Confluence Investment Management LLC Acquires 6,280 Shares of Core Natural Resources, Inc. $CNR

Key Points

• Confluence Investment Management LLC increased its stake in Core Natural Resources, Inc. by 71.0%, acquiring an additional 6,280 shares, bringing its total holdings to 15,124 shares valued at approximately $1,055,000.
• Core Natural Resources recently disclosed a dividend of $0.10 per share, with a yield of 56.0%, scheduled for payment to shareholders on September 15.
• Analysts have a consensus rating of "Moderate Buy" for Core Natural Resources, with an average price target of $105.80, despite recent earnings missing consensus estimates significantly.

Confluence Investment Management LLC lifted its holdings in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 71.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,124 shares of the energy company's stock after acquiring an additional 6,280 shares during the quarter. Confluence Investment Management LLC's holdings in Core Natural Resources were worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in shares of Core Natural Resources during the 1st quarter worth approximately $482,793,000. Dimensional Fund Advisors LP acquired a new stake in Core Natural Resources during the 1st quarter worth approximately $225,045,000. American Century Companies Inc. acquired a new stake in Core Natural Resources during the 1st quarter worth approximately $123,526,000. Charles Schwab Investment Management Inc. acquired a new stake in Core Natural Resources during the 1st quarter worth approximately $48,630,000. Finally, Victory Capital Management Inc. acquired a new stake in Core Natural Resources during the 1st quarter worth approximately $42,950,000. 86.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CNR shares. B. Riley dropped their price target on Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Jefferies Financial Group reissued a "hold" rating and set a $78.00 price target (up from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Finally, UBS Group reissued a "buy" rating and set a $86.00 price target (up from $78.00) on shares of Core Natural Resources in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $105.80.

Core Natural Resources Price Performance

Shares of NYSE CNR opened at $72.78 on Friday. The stock has a market capitalization of $3.75 billion, a PE ratio of 33.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.25. The business has a fifty day moving average price of $74.11 and a two-hundred day moving average price of $72.60. Core Natural Resources, Inc. has a fifty-two week low of $58.19 and a fifty-two week high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of $1.31 by ($2.01). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.04 billion. Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. As a group, equities analysts predict that Core Natural Resources, Inc. will post 11.4 earnings per share for the current fiscal year.

Core Natural Resources Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 56.0%. Core Natural Resources's payout ratio is currently 18.35%.

Core Natural Resources Company 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.

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