Commonwealth Equity Services LLC increased its position in Continental Resources, Inc. (NYSE:CLR) by 43.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,573 shares of the oil and natural gas company’s stock after purchasing an additional 6,788 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Continental Resources were worth $395,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas raised its position in Continental Resources by 75.6% in the second quarter. Teacher Retirement System of Texas now owns 201,805 shares of the oil and natural gas company’s stock worth $3,538,000 after purchasing an additional 86,905 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Continental Resources in the 2nd quarter worth approximately $55,000. Paradigm Asset Management Co. LLC acquired a new position in shares of Continental Resources in the 2nd quarter worth approximately $58,000. Aigen Investment Management LP bought a new position in shares of Continental Resources during the 2nd quarter worth approximately $717,000. Finally, Virtu Financial LLC acquired a new stake in Continental Resources in the 2nd quarter valued at $706,000. Hedge funds and other institutional investors own 16.73% of the company’s stock.
In related news, Chairman Harold Hamm acquired 1,425,341 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average price of $17.57 per share, for a total transaction of $25,043,241.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 6,051,443 shares of company stock worth $101,417,211 over the last 90 days. 79.60% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on CLR shares. Mizuho boosted their target price on shares of Continental Resources from $8.00 to $15.00 in a research note on Friday, June 19th. Citigroup boosted their price target on shares of Continental Resources from $13.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Morgan Stanley raised their price objective on shares of Continental Resources from $8.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, August 21st. TD Securities boosted their target price on Continental Resources from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, August 4th. Finally, Siebert Williams Shank restated a “hold” rating and set a $17.00 price target on shares of Continental Resources in a research report on Friday, July 24th. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.89.
Shares of NYSE:CLR opened at $13.01 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.70 and a quick ratio of 0.59. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 44.00 and a beta of 3.41. The company has a 50 day moving average of $16.83 and a 200-day moving average of $14.82. Continental Resources, Inc. has a one year low of $6.90 and a one year high of $40.25.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). The business had revenue of $175.90 million during the quarter, compared to the consensus estimate of $250.07 million. Continental Resources had a negative net margin of 2.17% and a positive return on equity of 1.75%. Continental Resources’s revenue was down 85.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Continental Resources, Inc. will post -1.2 earnings per share for the current year.
Continental Resources Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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