Franklin Resources Inc. Sells 1,149 Shares of Core Natural Resources, Inc. $CNR

Franklin Resources Inc. cut its position in shares of Core Natural Resources, Inc. (NYSE:CNR) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,810 shares of the energy company’s stock after selling 1,149 shares during the quarter. Franklin Resources Inc. owned about 0.14% of Core Natural Resources worth $5,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in shares of Core Natural Resources in the 1st quarter worth about $482,793,000. Corebridge Financial Inc. bought a new stake in Core Natural Resources during the first quarter worth about $2,112,000. Independent Advisor Alliance purchased a new stake in Core Natural Resources in the first quarter worth about $846,000. Evergreen Capital Management LLC purchased a new stake in Core Natural Resources in the first quarter worth about $334,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Core Natural Resources during the first quarter valued at approximately $3,889,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group boosted their price target on Core Natural Resources from $89.00 to $105.50 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded Core Natural Resources from a “hold” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $125.00 in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Core Natural Resources in a research note on Tuesday, November 25th. Benchmark restated a “buy” rating on shares of Core Natural Resources in a report on Monday, November 10th. Finally, Zacks Research lowered Core Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $119.10.

Core Natural Resources Stock Down 3.2%

Core Natural Resources stock opened at $77.46 on Tuesday. Core Natural Resources, Inc. has a 12 month low of $58.19 and a 12 month high of $131.57. The stock has a fifty day simple moving average of $84.55 and a two-hundred day simple moving average of $76.92. The company has a current ratio of 1.78, a quick ratio of 1.25 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 35.53 and a beta of 0.63.

Core Natural Resources (NYSE:CNR) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.40) by $2.01. Core Natural Resources had a return on equity of 3.01% and a net margin of 0.63%.The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.05 billion. The firm’s revenue was up 74.4% on a year-over-year basis. Equities analysts predict that Core Natural Resources, Inc. will post 11.4 EPS for the current fiscal year.

Core Natural Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 28th. This represents a $0.40 annualized dividend and a yield of 0.5%. Core Natural Resources’s dividend payout ratio is currently -93.02%.

Insider Activity

In other news, Director Patrick A. Kriegshauser sold 3,043 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.07, for a total transaction of $234,524.01. Following the sale, the director owned 23,348 shares of the company’s stock, valued at $1,799,430.36. This trade represents a 11.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard A. Navarre sold 5,000 shares of Core Natural Resources stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the completion of the sale, the director owned 21,830 shares of the company’s stock, valued at $1,794,426. This represents a 18.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,043 shares of company stock valued at $740,524 in the last 90 days. 1.41% of the stock is currently owned by insiders.

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.