Wedge Capital Management L L P NC Invests $3.04 Million in Core Natural Resources, Inc. (NYSE:CNR)

Wedge Capital Management L L P NC bought a new position in Core Natural Resources, Inc. (NYSE:CNR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 39,392 shares of the energy company's stock, valued at approximately $3,037,000. Wedge Capital Management L L P NC owned approximately 0.07% of Core Natural Resources at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CNR. Price T Rowe Associates Inc. MD acquired a new stake in shares of Core Natural Resources during the 4th quarter worth approximately $28,790,000. Rhumbline Advisers acquired a new stake in shares of Core Natural Resources during the 1st quarter worth approximately $9,261,000. GAMMA Investing LLC acquired a new stake in shares of Core Natural Resources during the 1st quarter worth approximately $7,472,000. Hosking Partners LLP boosted its position in shares of Core Natural Resources by 71.8% during the 4th quarter. Hosking Partners LLP now owns 76,361 shares of the energy company's stock worth $10,784,000 after purchasing an additional 31,910 shares during the period. Finally, New York Life Investment Management LLC purchased a new position in shares of Core Natural Resources during the 4th quarter worth approximately $3,991,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Core Natural Resources Trading Up 3.5%

Shares of NYSE:CNR traded up $2.48 during mid-day trading on Friday, reaching $73.60. 1,423,864 shares of the company were exchanged, compared to its average volume of 1,002,603. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.38 and a quick ratio of 1.16. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 7.66 and a beta of 0.69. The firm's 50-day simple moving average is $71.43 and its 200 day simple moving average is $99.03. Core Natural Resources, Inc. has a 1 year low of $58.19 and a 1 year high of $134.59.

Core Natural Resources (NYSE:CNR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported ($1.38) EPS for the quarter, missing the consensus estimate of $1.74 by ($3.12). Core Natural Resources had a net margin of 12.81% and a return on equity of 23.87%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $964.15 million. Equities research analysts forecast that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 0.57%. Core Natural Resources's dividend payout ratio is presently 8.26%.

Insider Buying and Selling at Core Natural Resources

In other Core Natural Resources news, Director Holly K. Koeppel sold 8,815 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $75.30, for a total value of $663,769.50. Following the completion of the transaction, the director now owns 13,348 shares of the company's stock, valued at $1,005,104.40. This trade represents a 39.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. B. Riley lowered their price objective on shares of Core Natural Resources from $136.00 to $119.00 and set a "buy" rating for the company in a research report on Friday, April 11th. UBS Group assumed coverage on shares of Core Natural Resources in a research report on Wednesday. They set a "buy" rating and a $80.00 price objective for the company. Finally, Benchmark lowered their price objective on shares of Core Natural Resources from $112.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Core Natural Resources has a consensus rating of "Moderate Buy" and a consensus target price of $120.80.

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.