Marnell Management LLC Purchases Shares of 68,143 Core Natural Resources, Inc. $CNR

Key Points

• Marnell Management LLC bought a new stake of 68,143 shares in Core Natural Resources during the fourth quarter, worth about $6.0 million. The position now makes up roughly 2.9% of Marnell’s holdings.
• Core Natural Resources reported better-than-expected quarterly EPS of $0.41 versus estimates of $0.28, though revenue of $899.5 million fell short of expectations. Analysts currently see the company earning 1.7 EPS for the full year.
• The stock remains supported by institutions, with 86.54% ownership held by hedge funds and other institutional investors. Analysts maintain a consensus rating of Moderate Buy with an average price target of $116.67.

Marnell Management LLC purchased a new stake in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 68,143 shares of the energy company's stock, valued at approximately $6,031,000. Core Natural Resources makes up about 2.9% of Marnell Management LLC's holdings, making the stock its 5th largest position. Marnell Management LLC owned about 0.13% of Core Natural Resources as of its most recent SEC filing.

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

Core Natural Resources Stock Down 0.3%

CNR opened at $91.92 on Monday. The business's 50-day simple moving average is $89.82 and its 200-day simple moving average is $91.24. 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, Inc. has a one year low of $64.57 and a one year high of $114.80. The stock has a market capitalization of $4.63 billion, a P/E ratio of -75.34 and a beta of 0.14.

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

Core Natural Resources Dividend Announcement

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

Insider Transactions at Core Natural Resources

In related news, CAO John Rothka sold 1,000 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $97.66, for a total transaction of $97,660.00. Following the transaction, the chief accounting officer owned 5,190 shares of the company's stock, valued at $506,855.40. This trade represents a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James A. Brock sold 40,760 shares of the firm's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $101.15, for a total value of $4,122,874.00. Following the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $10,115,000. This represents a 28.96% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.49% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CNR shares. UBS Group lifted their target price on Core Natural Resources from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Wall Street Zen upgraded Core Natural Resources from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Zacks Research cut Core Natural Resources from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. B. Riley Financial reiterated a "buy" rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $116.67.

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

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