Wellington Management Group LLP Sells 119,235 Shares of Core Natural Resources, Inc. $CNR

Wellington Management Group LLP cut its stake in Core Natural Resources, Inc. (NYSE:CNR) by 37.1% in the 2nd quarter, Holdings Channel reports. The fund owned 201,816 shares of the energy company’s stock after selling 119,235 shares during the quarter. Wellington Management Group LLP’s holdings in Core Natural Resources were worth $16,149,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in Core Natural Resources in the second quarter valued at $104,000. Bank of New York Mellon Corp purchased a new position in shares of Core Natural Resources in the 2nd quarter worth about $26,071,000. Wedge Capital Management L L P NC boosted its holdings in shares of Core Natural Resources by 28.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 27,399 shares of the energy company’s stock worth $2,192,000 after purchasing an additional 6,139 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Core Natural Resources by 10.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,827 shares of the energy company’s stock valued at $146,000 after purchasing an additional 178 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in shares of Core Natural Resources by 6.2% during the 2nd quarter. Confluence Investment Management LLC now owns 23,555 shares of the energy company’s stock valued at $1,885,000 after purchasing an additional 1,379 shares during the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

Core Natural Resources Trading Down 0.2%

NYSE:CNR opened at $99.44 on Monday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 49.97 and a beta of 0.17. The company has a quick ratio of 1.32, a current ratio of 1.83 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $88.22 and a 200 day moving average of $90.28. Core Natural Resources, Inc. has a 52 week low of $70.59 and a 52 week high of $114.80.

Core Natural Resources (NYSE:CNR) last released its quarterly earnings data on Thursday, August 6th. The energy company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $1.91. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Core Natural Resources had a net margin of 2.34% and a return on equity of 0.03%. On average, research analysts predict that Core Natural Resources, Inc. will post 2.96 earnings per share for the current year.

Core Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Monday, August 31st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, August 31st. Core Natural Resources’s payout ratio is currently 20.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CNR shares. Weiss Ratings upgraded Core Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Zacks Research raised shares of Core Natural Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, UBS Group lowered shares of Core Natural Resources from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $101.00 to $105.00 in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.00.

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.