Parsons Capital Management Inc. RI decreased its holdings in Continental Resources, Inc. (NYSE:CLR) by 22.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,730 shares of the oil and natural gas company’s stock after selling 2,000 shares during the period. Parsons Capital Management Inc. RI’s holdings in Continental Resources were worth $301,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rational Advisors LLC raised its stake in shares of Continental Resources by 207.8% during the fourth quarter. Rational Advisors LLC now owns 674 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 455 shares during the period. Private Capital Group LLC increased its stake in shares of Continental Resources by 333.3% in the fourth quarter. Private Capital Group LLC now owns 832 shares of the oil and natural gas company’s stock worth $33,000 after buying an additional 640 shares during the last quarter. Legacy Advisors LLC acquired a new position in Continental Resources in the first quarter worth $45,000. Doyle Wealth Management acquired a new position in Continental Resources in the fourth quarter worth $42,000. Finally, NuWave Investment Management LLC boosted its holdings in Continental Resources by 18.4% in the fourth quarter. NuWave Investment Management LLC now owns 1,663 shares of the oil and natural gas company’s stock worth $67,000 after purchasing an additional 258 shares during the period. Hedge funds and other institutional investors own 21.24% of the company’s stock.
Shares of NYSE CLR traded down $1.11 during midday trading on Wednesday, reaching $42.05. 1,773,513 shares of the company traded hands, compared to its average volume of 2,402,443. Continental Resources, Inc. has a 52 week low of $35.54 and a 52 week high of $71.95. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 0.87. The stock has a market cap of $15.69 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.90 and a beta of 1.45.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Continental Resources, Inc. will post 2.77 earnings per share for the current fiscal year.
In related news, CEO Harold Hamm acquired 65,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average cost of $42.71 per share, for a total transaction of $2,776,150.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have purchased 1,740,805 shares of company stock worth $76,112,117. Company insiders own 77.03% of the company’s stock.
CLR has been the subject of a number of research reports. TD Securities decreased their price objective on shares of Continental Resources from $57.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, February 20th. Barclays reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Continental Resources in a report on Friday, April 12th. Zacks Investment Research raised shares of Continental Resources from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. ValuEngine downgraded shares of Continental Resources from a “hold” rating to a “sell” rating in a report on Friday, February 8th. Finally, Raymond James set a $80.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Seven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $63.50.
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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