Wells Fargo & Company MN Acquires 163,935 Shares of Continental Resources, Inc. (CLR)
Wells Fargo & Company MN lifted its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 40.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 568,536 shares of the oil and natural gas company’s stock after buying an additional 163,935 shares during the quarter. Wells Fargo & Company MN owned about 0.15% of Continental Resources worth $21,951,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in CLR. Schwab Charles Investment Management Inc. lifted its stake in shares of Continental Resources by 11.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 222,557 shares of the oil and natural gas company’s stock valued at $7,196,000 after buying an additional 22,383 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Continental Resources by 21.5% during the 2nd quarter. First Trust Advisors LP now owns 267,225 shares of the oil and natural gas company’s stock valued at $8,639,000 after buying an additional 47,359 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Continental Resources by 12.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,269 shares of the oil and natural gas company’s stock valued at $278,000 after buying an additional 902 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Continental Resources during the 2nd quarter valued at approximately $780,000. Finally, SG Americas Securities LLC lifted its stake in shares of Continental Resources by 9.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,057 shares of the oil and natural gas company’s stock valued at $260,000 after buying an additional 696 shares in the last quarter. Institutional investors own 22.59% of the company’s stock.
A number of analysts recently commented on CLR shares. 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 note on Friday, November 10th. Stifel Nicolaus set a $59.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research note on Friday, August 25th. Piper Jaffray Companies restated a “buy” rating and set a $41.00 price target on shares of Continental Resources in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, November 8th. Finally, Barclays increased their target price on shares of Continental Resources from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. Continental Resources has an average rating of “Buy” and an average price target of $46.60.
In other news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 76.87% of the stock is owned by corporate insiders.
Continental Resources, Inc. (NYSE:CLR) opened at $47.20 on Monday. The company has a market cap of $17,709.87, a price-to-earnings ratio of 1,180.00 and a beta of 1.44. Continental Resources, Inc. has a twelve month low of $29.08 and a twelve month high of $53.57. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate 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 revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS. equities research analysts expect that Continental Resources, Inc. will post 0.3 earnings per share for the current fiscal year.
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About Continental Resources
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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