Fmr LLC Has $1.01 Billion Stake in Continental Resources, Inc. (CLR)

Fmr LLC lessened its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,761,423 shares of the oil and natural gas company’s stock after selling 224,285 shares during the quarter. Fmr LLC’s holdings in Continental Resources were worth $1,007,910,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CLR. State of Alaska Department of Revenue raised its holdings in shares of Continental Resources by 35.2% during the second quarter. State of Alaska Department of Revenue now owns 9,950 shares of the oil and natural gas company’s stock valued at $644,000 after acquiring an additional 2,590 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Continental Resources during the second quarter valued at approximately $1,111,000. Meeder Asset Management Inc. raised its holdings in shares of Continental Resources by 1,275.4% during the second quarter. Meeder Asset Management Inc. now owns 20,397 shares of the oil and natural gas company’s stock valued at $1,321,000 after acquiring an additional 18,914 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Continental Resources by 4.5% during the second quarter. BNP Paribas Arbitrage SA now owns 200,661 shares of the oil and natural gas company’s stock valued at $12,995,000 after acquiring an additional 8,728 shares in the last quarter. Finally, ARP Americas LP raised its holdings in shares of Continental Resources by 10.6% during the second quarter. ARP Americas LP now owns 26,000 shares of the oil and natural gas company’s stock valued at $1,684,000 after acquiring an additional 2,500 shares in the last quarter. 22.72% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 76.83% of the stock is owned by company insiders.

CLR opened at $44.68 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 87.61, a PEG ratio of 1.19 and a beta of 1.46. Continental Resources, Inc. has a 12-month low of $43.53 and a 12-month high of $71.95.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.21 billion. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The firm’s quarterly revenue was up 76.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, equities analysts predict that Continental Resources, Inc. will post 3.17 earnings per share for the current year.

CLR has been the subject of a number of recent analyst reports. ValuEngine upgraded Continental Resources from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Scotiabank restated a “buy” rating and set a $78.00 target price on shares of Continental Resources in a report on Thursday, September 27th. Morgan Stanley decreased their target price on Continental Resources from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. Royal Bank of Canada set a $81.00 target price on Continental Resources and gave the company a “buy” rating in a report on Thursday, September 20th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $77.00 target price on shares of Continental Resources in a report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company. Continental Resources has an average rating of “Buy” and a consensus price target of $71.34.

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Continental Resources 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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