Cramer Rosenthal Mcglynn LLC decreased its position in Continental Resources, Inc. (NYSE:CLR) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,167,132 shares of the oil and natural gas company’s stock after selling 11,845 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.31% of Continental Resources worth $45,063,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of CLR. Wesbanco Bank Inc. lifted its position in Continental Resources by 14.1% during the second quarter. Wesbanco Bank Inc. now owns 132,764 shares of the oil and natural gas company’s stock worth $4,293,000 after buying an additional 16,375 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Continental Resources by 12.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 8,269 shares of the oil and natural gas company’s stock worth $278,000 after buying an additional 902 shares during the period. Miller Howard Investments Inc. NY lifted its position in Continental Resources by 22.5% during the third quarter. Miller Howard Investments Inc. NY now owns 22,097 shares of the oil and natural gas company’s stock worth $853,000 after buying an additional 4,060 shares during the period. Ninepoint Partners LP purchased a new position in Continental Resources during the third quarter worth about $7,896,000. Finally, BNP Paribas Arbitrage SA lifted its position in Continental Resources by 362.8% during the second quarter. BNP Paribas Arbitrage SA now owns 171,270 shares of the oil and natural gas company’s stock worth $5,537,000 after buying an additional 134,260 shares during the period. 22.59% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on CLR shares. Scotiabank reduced their target price on Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Stifel Nicolaus set a $59.00 price objective on Continental Resources and gave the stock a “buy” rating in a report on Friday, August 25th. Piper Jaffray Companies restated a “buy” rating and issued a $41.00 price objective on shares of Continental Resources in a report on Friday, October 6th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, November 8th. Finally, Barclays increased their target price on Continental Resources from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $46.69.
Shares of Continental Resources, Inc. (CLR) opened at $47.81 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market capitalization of $18,186.38, a price-to-earnings ratio of 1,211.75 and a beta of 1.44. Continental Resources, Inc. has a 12 month low of $29.08 and a 12 month high of $58.50.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The company had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. During the same period last year, the firm earned ($0.22) EPS. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. equities research analysts expect that Continental Resources, Inc. will post 0.29 earnings per share for the current fiscal year.
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About Continental Resources
Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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