Bank of Nova Scotia bought a new stake in Continental Resources, Inc. (NYSE:CLR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 38,000 shares of the oil and natural gas company’s stock, valued at approximately $2,461,000.

A number of other hedge funds also recently bought and sold shares of CLR. SG Americas Securities LLC lifted its stake in Continental Resources by 56.2% in the 1st quarter. SG Americas Securities LLC now owns 8,771 shares of the oil and natural gas company’s stock valued at $517,000 after buying an additional 3,157 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Continental Resources by 1.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 281,014 shares of the oil and natural gas company’s stock valued at $16,566,000 after buying an additional 4,761 shares in the last quarter. American International Group Inc. lifted its stake in Continental Resources by 297.4% in the 1st quarter. American International Group Inc. now owns 7,666 shares of the oil and natural gas company’s stock valued at $452,000 after buying an additional 5,737 shares in the last quarter. US Bancorp DE lifted its stake in Continental Resources by 13.8% in the 1st quarter. US Bancorp DE now owns 31,121 shares of the oil and natural gas company’s stock valued at $1,834,000 after buying an additional 3,784 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in Continental Resources by 729.2% in the 1st quarter. Federated Investors Inc. PA now owns 111,314 shares of the oil and natural gas company’s stock valued at $6,562,000 after buying an additional 97,889 shares in the last quarter. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Continental Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 26th. B. Riley upped their target price on Continental Resources from $70.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, June 11th. TD Securities assumed coverage on Continental Resources in a research note on Thursday, July 5th. They issued a “hold” rating and a $73.00 target price on the stock. Seaport Global Securities reaffirmed a “neutral” rating on shares of Continental Resources in a research note on Wednesday, July 25th. Finally, UBS Group cut their price target on Continental Resources from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, July 26th. Twelve research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $70.09.

CLR stock opened at $67.03 on Wednesday. The firm has a market cap of $23.40 billion, a PE ratio of 129.90, a PEG ratio of 1.34 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.89. Continental Resources, Inc. has a 52 week low of $36.05 and a 52 week high of $69.91.

Continental Resources (NYSE:CLR) last released its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Continental Resources had a return on equity of 14.01% and a net margin of 32.80%. analysts forecast that Continental Resources, Inc. will post 3.14 earnings per share for the current fiscal year.

Continental Resources 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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Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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