Great Lakes Advisors LLC Acquires New Position in Core Natural Resources, Inc. (NYSE:CNR)

Great Lakes Advisors LLC acquired a new stake in Core Natural Resources, Inc. (NYSE:CNR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 15,785 shares of the energy company’s stock, valued at approximately $1,684,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Core Natural Resources by 159.5% during the third quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after purchasing an additional 404,249 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Core Natural Resources by 578.7% during the third quarter. Victory Capital Management Inc. now owns 265,133 shares of the energy company’s stock valued at $27,746,000 after purchasing an additional 226,069 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Core Natural Resources by 422.4% during the third quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock valued at $34,588,000 after purchasing an additional 202,425 shares during the last quarter. Trium Capital LLP bought a new position in shares of Core Natural Resources during the fourth quarter valued at approximately $21,109,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Core Natural Resources during the third quarter valued at approximately $9,828,000. 86.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on CNR. StockNews.com began coverage on Core Natural Resources in a report on Thursday, January 30th. They set a “hold” rating for the company. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $165.00 to $150.00 in a research report on Monday, January 6th. Benchmark reiterated a “buy” rating and set a $112.00 price objective on shares of Core Natural Resources in a research report on Tuesday, February 25th. Piper Sandler upgraded Core Natural Resources from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $165.00 to $150.00 in a research report on Monday, January 6th. Finally, B. Riley reduced their price objective on Core Natural Resources from $140.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.17.

Core Natural Resources Stock Performance

CNR opened at $74.32 on Friday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.73 and a beta of 1.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.38 and a quick ratio of 1.16. Core Natural Resources, Inc. has a 1-year low of $66.54 and a 1-year high of $134.59. The business has a 50 day moving average price of $103.91 and a two-hundred day moving average price of $131.27.

Core Natural Resources (NYSE:CNR) last released its earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $1.44. The firm had revenue of $595.29 million during the quarter, compared to the consensus estimate of $493.50 million. Core Natural Resources had a return on equity of 23.87% and a net margin of 12.81%. Research analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.10 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. Core Natural Resources’s dividend payout ratio (DPR) is 4.16%.

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.