Canada Pension Plan Investment Board increased its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 48.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 459,320 shares of the oil and natural gas company’s stock after purchasing an additional 150,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Continental Resources were worth $29,746,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new stake in Continental Resources in the first quarter valued at $135,000. Credit Agricole S A lifted its stake in Continental Resources by 85.7% in 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 during the last quarter. Asset Management Advisors LLC acquired a new stake in Continental Resources in the second quarter valued at $201,000. Barings LLC acquired a new stake in Continental Resources in the second quarter valued at $216,000. Finally, Eqis Capital Management Inc. acquired a new stake in Continental Resources in the second quarter valued at $238,000. Institutional investors and hedge funds own 23.24% of the company’s stock.
In related news, CEO Harold Hamm acquired 136,000 shares of the company’s stock in a transaction dated Tuesday, May 29th. The shares were bought at an average cost of $65.30 per share, with a total value of $8,880,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 76.83% of the stock is owned by corporate insiders.
A number of analysts have commented on the stock. KLR Group reiterated a “buy” rating and issued a $78.00 price target on shares of Continental Resources in a research note on Monday. Morgan Stanley increased their price target on shares of Continental Resources from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. Bank of America increased their price target on shares of Continental Resources from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 13th. TD Securities increased their price target 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, Seaport Global Securities reiterated a “neutral” rating on shares of Continental Resources in a research note on Wednesday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $68.65.
Shares of CLR opened at $62.85 on Tuesday. The stock has a market capitalization of $23.69 billion, a PE ratio of 32.98, a P/E/G ratio of 1.34 and a beta of 1.28. Continental Resources, Inc. has a fifty-two week low of $32.08 and a fifty-two week high of $69.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. equities research analysts anticipate that Continental Resources, Inc. will post 3.17 EPS for the current fiscal year.
Continental Resources Company 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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