Virtu Financial LLC Sells 10,424 Shares of Continental Resources, Inc. (CLR)
Virtu Financial LLC cut its position in Continental Resources, Inc. (NYSE:CLR) by 48.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,300 shares of the oil and natural gas company’s stock after selling 10,424 shares during the quarter. Virtu Financial LLC’s holdings in Continental Resources were worth $599,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Continental Resources by 1.4% in the 4th quarter. BlackRock Inc. now owns 4,754,734 shares of the oil and natural gas company’s stock valued at $251,860,000 after purchasing an additional 64,943 shares during the last quarter. Jennison Associates LLC lifted its position in Continental Resources by 1.5% in the 4th quarter. Jennison Associates LLC now owns 1,631,882 shares of the oil and natural gas company’s stock valued at $86,441,000 after purchasing an additional 24,848 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Continental Resources by 101.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock valued at $57,798,000 after purchasing an additional 748,025 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Continental Resources in the 3rd quarter valued at about $52,973,000. Finally, Bank of New York Mellon Corp lifted its position in Continental Resources by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 986,457 shares of the oil and natural gas company’s stock valued at $52,253,000 after purchasing an additional 351,930 shares during the last quarter. Hedge funds and other institutional investors own 22.37% of the company’s stock.
Several analysts recently weighed in on CLR shares. Morgan Stanley lifted their price objective on shares of Continental Resources from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Royal Bank of Canada restated a “buy” rating and set a $52.00 price target on shares of Continental Resources in a research report on Wednesday, December 20th. KLR Group upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and set a $69.00 price target (down from $71.00) on shares of Continental Resources in a research report on Friday, February 16th. Finally, Scotiabank dropped their price target on shares of Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $55.46.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $978.63 million. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The business’s revenue was up 90.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. research analysts expect that Continental Resources, Inc. will post 2.16 earnings per share for the current fiscal year.
In other news, CEO Harold Hamm bought 99,028 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $50.26 per share, with a total value of $4,977,147.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Gary E. Gould sold 9,874 shares of Continental Resources stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total transaction of $502,092.90. The disclosure for this sale can be found here. Insiders sold a total of 52,874 shares of company stock worth $2,603,673 in the last ninety days. Corporate insiders own 76.87% 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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