Confluence Investment Management LLC Purchases New Shares in Core Natural Resources, Inc. (NYSE:CNR)

Confluence Investment Management LLC bought a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,844 shares of the energy company's stock, valued at approximately $682,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNR. Barclays PLC raised its stake in shares of Core Natural Resources by 143.8% during the 3rd quarter. Barclays PLC now owns 51,602 shares of the energy company's stock worth $7,130,000 after buying an additional 30,437 shares during the last quarter. Blue Trust Inc. raised its position in Core Natural Resources by 187.7% during the fourth quarter. Blue Trust Inc. now owns 2,814 shares of the energy company's stock worth $389,000 after acquiring an additional 1,836 shares during the last quarter. KBC Group NV raised its position in Core Natural Resources by 42.0% during the fourth quarter. KBC Group NV now owns 808 shares of the energy company's stock worth $114,000 after acquiring an additional 239 shares during the last quarter. Financial Strategies Group Inc. raised 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 worth $421,000 after acquiring an additional 411 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Core Natural Resources by 1.1% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 86.54% of the company's stock.

Wall Street Analyst Weigh In

CNR has been the subject of several research reports. Benchmark cut their price objective on Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 9th. B. Riley cut their price target on Core Natural Resources from $136.00 to $119.00 and set a "buy" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.00.

Core Natural Resources Trading Down 1.7%

CNR traded down $1.21 during trading on Friday, hitting $69.29. The company's stock had a trading volume of 629,334 shares, compared to its average volume of 1,012,034. The firm's 50 day moving average price is $72.37 and its 200-day moving average price is $105.27. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.38 and a quick ratio of 1.16. The stock has a market cap of $3.65 billion, a PE ratio of 7.21 and a beta of 0.69. Core Natural Resources, Inc. has a twelve month low of $58.19 and a twelve month high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last released its earnings results on Thursday, May 8th. The energy company reported ($1.38) EPS for the quarter, missing the consensus estimate of $1.74 by ($3.12). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $964.15 million. Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. On average, analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

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

Insider Activity

In related news, Director Holly K. Koeppel sold 8,815 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were 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 owns 13,348 shares of the company's stock, valued at approximately $1,005,104.40. This represents a 39.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.02% of the company's stock.

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.