Columbus Circle Investors Raises Position in Continental Resources (CLR)
Columbus Circle Investors increased its position in shares of Continental Resources (NYSE:CLR) by 22.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 512,631 shares of the oil and natural gas company’s stock after purchasing an additional 93,844 shares during the quarter. Columbus Circle Investors owned 0.14% of Continental Resources worth $30,220,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. American International Group Inc. acquired a new position in Continental Resources during the fourth quarter worth $102,000. Exane Derivatives acquired a new position in Continental Resources during the fourth quarter worth $113,000. Bellwether Investment Group LLC acquired a new position in Continental Resources during the fourth quarter worth $202,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Continental Resources by 126.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Calton & Associates Inc. acquired a new position in Continental Resources during the fourth quarter worth $200,000. 21.92% of the stock is owned by hedge funds and other institutional investors.
In other Continental Resources news, Director John T. Mcnabb II sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $68.36, for a total transaction of $205,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellis L. Mccain sold 2,222 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $66.37, for a total value of $147,474.14. The disclosure for this sale can be found here. In the last ninety days, insiders bought 156,909 shares of company stock valued at $7,846,156 and sold 48,222 shares valued at $2,900,584. 76.83% of the stock is owned by insiders.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and natural gas company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Continental Resources had a return on equity of 9.23% and a net margin of 28.60%. The business’s revenue for the quarter was up 66.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. research analysts anticipate that Continental Resources will post 2.69 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the company. Citigroup cut Continental Resources from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a report on Monday, May 7th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price objective on Continental Resources to $71.00 and gave the stock an “outperform” rating in a report on Friday, May 4th. Morgan Stanley lifted their price objective on Continental Resources from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, May 3rd. Ladenburg Thalmann boosted their price target on Continental Resources to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 3rd. Finally, ValuEngine raised Continental Resources from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Twelve equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Continental Resources presently has an average rating of “Buy” and an average target price of $61.13.
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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