Northern Trust Corp Acquires 15,329 Shares of Continental Resources, Inc. (CLR)

Northern Trust Corp grew its holdings in Continental Resources, Inc. (NYSE:CLR) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 781,598 shares of the oil and natural gas company’s stock after acquiring an additional 15,329 shares during the period. Northern Trust Corp owned 0.21% of Continental Resources worth $50,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its position in Continental Resources by 16.9% in the second quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock worth $970,474,000 after acquiring an additional 2,170,030 shares during the period. BlackRock Inc. raised its position in Continental Resources by 5.6% in the second quarter. BlackRock Inc. now owns 4,829,027 shares of the oil and natural gas company’s stock worth $312,729,000 after acquiring an additional 256,614 shares during the period. Millennium Management LLC raised its position in Continental Resources by 269.1% in the second quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock worth $91,673,000 after acquiring an additional 1,032,069 shares during the period. Bank of America Corp DE raised its position in Continental Resources by 20.3% in the second quarter. Bank of America Corp DE now owns 1,345,658 shares of the oil and natural gas company’s stock worth $87,146,000 after acquiring an additional 226,626 shares during the period. Finally, Voya Investment Management LLC raised its position in Continental Resources by 2,976.3% in the second quarter. Voya Investment Management LLC now owns 825,169 shares of the oil and natural gas company’s stock worth $53,438,000 after acquiring an additional 798,346 shares during the period. Institutional investors and hedge funds own 22.53% of the company’s stock.

Shares of CLR stock opened at $60.45 on Friday. The firm has a market cap of $25.68 billion, a PE ratio of 118.53, a PEG ratio of 1.76 and a beta of 1.24. Continental Resources, Inc. has a one year low of $36.05 and a one year high of $71.95. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. On average, equities analysts forecast that Continental Resources, Inc. will post 3.16 EPS for the current fiscal year.

Several research analysts have weighed in on the stock. ValuEngine downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Continental Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Seaport Global Securities reiterated a “neutral” rating on shares of Continental Resources in a research report on Wednesday, July 25th. TD Securities assumed coverage on shares of Continental Resources in a research report on Thursday, July 5th. They issued a “hold” rating and a $73.00 price target on the stock. Finally, UBS Group decreased their price target on shares of Continental Resources from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $72.26.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 76.83% of the company’s stock.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

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Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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