New York State Common Retirement Fund Sells 10,800 Shares of Core Natural Resources, Inc. (NYSE:CNR)

New York State Common Retirement Fund cut its position in shares of Core Natural Resources, Inc. (NYSE:CNR) by 60.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,052 shares of the energy company’s stock after selling 10,800 shares during the quarter. New York State Common Retirement Fund’s holdings in Core Natural Resources were worth $996,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System grew its stake in Core Natural Resources by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the energy company’s stock valued at $1,243,000 after purchasing an additional 100 shares in the last quarter. Fortitude Family Office LLC grew its stake in Core Natural Resources by 63.8% in the fourth quarter. Fortitude Family Office LLC now owns 267 shares of the energy company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. GAMMA Investing LLC grew its stake in Core Natural Resources by 340.5% in the fourth quarter. GAMMA Investing LLC now owns 185 shares of the energy company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. KBC Group NV grew its stake in Core Natural Resources by 43.3% in the third quarter. KBC Group NV now owns 569 shares of the energy company’s stock valued at $79,000 after purchasing an additional 172 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in Core Natural Resources by 10.3% in the third quarter. Sanctuary Advisors LLC now owns 2,554 shares of the energy company’s stock valued at $353,000 after purchasing an additional 238 shares in the last quarter. 86.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Core Natural Resources Stock Performance

NYSE:CNR opened at $70.01 on Tuesday. The stock has a market cap of $3.78 billion, a P/E ratio of 7.29 and a beta of 1.74. The stock has a 50 day simple moving average of $116.16 and a 200 day simple moving average of $134.69. The company has a current ratio of 1.38, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05. Core Natural Resources, Inc. has a 1-year low of $69.69 and a 1-year high of $134.59.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $1.63 by $1.44. The business had revenue of $595.29 million during the quarter, compared to analysts’ expectations of $493.50 million. Core Natural Resources had a return on equity of 23.87% and a net margin of 12.81%. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.40 annualized dividend and a yield of 0.57%. Core Natural Resources’s payout ratio is currently 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.