Gateway Investment Advisers LLC lessened its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 302,390 shares of the oil and natural gas company’s stock after selling 5,436 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Continental Resources were worth $20,647,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CLR. Deprince Race & Zollo Inc. acquired a new stake in Continental Resources in the third quarter valued at approximately $205,000. Chesley Taft & Associates LLC acquired a new stake in Continental Resources in the third quarter valued at approximately $706,000. Iberiabank Corp acquired a new stake in Continental Resources in the third quarter valued at approximately $278,000. DNB Asset Management AS acquired a new stake in Continental Resources in the third quarter valued at approximately $801,000. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in Continental Resources in the third quarter valued at approximately $212,000. 22.53% of the stock is owned by institutional investors.
Shares of CLR opened at $60.93 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market cap of $25.68 billion, a PE ratio of 119.47, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24. Continental Resources, Inc. has a 12-month low of $36.05 and a 12-month high of $71.95.
Continental Resources (NYSE:CLR) last announced its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. Analysts anticipate that Continental Resources, Inc. will post 3.16 earnings per share for the current year.
Several analysts recently weighed in on CLR shares. Morgan Stanley reduced their target price on shares of Continental Resources from $97.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. ValuEngine raised shares of Continental Resources from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Citigroup cut their price objective on shares of Continental Resources from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 25th. Zacks Investment Research cut shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Barclays assumed coverage on shares of Continental Resources in a report on Wednesday, August 29th. They set an “overweight” rating and a $77.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $72.36.
In other news, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 76.83% of the company’s stock.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.
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