Waratah Capital Advisors Ltd. bought a new stake in Continental Resources, Inc. (NYSE:CLR) during the first quarter, HoldingsChannel reports. The institutional investor bought 9,428 shares of the oil and natural gas company’s stock, valued at approximately $422,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CLR. Norges Bank acquired a new position in Continental Resources in the fourth quarter valued at about $52,621,000. American Century Companies Inc. lifted its position in shares of Continental Resources by 142.6% during the fourth quarter. American Century Companies Inc. now owns 823,493 shares of the oil and natural gas company’s stock worth $33,096,000 after purchasing an additional 484,089 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Continental Resources by 275.4% during the first quarter. Bank of Montreal Can now owns 424,374 shares of the oil and natural gas company’s stock worth $18,999,000 after purchasing an additional 311,330 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Continental Resources by 26.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,220,703 shares of the oil and natural gas company’s stock worth $49,059,000 after purchasing an additional 257,350 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Continental Resources during the fourth quarter worth about $8,107,000. 21.24% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the stock. Morgan Stanley set a $61.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, May 2nd. Ifs Securities cut shares of Continental Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 23rd. ValuEngine raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, KeyCorp increased their price target on shares of Continental Resources from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Seven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and an average price target of $63.50.
In related news, CEO Harold Hamm purchased 883,977 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were bought at an average cost of $44.49 per share, for a total transaction of $39,328,136.73. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 1,675,805 shares of company stock worth $73,335,967 over the last quarter. 77.03% of the stock is currently owned by insiders.
NYSE:CLR traded up $0.78 during mid-day trading on Thursday, hitting $42.80. The stock had a trading volume of 31,245 shares, compared to its average volume of 2,431,575. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.45. Continental Resources, Inc. has a twelve month low of $35.54 and a twelve month high of $71.95. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 0.87.
Continental Resources (NYSE:CLR) last issued its earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. On average, equities analysts anticipate that Continental Resources, Inc. will post 2.75 EPS for the current year.
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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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