Insider Selling: Continental Resources (CLR) CFO Sells $696,000.00 in Stock

Continental Resources (NYSE:CLR) CFO John D. Hart sold 10,000 shares of Continental Resources stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $69.60, for a total value of $696,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

John D. Hart also recently made the following trade(s):

  • On Thursday, March 15th, John D. Hart sold 15,000 shares of Continental Resources stock. The shares were sold at an average price of $53.13, for a total value of $796,950.00.

Continental Resources opened at $64.73 on Friday, according to Marketbeat.com. Continental Resources has a 1 year low of $29.08 and a 1 year high of $69.91. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.85 and a current ratio of 0.93. The stock has a market capitalization of $25.21 billion, a price-to-earnings ratio of 56.81 and a beta of 1.27.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. Continental Resources had a return on equity of 9.23% and a net margin of 28.60%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was up 66.5% on a year-over-year basis. sell-side analysts predict that Continental Resources will post 2.79 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Continental Resources by 6.1% during the first quarter. The Manufacturers Life Insurance Company now owns 15,559 shares of the oil and natural gas company’s stock worth $918,000 after acquiring an additional 899 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Continental Resources by 16.4% during the first quarter. Toronto Dominion Bank now owns 6,438 shares of the oil and natural gas company’s stock worth $379,000 after acquiring an additional 909 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Continental Resources by 8.8% during the first quarter. Xact Kapitalforvaltning AB now owns 11,321 shares of the oil and natural gas company’s stock worth $667,000 after acquiring an additional 915 shares during the last quarter. Amalgamated Bank grew its stake in shares of Continental Resources by 12.8% during the fourth 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 last quarter. Finally, Credit Agricole S A grew its stake in shares of Continental Resources by 85.7% during the first quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 22.54% of the company’s stock.

CLR has been the topic of several research reports. Royal Bank of Canada restated a “buy” rating and set a $61.00 price target on shares of Continental Resources in a research note on Friday, April 13th. Credit Suisse Group restated an “outperform” rating and set a $70.00 price target (up previously from $65.00) on shares of Continental Resources in a research note on Tuesday, February 20th. Stephens set a $86.00 price target on Continental Resources and gave the company a “buy” rating in a research note on Tuesday, April 24th. ValuEngine lowered Continental Resources from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $69.00 price target (down previously from $71.00) on shares of Continental Resources in a research note on Friday, February 16th. Twelve research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.63.

About Continental Resources

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.

Insider Buying and Selling by Quarter for Continental Resources (NYSE:CLR)

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