Strs Ohio Buys New Stake in Core Natural Resources, Inc. $CNR

Key Points

• Strs Ohio invested approximately $1.17 million in Core Natural Resources, acquiring 15,200 shares, marking a significant entry into the energy sector.
• In the first quarter, several large institutional investors, including Vanguard Group and Dimensional Fund Advisors, also purchased new positions in Core Natural Resources, showing strong interest from hedge funds.
• Core Natural Resources recently announced a $0.10 dividend per share with a yield of 56.0%, reflecting a strong commitment to returning value to shareholders amid mixed earnings performance.

Strs Ohio bought a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,200 shares of the energy company's stock, valued at approximately $1,172,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Villanova Investment Management Co LLC purchased a new stake in Core Natural Resources during the first quarter valued at approximately $637,000. Intech Investment Management LLC bought a new position in Core Natural Resources during the first quarter valued at $1,743,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Core Natural Resources during the first quarter valued at $5,113,000. Empowered Funds LLC bought a new position in Core Natural Resources during the first quarter valued at $2,387,000. Finally, United Services Automobile Association bought a new position in Core Natural Resources during the first quarter valued at $256,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Stock Performance

CNR stock traded down $1.04 during trading on Friday, reaching $76.16. The company had a trading volume of 1,123,762 shares, compared to its average volume of 926,244. The firm has a 50-day simple moving average of $74.65 and a 200-day simple moving average of $72.72. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 34.94 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.25 and a current ratio of 1.78. 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 announced its quarterly earnings data on Tuesday, August 5th. The energy company reported ($0.70) EPS for the quarter, missing the consensus estimate of $1.31 by ($2.01). Core Natural Resources had a net margin of 0.63% and a return on equity of 3.01%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.04 billion. As a group, sell-side analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Announces Dividend

The company also recently announced a dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a $0.10 dividend. This represents a dividend yield of 56.0%. The ex-dividend date was Friday, August 29th. Core Natural Resources's payout ratio is currently 18.35%.

Insider Activity

In related news, Director Patrick A. Kriegshauser sold 3,043 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.07, for a total value of $234,524.01. Following the completion of the transaction, the director directly owned 23,348 shares in the company, valued at $1,799,430.36. The trade was a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNR has been the subject of several research reports. B. Riley lowered their price objective on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. UBS Group increased their price objective on shares of Core Natural Resources from $86.00 to $89.00 and gave the company a "buy" rating in a research report on Friday. Finally, Jefferies Financial Group restated a "hold" rating and issued a $78.00 target price (up previously from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.40.

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.