Caxton Associates LP Invests $7.58 Million in Continental Resources, Inc. (CLR) Stock

Caxton Associates LP purchased a new position in Continental Resources, Inc. (NYSE:CLR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 111,000 shares of the oil and natural gas company’s stock, valued at approximately $7,579,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Continental Resources by 16.9% in the second quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock worth $970,474,000 after purchasing an additional 2,170,030 shares during the last quarter. Millennium Management LLC raised its stake in Continental Resources by 269.1% in the second quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock worth $91,673,000 after buying an additional 1,032,069 shares in the last quarter. Voya Investment Management LLC raised its stake in Continental Resources by 2,976.3% in the second quarter. Voya Investment Management LLC now owns 825,169 shares of the oil and natural gas company’s stock worth $53,438,000 after buying an additional 798,346 shares in the last quarter. Bridgeway Capital Management Inc. bought a new position in Continental Resources in the third quarter worth approximately $44,669,000. Finally, BlueMountain Capital Management LLC raised its stake in Continental Resources by 725.8% in the second quarter. BlueMountain Capital Management LLC now owns 704,318 shares of the oil and natural gas company’s stock worth $45,612,000 after buying an additional 619,027 shares in the last quarter. Institutional investors own 21.61% of the company’s stock.

A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Cowen assumed coverage on shares of Continental Resources in a research note on Thursday, November 29th. They issued a “market perform” rating for the company. Cfra reissued a “hold” rating on shares of Continental Resources in a research note on Friday, November 9th. Stephens assumed coverage on shares of Continental Resources in a research note on Thursday, December 6th. They issued an “overweight” rating and a $88.00 price objective for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $70.00 price objective on shares of Continental Resources in a research note on Monday, November 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $71.17.

Shares of CLR opened at $45.64 on Wednesday. The firm has a market cap of $17.76 billion, a PE ratio of 89.49, a P/E/G ratio of 0.69 and a beta of 1.48. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. Continental Resources, Inc. has a 1-year low of $43.53 and a 1-year high of $71.95.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The business’s quarterly revenue was up 76.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. Sell-side analysts anticipate that Continental Resources, Inc. will post 3.14 EPS for the current fiscal year.

In other news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction 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. 76.83% of the stock is owned by insiders.

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Continental Resources 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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Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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