Arizona State Retirement System Takes Position in Core Natural Resources, Inc. (NYSE:CNR)

Arizona State Retirement System bought a new position in shares of Core Natural Resources, Inc. (NYSE:CNR) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,320 shares of the energy company’s stock, valued at approximately $1,181,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. bought a new stake in Core Natural Resources in the 1st quarter valued at about $20,894,000. Amalgamated Bank bought a new stake in Core Natural Resources in the 1st quarter valued at about $1,120,000. Yousif Capital Management LLC bought a new stake in Core Natural Resources in the 1st quarter valued at about $1,419,000. Allspring Global Investments Holdings LLC bought a new stake in Core Natural Resources in the 1st quarter valued at about $11,600,000. Finally, State of Alaska Department of Revenue bought a new stake in Core Natural Resources in the 1st quarter valued at about $2,167,000. Institutional investors own 86.54% of the company’s stock.

Core Natural Resources Trading Up 1.8%

NYSE:CNR opened at $76.70 on Friday. The firm’s fifty day moving average is $70.95 and its 200-day moving average is $84.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.34 and a current ratio of 1.89. Core Natural Resources, Inc. has a 52 week low of $58.19 and a 52 week high of $134.59. The firm has a market cap of $4.04 billion, a P/E ratio of 15.85 and a beta of 0.68.

Core Natural Resources (NYSE:CNR) last issued its earnings results on Thursday, May 8th. The energy company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($3.12). Core Natural Resources had a return on equity of 8.32% and a net margin of 4.29%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $964.15 million. Equities analysts expect that Core Natural Resources, Inc. will post 11.4 earnings per share for the current year.

Core Natural Resources Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 0.57%. Core Natural Resources’s dividend payout ratio is currently 8.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group dropped their target price on shares of Core Natural Resources from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 3rd. B. Riley dropped their target price 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. Finally, Benchmark dropped their target price 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.40.

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.