Tejara Capital Ltd Decreases Stake in Core Natural Resources, Inc. $CNR

Key Points

• Tejara Capital Ltd cut its stake in Core Natural Resources by 27.4% in the fourth quarter, selling 34,706 shares and leaving it with 91,883 shares valued at about $8.13 million.
• Core Natural Resources beat earnings expectations in its latest quarterly report, posting $0.41 EPS versus the $0.28 forecast, though revenue of $899.48 million fell short of estimates.
• The company declared a quarterly dividend of $0.10 per share, payable June 12, and analysts currently rate the stock a “Moderate Buy” with a consensus target price of $116.67.

Tejara Capital Ltd trimmed its holdings in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 27.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,883 shares of the energy company's stock after selling 34,706 shares during the quarter. Core Natural Resources comprises 1.9% of Tejara Capital Ltd's portfolio, making the stock its 9th biggest holding. Tejara Capital Ltd owned about 0.18% of Core Natural Resources worth $8,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Core Natural Resources during the third quarter worth approximately $4,369,000. Magnolia Group LLC grew its stake in shares of Core Natural Resources by 2.4% during the third quarter. Magnolia Group LLC now owns 732,000 shares of the energy company's stock valued at $61,107,000 after purchasing an additional 17,500 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Core Natural Resources by 2.2% in the third quarter. Victory Capital Management Inc. now owns 573,047 shares of the energy company's stock valued at $47,838,000 after purchasing an additional 12,515 shares in the last quarter. Old West Investment Management LLC acquired a new stake in shares of Core Natural Resources in the third quarter valued at approximately $8,724,000. Finally, Krilogy Financial LLC bought a new position in Core Natural Resources in the 3rd quarter worth approximately $1,031,000. Institutional investors and hedge funds own 86.54% of the company's stock.

Core Natural Resources Price Performance

CNR opened at $84.12 on Friday. The company has a fifty day moving average price of $94.60 and a two-hundred day moving average price of $90.01. The firm has a market capitalization of $4.24 billion, a PE ratio of -68.95 and a beta of 0.14. Core Natural Resources, Inc. has a 52 week low of $64.15 and a 52 week high of $114.80. 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 results on Thursday, May 7th. The energy company reported $0.41 earnings per share for the quarter, beating 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 company had revenue of $899.48 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business posted $3.39 EPS. The firm's quarterly revenue was up 94.7% on a year-over-year basis. As a group, analysts anticipate that Core Natural Resources, Inc. will post 1.7 earnings per share for the current year.

Core Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, May 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Core Natural Resources's dividend payout ratio (DPR) is -32.79%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CNR shares. Zacks Research raised Core Natural Resources from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. 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 upped their price target on Core Natural Resources from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, March 24th. B. Riley Financial reiterated a "buy" rating on shares of Core Natural Resources in a research report on Thursday, April 30th. Finally, Weiss Ratings raised Core Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Core Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.67.

Insider Transactions at Core Natural Resources

In related news, CAO John Rothka sold 3,800 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $91.62, for a total value of $348,156.00. Following the sale, the chief accounting officer directly owned 6,190 shares in the company, valued at $567,127.80. This trade represents a 38.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James A. Brock sold 40,760 shares of Core Natural Resources stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $101.15, for a total transaction of $4,122,874.00. Following the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at $10,115,000. The trade was a 28.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 51,560 shares of company stock worth $5,118,890. 2.49% of the stock is currently owned by company insiders.

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

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