Summit Investment Advisors Inc. Invests $410,000 in Core Natural Resources, Inc. $CNR

Summit Investment Advisors Inc. bought a new stake in shares of Core Natural Resources, Inc. (NYSE:CNR) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 5,318 shares of the energy company’s stock, valued at approximately $410,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNR. SBI Securities Co. Ltd. purchased a new position in Core Natural Resources during the first quarter worth $29,000. US Bancorp DE bought a new stake in shares of Core Natural Resources in the 1st quarter worth about $47,000. Banque Transatlantique SA purchased a new position in shares of Core Natural Resources during the 1st quarter worth about $59,000. Smartleaf Asset Management LLC bought a new position in Core Natural Resources during the 1st quarter valued at about $69,000. Finally, Resources Management Corp CT ADV bought a new position in Core Natural Resources during the 1st quarter valued at about $88,000. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Core Natural Resources Trading Down 0.4%

CNR opened at $82.26 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average is $83.77 and its two-hundred day moving average is $76.39. The company has a market capitalization of $4.21 billion, a P/E ratio of 37.73 and a beta of 0.63. Core Natural Resources, Inc. has a 52 week low of $58.19 and a 52 week high of $134.59.

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

Core Natural Resources Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CNR. Jefferies Financial Group raised shares of Core Natural Resources from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $125.00 in a research note on Friday, October 10th. UBS Group upped their price objective on Core Natural Resources from $89.00 to $105.50 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Zacks Research lowered Core Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Benchmark reiterated a “buy” rating on shares of Core Natural Resources in a research report on Monday. Finally, B. Riley lowered their target price on shares of Core Natural Resources from $112.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $119.10.

Insider Activity

In other news, CAO John Rothka sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief accounting officer owned 10,307 shares of the company’s stock, valued at approximately $979,165. This represents a 8.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard A. Navarre sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $82.20, for a total transaction of $411,000.00. Following the transaction, the director owned 21,830 shares in the company, valued at approximately $1,794,426. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,043 shares of company stock worth $740,524. 1.41% of the stock is currently owned by corporate 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.