KBC Group NV increased its stake in Continental Resources, Inc. (NYSE:CLR) by 156.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 310,509 shares of the oil and natural gas company’s stock after buying an additional 189,385 shares during the quarter. KBC Group NV owned about 0.08% of Continental Resources worth $18,305,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of Continental Resources by 12.8% in the fourth quarter. Amalgamated Bank now owns 9,189 shares of the oil and natural gas company’s stock valued at $487,000 after buying an additional 1,041 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Continental Resources by 17.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 10,406 shares of the oil and natural gas company’s stock valued at $551,000 after purchasing an additional 1,562 shares in the last quarter. Toronto Dominion Bank grew its stake in Continental Resources by 39.6% during the 4th quarter. Toronto Dominion Bank now owns 5,529 shares of the oil and natural gas company’s stock valued at $293,000 after purchasing an additional 1,568 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Continental Resources by 126.7% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock valued at $180,000 after purchasing an additional 1,900 shares in the last quarter. Finally, American International Group Inc. acquired a new stake in Continental Resources during the 4th quarter valued at approximately $102,000. Institutional investors and hedge funds own 22.65% of the company’s stock.
In related news, SVP Eric Spencer Eissenstat sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $56.02, for a total value of $560,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ellis L. Mccain sold 2,222 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $66.37, for a total value of $147,474.14. The disclosure for this sale can be found here. In the last three months, insiders sold 43,222 shares of company stock worth $2,799,634. Company insiders own 76.83% of the company’s stock.
Shares of Continental Resources traded down $0.77, hitting $64.26, during mid-day trading on Thursday, according to MarketBeat Ratings. The company had a trading volume of 1,426,864 shares, compared to its average volume of 2,377,265. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 126.00 and a beta of 1.27. Continental Resources, Inc. has a 12 month low of $29.08 and a 12 month high of $69.91. The company has a current ratio of 0.93, a quick ratio of 0.85 and a debt-to-equity ratio of 1.15.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Continental Resources had a return on equity of 9.23% and a net margin of 28.60%. The business’s revenue was up 66.5% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. equities analysts forecast that Continental Resources, Inc. will post 3.01 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a research note on Thursday. B. Riley raised their price objective on Continental Resources from $70.00 to $86.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley raised their price objective on Continental Resources from $83.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 24th. Citigroup lowered Continental Resources from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Monday, May 7th. They noted that the move was a valuation call. Finally, Royal Bank of Canada raised their price objective on Continental Resources to $71.00 and gave the company an “outperform” rating in a research note on Friday, May 4th. Eleven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $62.27.
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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