Geode Capital Management LLC Sells 13,685 Shares of Core Natural Resources, Inc. $CNR

Key Points

• Geode Capital Management trimmed its Core Natural Resources stake by 1.1% in the fourth quarter, selling 13,685 shares and leaving it with 1,204,139 shares valued at about $106.6 million.
• Insider selling has also been notable, with Director Richard A. Navarre and CEO James A. Brock both selling shares recently; company insiders sold 51,560 shares total in the last quarter.
• Core Natural Resources reported strong year-over-year revenue growth of 94.7% in its latest quarter and beat EPS estimates, but analysts remain mixed, with an average Hold rating and a consensus price target of $116.67.

Geode Capital Management LLC reduced its position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,204,139 shares of the energy company's stock after selling 13,685 shares during the period. Geode Capital Management LLC owned 2.35% of Core Natural Resources worth $106,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNR. Royal Bank of Canada bought a new stake in Core Natural Resources in the 1st quarter valued at about $2,037,000. AQR Capital Management LLC purchased a new position in shares of Core Natural Resources in the first quarter valued at $796,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Core Natural Resources in the first quarter valued at $2,413,000. NewEdge Advisors LLC purchased a new position in shares of Core Natural Resources in the first quarter valued at $1,223,000. Finally, United Services Automobile Association purchased a new position in shares of Core Natural Resources in the first quarter valued at $256,000. 86.54% of the stock is currently owned by institutional investors.

Insider Activity at Core Natural Resources

In related news, Director Richard A. Navarre sold 6,000 shares of Core Natural Resources stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $91.70, for a total transaction of $550,200.00. Following the completion of the sale, the director owned 18,034 shares of the company's stock, valued at approximately $1,653,717.80. This trade represents a 24.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James A. Brock sold 40,760 shares of Core Natural Resources stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total value of $4,122,874.00. Following the sale, the chief executive officer directly owned 100,000 shares of the company's stock, valued at $10,115,000. This represents a 28.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 51,560 shares of company stock valued at $5,118,890. Company insiders own 2.49% of the company's stock.

Core Natural Resources Price Performance

NYSE:CNR opened at $93.14 on Friday. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -76.34 and a beta of 0.14. Core Natural Resources, Inc. has a 52-week low of $64.57 and a 52-week high of $114.80. The stock has a fifty day moving average of $91.42 and a 200 day moving average of $90.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.70.

Core Natural Resources (NYSE:CNR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The energy company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.13. The company had revenue of $899.48 million during the quarter, compared to analyst estimates of $1.06 billion. Core Natural Resources had a negative return on equity of 1.69% and a negative net margin of 1.49%.The firm's quarterly revenue was up 94.7% on a year-over-year basis. During the same quarter last year, the company earned $3.39 earnings per share. On average, research analysts expect that Core Natural Resources, Inc. will post 1.7 EPS for the current fiscal year.

Core Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.40 annualized dividend and a yield of 0.4%. Core Natural Resources's dividend payout ratio (DPR) is currently -32.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CNR. Weiss Ratings cut Core Natural Resources from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. B. Riley Financial reiterated a "buy" rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Wall Street Zen upgraded Core Natural Resources from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. UBS Group lifted their price target on Core Natural Resources from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Finally, Zacks Research cut Core Natural Resources from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Core Natural Resources has an average rating of "Hold" and an average price target of $116.67.

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. This segment includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine, and the central preparation plant.

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