Wedge Capital Management L L P NC Lowers Stock Holdings in Core Natural Resources, Inc. $CNR

Key Points

• Wedge Capital Management L L P NC reduced its holdings in Core Natural Resources, Inc. by 38.1%, selling 14,990 shares during the second quarter, leaving them with 24,402 shares valued at around $1.7 million.
• Core Natural Resources recently reported a quarterly loss of ($0.70) earnings per share, which missed analysts' estimates by ($2.01), despite having revenue of $1.1 billion that surpassed forecasts.
• The company declared a dividend of $0.10 per share, resulting in a 56.0% dividend yield, with a payout ratio of 18.35% as of its last announcement.

Wedge Capital Management L L P NC reduced its position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) by 38.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,402 shares of the energy company's stock after selling 14,990 shares during the period. Wedge Capital Management L L P NC's holdings in Core Natural Resources were worth $1,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in shares of Core Natural Resources during the 1st quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Core Natural Resources during the 1st quarter valued at $29,000. Farther Finance Advisors LLC acquired a new position in shares of Core Natural Resources during the 1st quarter valued at $30,000. Whipplewood Advisors LLC acquired a new position in shares of Core Natural Resources during the 1st quarter valued at $31,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of Core Natural Resources during the 1st quarter valued at $33,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNR. B. Riley reduced their target price on shares of Core Natural Resources from $112.00 to $110.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. UBS Group lifted their target price on shares of Core Natural Resources from $86.00 to $89.00 and gave the company a "buy" rating in a report on Friday. Finally, Jefferies Financial Group restated a "hold" rating and set a $78.00 target price (up previously from $67.00) on shares of Core Natural Resources in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $106.40.

Core Natural Resources Trading Down 1.3%

Core Natural Resources stock opened at $75.01 on Tuesday. The firm has a 50 day simple moving average of $74.66 and a 200-day simple moving average of $72.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.25. The stock has a market capitalization of $3.86 billion, a PE ratio of 34.41 and a beta of 0.76. Core Natural Resources, Inc. has a 12-month low of $58.19 and a 12-month high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The energy company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of $1.31 by ($2.01). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%. As a group, equities research analysts expect that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Dividend Announcement

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

Insider Transactions at Core Natural Resources

In other Core Natural Resources news, Director Patrick A. Kriegshauser sold 3,043 shares of the stock in a transaction that occurred 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 sale, the director owned 23,348 shares in the company, valued at $1,799,430.36. This represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by 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.

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