Core Natural Resources (NYSE:CNR) Trading Down 4.4% on Insider Selling

by · The Cerbat Gem

Shares of Core Natural Resources, Inc. (NYSE:CNR – Get Free Report) fell 4.4% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $74.32 and last traded at $74.50. 75,519 shares changed hands during trading, a decline of 93% from the average session volume of 1,085,159 shares. The stock had previously closed at $77.92.

Specifically, Director Holly K. Koeppel sold 8,815 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $75.30, for a total value of $663,769.50. Following the transaction, the director now directly owns 13,348 shares in the company, valued at $1,005,104.40. The trade was a 39.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

CNR has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $112.00 price target on shares of Core Natural Resources in a report on Tuesday, February 25th. StockNews.com started coverage on Core Natural Resources in a research note on Thursday, January 30th. They issued a “hold” rating on the stock. Piper Sandler upgraded Core Natural Resources from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $165.00 to $150.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and lowered their price objective for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, B. Riley cut their target price on shares of 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.17.

Read Our Latest Stock Report on Core Natural Resources

Core Natural Resources Price Performance

The business has a fifty day moving average of $86.73 and a 200-day moving average of $126.14. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.61 billion, a PE ratio of 7.03 and a beta of 1.65.

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

Core Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Monday, March 3rd. Core Natural Resources’s dividend payout ratio is presently 4.16%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Core Natural Resources by 4.4% in the third quarter. Geode Capital Management LLC now owns 751,044 shares of the energy company’s stock worth $78,609,000 after buying an additional 31,310 shares in the last quarter. FMR LLC raised its holdings in shares of Core Natural Resources by 159.5% in the 3rd quarter. FMR LLC now owns 657,654 shares of the energy company’s stock valued at $90,862,000 after acquiring an additional 404,249 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Core Natural Resources during the 4th quarter valued at about $28,790,000. JPMorgan Chase & Co. grew its holdings in shares of Core Natural Resources by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 242,941 shares of the energy company’s stock worth $25,424,000 after purchasing an additional 611 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Core Natural Resources by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 190,202 shares of the energy company’s stock worth $26,278,000 after purchasing an additional 11,884 shares during the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

About Core Natural Resources

(Get Free Report)

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.

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