Rhumbline Advisers decreased its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 94,387 shares of the oil and natural gas company’s stock after selling 1,569 shares during the quarter. Rhumbline Advisers’ holdings in Continental Resources were worth $5,000,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Jennison Associates LLC increased its position in shares of Continental Resources by 1.5% during the 4th quarter. Jennison Associates LLC now owns 1,631,882 shares of the oil and natural gas company’s stock worth $86,441,000 after purchasing an additional 24,848 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Continental Resources by 101.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock worth $57,798,000 after purchasing an additional 748,025 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Continental Resources during the 3rd quarter worth approximately $52,973,000. Dimensional Fund Advisors LP increased its position in shares of Continental Resources by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 864,563 shares of the oil and natural gas company’s stock worth $33,381,000 after purchasing an additional 33,777 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Continental Resources by 62.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 788,111 shares of the oil and natural gas company’s stock worth $30,429,000 after purchasing an additional 301,698 shares during the last quarter. 22.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Continental Resources, Inc. (CLR) opened at $53.07 on Friday. The firm has a market capitalization of $19,912.71, a price-to-earnings ratio of 102.06 and a beta of 1.45. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. Continental Resources, Inc. has a 1 year low of $29.08 and a 1 year high of $58.89.
Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $978.63 million. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. The company’s revenue was up 90.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. sell-side analysts anticipate that Continental Resources, Inc. will post 2.38 earnings per share for the current year.
In other news, President Jack H. Stark sold 12,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $49.05, for a total transaction of $588,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Harold Hamm purchased 25,886 shares of the stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of $50.59 per share, with a total value of $1,309,572.74. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 156,909 shares of company stock valued at $7,846,156 and have sold 32,874 shares valued at $1,645,673. Corporate insiders own 76.87% of the company’s stock.
A number of research firms recently weighed in on CLR. Cowen set a $58.00 target price on Continental Resources and gave the stock a “hold” rating in a report on Thursday, January 18th. Tudor Pickering lowered Continental Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. B. Riley began coverage on Continental Resources in a report on Monday, February 5th. They set a “buy” rating and a $78.00 target price on the stock. ValuEngine raised Continental Resources from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Finally, Seaport Global Securities raised Continental Resources from a “sell” rating to a “neutral” rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.66.
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Continental Resources Company Profile
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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