State of New Jersey Common Pension Fund D Lowers Holdings in Core Natural Resources, Inc. (NYSE:CNR)

State of New Jersey Common Pension Fund D lowered its holdings in Core Natural Resources, Inc. (NYSE:CNR) by 22.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,531 shares of the energy company’s stock after selling 3,576 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Core Natural Resources were worth $1,770,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNR. FMR LLC grew its stake in shares of Core Natural Resources by 159.5% in the third quarter. FMR LLC now owns 657,654 shares of the energy company’s stock worth $90,862,000 after acquiring an additional 404,249 shares in the last quarter. Victory Capital Management Inc. grew its stake in Core Natural Resources by 578.7% during the 3rd quarter. Victory Capital Management Inc. now owns 265,133 shares of the energy company’s stock worth $27,746,000 after purchasing an additional 226,069 shares in the last quarter. Holocene Advisors LP increased its holdings in Core Natural Resources by 422.4% during the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company’s stock worth $34,588,000 after purchasing an additional 202,425 shares during the period. Trium Capital LLP acquired a new stake in Core Natural Resources in the 4th quarter valued at about $21,109,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Core Natural Resources in the 3rd quarter valued at about $10,032,000. 86.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNR has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and set a $112.00 target price on shares of Core Natural Resources in a research note on Tuesday. StockNews.com began coverage on Core Natural Resources in a report on Thursday, January 30th. They issued a “hold” rating for the company. Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and cut their price objective for the stock from $165.00 to $150.00 in a report on Monday, January 6th. Piper Sandler upgraded shares of Core Natural Resources from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $165.00 to $150.00 in a research note on Monday, January 6th. Finally, B. Riley cut their target price on Core Natural Resources from $140.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.17.

Core Natural Resources Stock Performance

Shares of CNR stock opened at $74.17 on Wednesday. The stock’s 50-day moving average price is $123.12 and its 200 day moving average price is $136.57. The company has a quick ratio of 1.16, a current ratio of 1.38 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.18 billion, a PE ratio of 7.72 and a beta of 1.74. Core Natural Resources, Inc. has a 52-week low of $73.09 and a 52-week high of $134.59.

Core Natural Resources (NYSE:CNR) last released its earnings results on Thursday, February 20th. The energy company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $1.44. Core Natural Resources had a return on equity of 23.87% and a net margin of 12.81%. The business had revenue of $595.29 million for the quarter, compared to analyst estimates of $493.50 million. As a group, equities research analysts forecast that Core Natural Resources, Inc. will post 11.4 EPS for the current year.

Core Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. Core Natural Resources’s payout ratio is currently 4.16%.

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.