Raymond James Trust N.A. boosted its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,777 shares of the oil and natural gas company’s stock after purchasing an additional 387 shares during the quarter. Raymond James Trust N.A.’s holdings in Continental Resources were worth $285,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Continental Resources in the 4th quarter valued at approximately $52,621,000. American Century Companies Inc. increased its holdings in shares of Continental Resources by 142.6% in the 4th quarter. American Century Companies Inc. now owns 823,493 shares of the oil and natural gas company’s stock valued at $33,096,000 after acquiring an additional 484,089 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Continental Resources by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 769,765 shares of the oil and natural gas company’s stock valued at $30,937,000 after acquiring an additional 12,127 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Continental Resources by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 769,212 shares of the oil and natural gas company’s stock valued at $30,891,000 after acquiring an additional 18,662 shares during the last quarter. Finally, Bluestein R H & Co. increased its holdings in shares of Continental Resources by 141.9% in the 1st quarter. Bluestein R H & Co. now owns 433,331 shares of the oil and natural gas company’s stock valued at $19,400,000 after acquiring an additional 254,206 shares during the last quarter. Institutional investors own 20.14% of the company’s stock.
CLR stock traded up $0.94 during trading on Wednesday, reaching $37.99. 144,548 shares of the company’s stock were exchanged, compared to its average volume of 1,743,376. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. Continental Resources, Inc. has a 1-year low of $34.61 and a 1-year high of $71.95. The company has a fifty day simple moving average of $39.11. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.26 and a beta of 1.67.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%.
Continental Resources announced that its Board of Directors has authorized a stock buyback plan on Monday, June 3rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and natural gas company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have recently weighed in on CLR shares. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. BMO Capital Markets started coverage on Victoria Gold in a report on Thursday, July 11th. They issued an “outperform” rating for the company. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. KeyCorp started coverage on Southern in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Finally, Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-seven have assigned a buy rating to the company. Continental Resources presently has an average rating of “Buy” and an average target price of $61.32.
In other news, Director John T. Mcnabb II acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $39.88 per share, for a total transaction of $39,880.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Harold Hamm acquired 65,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was purchased at an average price of $42.71 per share, with a total value of $2,776,150.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 104,600 shares of company stock valued at $4,312,166 in the last quarter. 77.03% of the stock is currently owned by insiders.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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