Earnest Partners LLC boosted its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 9.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 680,511 shares of the oil and natural gas company’s stock after purchasing an additional 56,136 shares during the quarter. Earnest Partners LLC owned approximately 0.18% of Continental Resources worth $36,047,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in Continental Resources by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock valued at $433,000 after purchasing an additional 920 shares during the period. Amalgamated Bank boosted its position in Continental Resources by 12.8% during the 4th quarter. Amalgamated Bank now owns 9,189 shares of the oil and natural gas company’s stock worth $487,000 after acquiring an additional 1,041 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Continental Resources by 15.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,089 shares of the oil and natural gas company’s stock worth $351,000 after acquiring an additional 1,216 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Continental Resources by 35.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after acquiring an additional 1,261 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Continental Resources by 6.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the oil and natural gas company’s stock worth $885,000 after acquiring an additional 1,383 shares during the period. Institutional investors and hedge funds own 22.42% of the company’s stock.
In other news, SVP Gary E. Gould sold 9,874 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total transaction of $502,092.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John D. Hart sold 6,000 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 156,909 shares of company stock worth $7,846,156 and have sold 32,874 shares worth $1,645,673. 76.87% of the stock is owned by insiders.
Continental Resources (NYSE:CLR) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $978.63 million. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. Continental Resources’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) earnings per share. research analysts anticipate that Continental Resources, Inc. will post 2.35 EPS for the current fiscal year.
A number of research analysts have issued reports on the company. UBS Group assumed coverage on Continental Resources in a research report on Wednesday, March 7th. They set a “neutral” rating and a $55.00 price target for the company. Jefferies Group set a $67.00 price target on Continental Resources and gave the stock a “buy” rating in a research report on Tuesday, March 6th. Deutsche Bank reduced their price target on Continental Resources from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. KLR Group upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Friday, February 23rd. Finally, ValuEngine lowered Continental Resources from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Continental Resources currently has an average rating of “Buy” and an average target price of $55.66.
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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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