Core Natural Resources (NYSE:CNR) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Core Natural Resources (NYSE:CNR) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on CNR. Wall Street Zen downgraded Core Natural Resources from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings cut Core Natural Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, UBS Group boosted their price objective on Core Natural Resources from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Core Natural Resources presently has a consensus rating of “Moderate Buy” and an average target price of $113.75.

Core Natural Resources Trading Up 3.7%

Shares of NYSE:CNR opened at $88.52 on Monday. Core Natural Resources has a 12-month low of $63.36 and a 12-month high of $114.80. The company has a market capitalization of $4.49 billion, a PE ratio of -29.41 and a beta of 0.25. The business has a 50 day moving average of $94.98 and a two-hundred day moving average of $90.48. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 0.10.

Core Natural Resources (NYSE:CNR) last announced its quarterly earnings results on Thursday, February 12th. The energy company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.76). Core Natural Resources had a negative net margin of 3.68% and a negative return on equity of 4.05%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $996.54 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The company’s revenue was up 81.8% compared to the same quarter last year. As a group, analysts forecast that Core Natural Resources will post 2.1 EPS for the current year.

Core Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.10 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Core Natural Resources’s payout ratio is -13.29%.

Insider Activity

In other news, Director Richard A. Navarre sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $91.70, for a total value of $550,200.00. Following the completion of the sale, the director directly owned 18,034 shares in the company, valued at $1,653,717.80. The trade was a 24.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James A. Brock sold 40,760 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $101.15, for a total value of $4,122,874.00. Following the completion of the sale, the chief executive officer owned 100,000 shares of the company’s stock, valued at $10,115,000. This trade represents a 28.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,560 shares of company stock worth $5,118,890 over the last three months. 2.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Natural Resources

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Core Natural Resources by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,669,844 shares of the energy company’s stock worth $501,838,000 after purchasing an additional 39,557 shares in the last quarter. State Street Corp increased its position in shares of Core Natural Resources by 7.8% during the fourth quarter. State Street Corp now owns 3,707,442 shares of the energy company’s stock worth $328,146,000 after purchasing an additional 267,925 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Core Natural Resources during the fourth quarter worth approximately $86,297,000. Charles Schwab Investment Management Inc. increased its position in shares of Core Natural Resources by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,224 shares of the energy company’s stock worth $66,491,000 after purchasing an additional 40,383 shares in the last quarter. Finally, Magnolia Group LLC increased its position 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 worth $61,107,000 after purchasing an additional 17,500 shares in the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

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.