma
     
     
    Name: Brian Kuzma
     
     
    Title: Managing Member
     
    THE THOMIST FUND, LP
     
    By: Thomist Capital, LLC, its general partner
       
    By:
     
    /s/ Brian Kuzma
     
     
    Name: Brian Kuzma
     
     
    Title: Managing Member
       
    By:
     
    /s/ Brian Kuzma
    BRIAN KUZMA


     Schedule I
    TRANSACTIONS IN SHARES OF COMMON STOCK BY THE REPORTING PERSONS
    The following table sets forth all transactions in the shares of Common Stock effected by each of the Reporting Persons (on behalf of the Funds) since the most recent filing of Schedule 13D. All such transactions were purchases or sales of shares of Common Stock or options to purchase Common Stock effected in the open market or through the exercise of options, and the table excludes commissions paid in per share prices.
    Instrument Traded
    Effecting Beneficial
    Ownership
     
    Trade Date
     
     
    Shares or
    Contracts
    Purchased
    (Sold)
     
     
    Price Per Share
    ($)
    or Contract(1)
     
    Trading Account
    Call Option
    (Exercise Price 30, Expiration October 18, 2024)
     
    8/27/2024
       
    (6,100) contracts relating to (610,000) shares
       
    0.0543
     
    The Fund
             
    (600) contracts relating to (60,000) shares
       
    0.0543
     
    Managed Account 1
             
    (300) contracts relating to (30,000) shares
       
    0.0543
     
    Managed Account 2
    Common Stock
     
    8/28/2024
       
    66,667
       
    23.2816
     
    Managed Account 1
             
    33,333
       
    23.2816
     
    Managed Account 2
    Common Stock
     
    8/28/2024
       
    33,333
       
    23.1327
     
    Managed Account 1
             
    16,667
       
    23.1327
     
    Managed Account 2
    Common Stock
     
    8/28/2024
       
    16,667
       
    23.0594
     
    Managed Account 1
             
    8,333
       
    23.0594
     
    Managed Account 2
    Common Stock
     
    8/28/2024
       
    16,667
       
    22.97
     
    Managed Account 1
             
    8,333
       
    22.97
     
    Managed Account 2
    Call Option
    (Exercise Price 30, Expiration October 18, 2024)
     
    8/29/2024
       
    (1,000) contracts relating to (100,000) shares
       
    0.05
     
    The Fund
             
    (667) contracts relating to (66,700) shares
       
    0.05
     
    Managed Account 1
             
    (333) contracts relating to (33,300) shares
       
    0.05
     
    Managed Account 2
    Common Stock
     
    8/29/2024
       
    35,533
       
    23.5853
     
    Managed Account 1
             
    17,767
       
    23.5853
     
    Managed Account 2
    Common Stock
     
    8/29/2024
       
    14,467
       
    23.5452
     
    Managed Account 1
             
    7,233
       
    23.5452
     
    Managed Account 2
    Common Stock
     
    8/29/2024
       
    16,667
       
    23.5613
     
    Managed Account 1
             
    8,333
       
    23.5613
     
    Managed Account 2
    Common Stock
     
    8/30/2024
       
    8,654
       
    23.5318
     
    The Fund
             
    5,008
       
    23.5318
     
    Managed Account 1
             
    2,504
       
    23.5318
     
    Managed Account 2
    Common Stock
     
    8/30/2024
       
    1,127
       
    23.4262
     
    The Fund
             
    652
       
    23.4262
     
    Managed Account 1
             
    326
       
    23.4262
     
    Managed Account 2
    Common Stock
     
    8/30/2024
       
    25,547
       
    23.341
     
    The Fund
             
    14,785
       
    23.341
     
    Managed Account 1
             
    7,397
       
    23.341
     
    Managed Account 2




    Call Option
    (Exercise Price 30, Expiration October 18, 2024)
     
    9/4/2024
       
    (500) contracts relating to (50,000) shares
       
    0.04
     
    The Fund
             
    (333) contracts relating to (33,300) shares
       
    0.04
     
    Managed Account 1
             
    (167) contracts relating to (16,700) shares
       
    0.04
     
    Managed Account 2
    Common Stock
     
    9/4/2024
       
    16,667
       
    22.18
     
    Managed Account 1
             
    8,333
       
    22.18
     
    Managed Account 2
    Common Stock
     
    9/4/2024
       
    16,667
       
    22.0166
     
    Managed Account 1
             
    8,333
       
    22.0166
     
    Managed Account 2
    Common Stock
     
    9/4/2024
       
    16,667
       
    22.0408
     
    Managed Account 1
             
    8,333
       
    22.0408
     
    Managed Account 2
    Common Stock
     
    9/4/2024
       
    16,667
       
    22.0219
     
    Managed Account 1
             
    8,333
       
    22.0219
     
    Managed Account 2
    Common Stock
     
    9/10/2024
       
    13,733
       
    20.5793
     
    Managed Account 1
             
    6,867
       
    20.5793
     
    Managed Account 2
    Common Stock
     
    9/10/2024
       
    33,333
       
    20.6482
     
    Managed Account 1
             
    16,667
       
    20.6482
     
    Managed Account 2
    Common Stock
     
    9/10/2024
       
    16,667
       
    20.797
     
    Managed Account 1
             
    8,333
       
    20.797
     
    Managed Account 2
    Common Stock
     
    9/11/2024
       
    49,200
       
    20.408
     
    The Fund
             
    32,800
       
    20.408
     
    Managed Account 1
             
    16,400
       
    20.408
     
    Managed Account 2

    (1) Prices reflected on a per share basis. Each option is subject to a 100 contract multiplier.

    Note that the 5,000 call options with an exercise price of $25 per share expired on September 20, 2024, without value.
    Get the next $BTU alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $BTU

    DatePrice TargetRatingAnalyst
    12/16/2024$26.00Market Perform → Outperform
    BMO Capital Markets
    6/7/2022$25.00 → $36.00Hold → Buy
    Jefferies
    3/9/2022$18.00 → $25.00Hold
    Jefferies
    10/29/2021$16.00Hold → Buy
    Benchmark
    10/29/2021$16.00Hold → Buy
    The Benchmark Company
    10/4/2021$15.00 → $22.00Neutral → Buy
    B. Riley Securities
    More analyst ratings