BlackRock Inc. raised its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,829,027 shares of the oil and natural gas company’s stock after buying an additional 256,614 shares during the period. BlackRock Inc. owned about 1.28% of Continental Resources worth $312,729,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in CLR. Point72 Asset Management L.P. raised its stake in Continental Resources by 2,513.9% during the 1st quarter. Point72 Asset Management L.P. now owns 1,306,929 shares of the oil and natural gas company’s stock valued at $77,043,000 after buying an additional 1,256,929 shares during the last quarter. Cannell Peter B & Co. Inc. purchased a new stake in Continental Resources during the 1st quarter valued at $33,053,000. Slate Path Capital LP purchased a new stake in Continental Resources during the 1st quarter valued at $28,886,000. KBC Group NV raised its stake in Continental Resources by 113.6% during the 2nd quarter. KBC Group NV now owns 663,108 shares of the oil and natural gas company’s stock valued at $42,943,000 after buying an additional 352,599 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Continental Resources by 128.6% during the 2nd quarter. First Trust Advisors LP now owns 549,231 shares of the oil and natural gas company’s stock valued at $35,568,000 after buying an additional 309,005 shares during the last quarter. Institutional investors and hedge funds own 22.53% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Seaport Global Securities reiterated a “neutral” rating on shares of Continental Resources in a research note on Wednesday, July 25th. KLR Group reiterated a “buy” rating and set a $78.00 target price on shares of Continental Resources in a research note on Monday, August 20th. Jefferies Financial Group set a $83.00 target price on shares of Continental Resources and gave the company a “buy” rating in a research note on Friday, July 13th. TD Securities boosted their target price on shares of Continental Resources from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research lowered shares of Continental Resources from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Twelve research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.72.
Shares of Continental Resources stock opened at $60.37 on Friday. The firm has a market capitalization of $22.89 billion, a P/E ratio of 118.37, a PEG ratio of 1.31 and a beta of 1.30. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 1.10. Continental Resources, Inc. has a fifty-two week low of $35.68 and a fifty-two week high of $69.91.
Continental Resources (NYSE:CLR) last issued its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. sell-side analysts forecast that Continental Resources, Inc. will post 3.14 EPS for the current year.
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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