Principal Financial Group Inc. Sells 8,703 Shares of Continental Resources, Inc. (CLR)
Principal Financial Group Inc. decreased its holdings in Continental Resources, Inc. (NYSE:CLR) by 56.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,718 shares of the oil and natural gas company’s stock after selling 8,703 shares during the period. Principal Financial Group Inc.’s holdings in Continental Resources were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Wesbanco Bank Inc. raised its stake in Continental Resources by 32.9% in the third quarter. Wesbanco Bank Inc. now owns 176,414 shares of the oil and natural gas company’s stock worth $6,812,000 after buying an additional 43,650 shares in the last quarter. Prudential Financial Inc. purchased a new position in Continental Resources in the third quarter worth $369,000. State of Tennessee Treasury Department grew its holdings in Continental Resources by 17.2% in the third quarter. State of Tennessee Treasury Department now owns 320,700 shares of the oil and natural gas company’s stock worth $12,382,000 after purchasing an additional 47,068 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in Continental Resources by 897.4% in the third quarter. State of Wisconsin Investment Board now owns 240,549 shares of the oil and natural gas company’s stock worth $9,288,000 after purchasing an additional 216,432 shares during the last quarter. Finally, Andra AP fonden grew its holdings in Continental Resources by 56.8% in the third quarter. Andra AP fonden now owns 43,600 shares of the oil and natural gas company’s stock worth $1,683,000 after purchasing an additional 15,800 shares during the last quarter. 22.59% of the stock is owned by institutional investors.
Several research firms have issued reports on CLR. Macquarie raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $53.57 to $55.00 in a report on Thursday. Credit Suisse Group began coverage on shares of Continental Resources in a report on Monday, December 11th. They issued an “outperform” rating and a $57.00 price target on the stock. ValuEngine raised shares of Continental Resources from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $45.00 price target on shares of Continental Resources in a report on Wednesday, November 22nd. Finally, TheStreet raised shares of Continental Resources from a “d+” rating to a “c” rating in a report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $46.60.
Shares of Continental Resources, Inc. (NYSE CLR) opened at $47.20 on Friday. The firm has a market cap of $17,709.87, a price-to-earnings ratio of 1,180.00 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. Continental Resources, Inc. has a 1-year low of $29.08 and a 1-year high of $53.57.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $726.74 million for the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. analysts predict that Continental Resources, Inc. will post 0.3 EPS for the current fiscal year.
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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