Continental Resources, Inc. (CLR) Position Increased by M&T Bank Corp
M&T Bank Corp boosted its stake in Continental Resources, Inc. (NYSE:CLR) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,125 shares of the oil and natural gas company’s stock after buying an additional 85 shares during the period. M&T Bank Corp’s holdings in Continental Resources were worth $278,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of CLR. Mn Services Vermogensbeheer B.V. raised its stake in shares of Continental Resources by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,430 shares of the oil and natural gas company’s stock valued at $103,000 after buying an additional 119 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Continental Resources by 5.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,031 shares of the oil and natural gas company’s stock valued at $138,000 after buying an additional 150 shares during the last quarter. Winch Advisory Services LLC purchased a new stake in shares of Continental Resources during the first quarter valued at approximately $191,000. Heritage Trust Co purchased a new stake in shares of Continental Resources during the first quarter valued at approximately $200,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Continental Resources during the fourth quarter valued at approximately $220,000. 23.05% of the stock is owned by institutional investors.
Continental Resources, Inc. (NYSE CLR) opened at 33.01 on Friday. The stock’s 50 day moving average price is $39.23 and its 200-day moving average price is $45.90. The company’s market cap is $12.25 billion. Continental Resources, Inc. has a 1-year low of $32.53 and a 1-year high of $60.30.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%. On average, analysts forecast that Continental Resources, Inc. will post $0.41 earnings per share for the current year.
Several brokerages recently commented on CLR. Credit Suisse Group raised Continental Resources from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $57.00 in a report on Friday, May 5th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and set a $62.00 price target on shares of Continental Resources in a report on Friday, May 26th. Barclays PLC reissued a “buy” rating and set a $54.00 price target on shares of Continental Resources in a report on Sunday, May 7th. Wolfe Research began coverage on Continental Resources in a report on Thursday. They set an “outperform” rating and a $45.00 price target for the company. Finally, BMO Capital Markets cut their price target on Continental Resources from $13.00 to $11.50 in a report on Thursday, March 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $57.00.
In other news, CEO Harold Hamm purchased 32,985 shares of Continental Resources stock in a transaction dated Tuesday, March 28th. The shares were purchased at an average price of $42.90 per share, with a total value of $1,415,056.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have bought 111,435 shares of company stock worth $4,727,318. Corporate insiders own 76.97% of the company’s stock.
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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