Ritholtz Wealth Management Buys New Position in Core Natural Resources, Inc. (NYSE:CNR)

Ritholtz Wealth Management acquired a new position in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,639 shares of the energy company's stock, valued at approximately $897,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Core Natural Resources by 82.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 222 shares of the energy company's stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Core Natural Resources by 226.7% in the fourth quarter. Jones Financial Companies Lllp now owns 245 shares of the energy company's stock valued at $35,000 after buying an additional 170 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Core Natural Resources in the fourth quarter valued at about $26,000. Illinois Municipal Retirement Fund raised its stake in Core Natural Resources by 2.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 10,680 shares of the energy company's stock valued at $1,508,000 after buying an additional 249 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in Core Natural Resources in the first quarter valued at about $25,000. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNR. UBS Group began coverage on Core Natural Resources in a research note on Wednesday, June 11th. They issued a "buy" rating and a $80.00 price target for the company. B. Riley reduced their price objective on Core Natural Resources from $136.00 to $119.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Finally, Benchmark reduced their price objective on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $120.80.

Insider Transactions at Core Natural Resources

In other news, Director Holly K. Koeppel sold 8,815 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $75.30, for a total transaction of $663,769.50. Following the completion of the transaction, the director now directly owns 13,348 shares of the company's stock, valued at approximately $1,005,104.40. This represents a 39.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.41% of the company's stock.

Core Natural Resources Stock Performance

CNR stock traded up $1.34 during trading on Thursday, hitting $74.89. 810,753 shares of the company traded hands, compared to its average volume of 740,747. The stock's 50-day simple moving average is $71.76 and its 200 day simple moving average is $96.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.89 and a quick ratio of 1.34. The company has a market cap of $3.94 billion, a PE ratio of 15.47 and a beta of 0.69. Core Natural Resources, Inc. has a 1 year low of $58.19 and a 1 year high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.74 by ($3.12). Core Natural Resources had a return on equity of 8.32% and a net margin of 4.29%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $964.15 million. On average, equities analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 0.57%. Core Natural Resources's dividend payout ratio is currently 8.26%.

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.