Rhumbline Advisers decreased its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 71,881 shares of the oil and natural gas company’s stock after selling 837 shares during the period. Rhumbline Advisers’ holdings in Continental Resources were worth $2,213,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Flinton Capital Management LLC acquired a new position in Continental Resources during the second quarter worth about $66,000. Denali Advisors LLC raised its stake in Continental Resources by 48.3% during the third quarter. Denali Advisors LLC now owns 59,300 shares of the oil and natural gas company’s stock worth $1,826,000 after acquiring an additional 19,300 shares in the last quarter. Dupont Capital Management Corp raised its stake in Continental Resources by 13.4% during the second quarter. Dupont Capital Management Corp now owns 33,779 shares of the oil and natural gas company’s stock worth $1,422,000 after acquiring an additional 3,979 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Continental Resources by 3.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,864 shares of the oil and natural gas company’s stock worth $541,000 after acquiring an additional 430 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Continental Resources during the second quarter worth about $68,000. 19.56% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on CLR shares. Morgan Stanley lowered their price objective on Continental Resources from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Wells Fargo & Co lowered their price objective on Continental Resources from $46.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Securities lowered their price objective on Continental Resources from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective (down previously from $60.00) on shares of Continental Resources in a research note on Wednesday, August 21st. Finally, Credit Suisse Group downgraded Continental Resources from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $34.00 in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.95.
Shares of CLR stock opened at $30.54 on Thursday. The business’s 50 day simple moving average is $29.65 and its 200 day simple moving average is $35.10. Continental Resources, Inc. has a one year low of $27.26 and a one year high of $52.03. The stock has a market capitalization of $11.79 billion, a PE ratio of 10.75, a PEG ratio of 1.32 and a beta of 1.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.81.
Continental Resources (NYSE:CLR) last announced its earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.10. Continental Resources had a return on equity of 12.49% and a net margin of 17.00%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue was down 13.9% on a year-over-year basis. As a group, research analysts expect that Continental Resources, Inc. will post 2.15 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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