Teacher Retirement System of Texas grew its holdings in Continental Resources, Inc. (NYSE:CLR) by 300.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,115 shares of the oil and natural gas company’s stock after purchasing an additional 62,358 shares during the quarter. Teacher Retirement System of Texas’ holdings in Continental Resources were worth $5,383,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. bought a new stake in shares of Continental Resources in the 1st quarter valued at about $135,000. Credit Agricole S A raised its holdings in shares of Continental Resources by 85.7% in the 1st quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock valued at $153,000 after purchasing an additional 1,200 shares in the last quarter. Asset Management Advisors LLC bought a new stake in shares of Continental Resources in the 2nd quarter valued at about $201,000. Barings LLC bought a new stake in shares of Continental Resources in the 2nd quarter valued at about $216,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of Continental Resources in the 2nd quarter valued at about $238,000. Institutional investors and hedge funds own 23.24% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Continental Resources from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. LADENBURG THALM/SH SH boosted their price target on shares of Continental Resources to $80.00 and gave the company a “buy” rating in a report on Thursday, May 3rd. KLR Group reiterated a “buy” rating and set a $78.00 price objective on shares of Continental Resources in a research note on Monday. Stifel Nicolaus set a $66.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research note on Monday, April 23rd. Finally, B. Riley boosted their price objective on shares of Continental Resources from $70.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, June 11th. Twelve investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $68.65.
In related news, CEO Harold Hamm bought 136,000 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were bought at an average price of $65.30 per share, with a total value of $8,880,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 76.83% of the stock is currently owned by insiders.
NYSE:CLR opened at $62.85 on Tuesday. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 123.24, a P/E/G ratio of 1.34 and a beta of 1.28. Continental Resources, Inc. has a twelve month low of $32.08 and a twelve month high of $69.91. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10.
Continental Resources (NYSE:CLR) last released 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 for 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%. equities research analysts expect that Continental Resources, Inc. will post 3.17 earnings per share for the current year.
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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