Federated Investors Inc. PA Sells 1,915 Shares of Continental Resources, Inc. (CLR)
Federated Investors Inc. PA decreased its position in Continental Resources, Inc. (NYSE:CLR) by 11.2% during the fourth quarter, Holdings Channel reports. The firm owned 15,187 shares of the company’s stock after selling 1,915 shares during the period. Federated Investors Inc. PA’s holdings in Continental Resources were worth $782,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CLR. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Continental Resources during the third quarter worth about $71,425,000. BlackRock Fund Advisors raised its stake in shares of Continental Resources by 2.0% in the third quarter. BlackRock Fund Advisors now owns 1,024,303 shares of the company’s stock worth $53,223,000 after buying an additional 19,744 shares during the period. Caymus Capital Partners L.P. raised its stake in shares of Continental Resources by 33.3% in the fourth quarter. Caymus Capital Partners L.P. now owns 1,018,000 shares of the company’s stock worth $52,468,000 after buying an additional 254,500 shares during the period. Morgan Stanley raised its stake in shares of Continental Resources by 79.2% in the third quarter. Morgan Stanley now owns 908,405 shares of the company’s stock worth $47,201,000 after buying an additional 401,560 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Continental Resources by 10.4% in the third quarter. Bank of New York Mellon Corp now owns 790,148 shares of the company’s stock worth $41,055,000 after buying an additional 74,246 shares during the period. Institutional investors own 23.17% of the company’s stock.
Shares of Continental Resources, Inc. (NYSE:CLR) opened at 45.00 on Tuesday. Continental Resources, Inc. has a 12-month low of $26.85 and a 12-month high of $60.30. The firm’s market capitalization is $16.68 billion. The stock has a 50 day moving average price of $45.93 and a 200 day moving average price of $49.62.
Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, February 22nd. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $549.70 million for the quarter, compared to analysts’ expectations of $583.45 million. Continental Resources had a negative net margin of 28.27% and a negative return on equity of 8.69%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.38) EPS. Equities analysts anticipate that Continental Resources, Inc. will post $0.56 earnings per share for the current fiscal year.
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A number of analysts recently weighed in on CLR shares. Scotiabank restated a “buy” rating and set a $68.00 target price on shares of Continental Resources in a research note on Thursday, February 23rd. JPMorgan Chase & Co. lowered shares of Continental Resources from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $57.00 in a research note on Thursday, December 8th. They noted that the move was a valuation call. KLR Group upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, January 31st. Deutsche Bank AG lowered shares of Continental Resources from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a research note on Thursday, December 8th. Finally, Instinet restated a “positive” rating on shares of Continental Resources in a research note on Monday, January 30th. Ten research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and an average price target of $50.98.
In related news, CFO John D. Hart sold 12,000 shares of Continental Resources stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $45.01, for a total value of $540,120.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 76.97% of the stock is owned by company insiders.
Continental Resources Company Profile
Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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