Dynamic Technology Lab Private Ltd purchased a new stake in shares of Continental Resources, Inc. (NYSE:CLR) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,431 shares of the oil and natural gas company’s stock, valued at approximately $2,383,000.
Other hedge funds also recently made changes to their positions in the company. American International Group Inc. purchased a new position in Continental Resources during the fourth quarter valued at approximately $102,000. Rockefeller Capital Management L.P. purchased a new position in Continental Resources during the first quarter valued at approximately $135,000. Credit Agricole S A raised its position in Continental Resources by 85.7% during the first quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 1,200 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Continental Resources by 126.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock valued at $180,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in Continental Resources during the first quarter valued at approximately $240,000. Institutional investors own 22.43% of the company’s stock.
Several research analysts recently weighed in on the company. Zacks Investment Research cut Continental Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Stifel Nicolaus set a $66.00 price target on Continental Resources and gave the company a “buy” rating in a research report on Monday, April 23rd. Morgan Stanley lifted their price target on Continental Resources from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, May 3rd. Jefferies Financial Group set a $67.00 price target on Continental Resources and gave the company a “buy” rating in a research report on Tuesday, March 6th. Finally, LADENBURG THALM/SH SH boosted their price objective on Continental Resources to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 3rd. Eleven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $62.91.
Shares of CLR opened at $63.78 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.93 and a quick ratio of 0.85. Continental Resources, Inc. has a one year low of $29.08 and a one year high of $69.91. The company has a market cap of $23.40 billion, a P/E ratio of 125.06 and a beta of 1.27.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Continental Resources had a return on equity of 9.23% and a net margin of 28.60%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was up 66.5% on a year-over-year basis. equities analysts predict that Continental Resources, Inc. will post 3.15 EPS for the current year.
In related news, SVP Steven K. Owen sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,190,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellis L. Mccain sold 2,222 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $66.37, for a total value of $147,474.14. The disclosure for this sale can be found here. Insiders have sold 33,222 shares of company stock valued at $2,239,434 over the last quarter. 76.83% of the stock is owned by company insiders.
About Continental Resources
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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