DFT Energy LP cut its position in shares of Continental Resources, Inc. (NYSE:CLR) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,000 shares of the oil and natural gas company’s stock after selling 55,000 shares during the quarter. Continental Resources accounts for 5.2% of DFT Energy LP’s portfolio, making the stock its 11th biggest holding. DFT Energy LP’s holdings in Continental Resources were worth $2,210,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in Continental Resources by 4,924.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock worth $163,000 after buying an additional 2,462 shares in the last quarter. Focused Wealth Management Inc acquired a new stake in Continental Resources during the third quarter worth about $171,000. Deprince Race & Zollo Inc. acquired a new stake in Continental Resources during the third quarter worth about $205,000. Jaffetilchin Investment Partners LLC acquired a new stake in Continental Resources during the third quarter worth about $212,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Continental Resources during the third quarter worth about $221,000. 21.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of CLR traded up $0.41 on Monday, hitting $46.82. The company’s stock had a trading volume of 34,386 shares, compared to its average volume of 2,708,475. The company has a market capitalization of $17.75 billion, a P/E ratio of 91.49, a PEG ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.92 and a quick ratio of 0.85. Continental Resources, Inc. has a fifty-two week low of $35.54 and a fifty-two week high of $71.95.
Continental Resources (NYSE:CLR) last announced its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The business had revenue of $1.28 billion for 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%. Continental Resources’s revenue was up 76.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, sell-side analysts anticipate that Continental Resources, Inc. will post 3.06 EPS for the current fiscal year.
CLR has been the topic of a number of recent research reports. Scotiabank reissued a “buy” rating and set a $78.00 target price on shares of Continental Resources in a research report on Thursday, September 27th. Morgan Stanley decreased their price objective on Continental Resources from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Royal Bank of Canada set a $81.00 price objective on Continental Resources and gave the company a “buy” rating in a report on Thursday, September 20th. ValuEngine raised Continental Resources from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the stock. Continental Resources presently has a consensus rating of “Buy” and an average price target of $70.45.
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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