Principal Financial Group Inc. Increases Position in Core Natural Resources, Inc. (NYSE:CNR)

Principal Financial Group Inc. increased its stake in shares of Core Natural Resources, Inc. (NYSE:CNR) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,794 shares of the energy company’s stock after purchasing an additional 2,581 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Core Natural Resources worth $12,398,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Core Natural Resources by 4.0% in the fourth quarter. Rhumbline Advisers now owns 46,028 shares of the energy company’s stock worth $6,500,000 after purchasing an additional 1,787 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Core Natural Resources by 40.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 87,739 shares of the energy company’s stock worth $12,555,000 after acquiring an additional 25,306 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Core Natural Resources by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the energy company’s stock worth $1,243,000 after acquiring an additional 100 shares in the last quarter. Financial Strategies Group Inc. lifted its position in Core Natural Resources by 15.0% during the fourth quarter. Financial Strategies Group Inc. now owns 3,145 shares of the energy company’s stock valued at $421,000 after acquiring an additional 411 shares during the last quarter. Finally, KBC Group NV boosted its stake in Core Natural Resources by 42.0% in the fourth quarter. KBC Group NV now owns 808 shares of the energy company’s stock valued at $114,000 after acquiring an additional 239 shares in the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CNR shares. Jefferies Financial Group raised Core Natural Resources from a “hold” rating to a “buy” rating and reduced their price target for the stock from $165.00 to $150.00 in a research report on Monday, January 6th. B. Riley decreased their price target on Core Natural Resources from $140.00 to $136.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com started coverage on Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating for the company. Piper Sandler upgraded shares of Core Natural Resources from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $165.00 to $150.00 in a report on Monday, January 6th. Finally, Benchmark reiterated a “buy” rating and issued a $112.00 target price on shares of Core Natural Resources in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.17.

Core Natural Resources Trading Down 2.7 %

Shares of NYSE:CNR opened at $73.22 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.05. Core Natural Resources, Inc. has a 52-week low of $72.97 and a 52-week high of $134.59. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 7.62 and a beta of 1.74. The business has a 50-day moving average price of $118.81 and a 200-day moving average price of $135.31.

Core Natural Resources (NYSE:CNR) last posted 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 company had revenue of $595.29 million during the quarter, compared to analyst estimates of $493.50 million. Equities analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. Core Natural Resources’s dividend payout ratio is presently 4.16%.

About Core Natural Resources

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.