Louisiana State Employees Retirement System Makes New $2.38 Million Investment in Core Natural Resources, Inc. $CNR

Louisiana State Employees Retirement System bought a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,700 shares of the energy company’s stock, valued at approximately $2,377,000.

Other institutional investors have also recently made changes to their positions in the company. GeoSphere Capital Management LLC grew its stake in shares of Core Natural Resources by 41.7% in the fourth quarter. GeoSphere Capital Management LLC now owns 85,000 shares of the energy company’s stock worth $7,523,000 after acquiring an additional 25,000 shares during the period. Nwam LLC bought a new position in Core Natural Resources during the fourth quarter valued at approximately $3,112,000. Hosking Partners LLP lifted its position in Core Natural Resources by 211.5% during the fourth quarter. Hosking Partners LLP now owns 69,689 shares of the energy company’s stock valued at $6,168,000 after purchasing an additional 47,315 shares during the period. Victory Capital Management Inc. boosted its holdings in 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 worth $47,838,000 after purchasing an additional 12,515 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in Core Natural Resources by 6.1% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 302,720 shares of the energy company’s stock worth $26,794,000 after purchasing an additional 17,368 shares during the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Core Natural Resources Stock Performance

Shares of NYSE CNR opened at $79.45 on Tuesday. The firm has a 50 day moving average of $87.29 and a 200 day moving average of $91.46. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -65.12 and a beta of 0.14. Core Natural Resources, Inc. has a 12-month low of $64.57 and a 12-month high of $114.80.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings results on Thursday, May 7th. The energy company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.13. The business had revenue of $899.48 million for the quarter, compared to the consensus estimate of $1.06 billion. Core Natural Resources had a negative net margin of 1.49% and a negative return on equity of 1.69%. The company’s quarterly revenue was up 94.7% on a year-over-year basis. During the same period last year, the firm earned $3.39 earnings per share. On average, research analysts anticipate that Core Natural Resources, Inc. will post 2.45 earnings per share for the current year.

Core Natural Resources Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Core Natural Resources from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research upgraded Core Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 24th. UBS Group raised their price target on Core Natural Resources from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. B. Riley Financial reaffirmed a “buy” rating on shares of Core Natural Resources in a report on Thursday, April 30th. Finally, Weiss Ratings cut Core Natural Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Core Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

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.