Hodges Capital Management Inc. grew its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 7.4% in the first quarter, Holdings Channel reports. The fund owned 14,600 shares of the oil and natural gas company’s stock after purchasing an additional 1,000 shares during the period. Hodges Capital Management Inc.’s holdings in Continental Resources were worth $654,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Rational Advisors LLC raised its holdings in shares of Continental Resources by 207.8% during the 4th quarter. Rational Advisors LLC now owns 674 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 455 shares in the last quarter. Private Capital Group LLC raised its holdings in shares of Continental Resources by 333.3% during the 4th quarter. Private Capital Group LLC now owns 832 shares of the oil and natural gas company’s stock valued at $33,000 after buying an additional 640 shares in the last quarter. Doyle Wealth Management purchased a new position in shares of Continental Resources during the 4th quarter valued at about $42,000. Legacy Advisors LLC purchased a new position in shares of Continental Resources during the 1st quarter valued at about $45,000. Finally, NuWave Investment Management LLC raised its holdings in shares of Continental Resources by 18.4% during the 4th quarter. NuWave Investment Management LLC now owns 1,663 shares of the oil and natural gas company’s stock valued at $67,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 21.54% of the company’s stock.
Shares of Continental Resources stock opened at $48.89 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.95 and a current ratio of 1.02. The company has a market capitalization of $18.38 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.47 and a beta of 1.46. Continental Resources, Inc. has a one year low of $35.54 and a one year high of $71.95.
Continental Resources (NYSE:CLR) last posted its earnings results on Monday, February 18th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.07). Continental Resources had a net margin of 20.99% and a return on equity of 18.28%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $0.41 earnings per share. Continental Resources’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Continental Resources, Inc. will post 2.17 EPS for the current fiscal year.
In other Continental Resources news, CEO Harold Hamm bought 883,977 shares of Continental Resources stock in a transaction dated Friday, February 22nd. The shares were purchased at an average cost of $44.49 per share, with a total value of $39,328,136.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 1,675,805 shares of company stock worth $73,335,967 over the last three months. Insiders own 76.83% of the company’s stock.
A number of brokerages recently weighed in on CLR. Jefferies Financial Group reissued a “buy” rating and set a $64.00 price objective on shares of Continental Resources in a report on Wednesday, January 30th. Ifs Securities reissued an “outperform” rating on shares of Continental Resources in a report on Sunday, February 3rd. Credit Suisse Group reissued a “buy” rating and set a $56.00 price objective on shares of Continental Resources in a report on Tuesday, February 19th. Barclays set a $62.00 price objective on Continental Resources and gave the company a “buy” rating in a report on Wednesday, January 16th. Finally, BMO Capital Markets raised Continental Resources from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.85.
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About Continental Resources
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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