Envestnet Asset Management Inc. Purchases New Position in Core Natural Resources, Inc. (NYSE:CNR)

Envestnet Asset Management Inc. acquired a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 215,957 shares of the energy company's stock, valued at approximately $16,650,000. Envestnet Asset Management Inc. owned approximately 0.40% of Core Natural Resources at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNR. Bank of New York Mellon Corp bought a new stake in Core Natural Resources during the 1st quarter worth about $30,034,000. Calamos Advisors LLC bought a new stake in Core Natural Resources during the 1st quarter worth about $7,382,000. Goehring & Rozencwajg Associates LLC bought a new stake in Core Natural Resources during the 1st quarter worth about $20,729,000. Principal Financial Group Inc. bought a new stake in Core Natural Resources during the 1st quarter worth about $20,894,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in Core Natural Resources during the 1st quarter worth about $892,000. 86.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark lowered their price objective on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group lowered their price objective on shares of Core Natural Resources from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Thursday, July 3rd. Finally, B. Riley lowered their price objective on shares of Core Natural Resources from $136.00 to $119.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.40.

Core Natural Resources Stock Performance

Shares of Core Natural Resources stock traded up $1.36 during trading on Friday, hitting $76.70. 1,085,725 shares of the stock were exchanged, compared to its average volume of 991,905. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.85 and a beta of 0.68. The company has a fifty day moving average price of $70.76 and a 200-day moving average price of $84.85. Core Natural Resources, Inc. has a 1-year low of $58.19 and a 1-year high of $134.59. The company has a current ratio of 1.89, a quick ratio of 1.34 and a debt-to-equity ratio of 0.08.

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

Core Natural Resources Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a yield of 0.57%. Core Natural Resources's dividend payout ratio (DPR) is currently 8.26%.

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.