Fulton Bank N.A. decreased its stake in Continental Resources, Inc. (NYSE:CLR – Get Rating) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,152 shares of the oil and natural gas company's stock after selling 170 shares during the period. Fulton Bank N.A.'s holdings in Continental Resources were worth $402,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Smead Capital Management Inc. grew its stake in shares of Continental Resources by 18.5% in the fourth quarter. Smead Capital Management Inc. now owns 6,578,234 shares of the oil and natural gas company's stock worth $294,442,000 after acquiring an additional 1,027,801 shares during the last quarter. BlackRock Inc. grew its stake in shares of Continental Resources by 6.5% in the first quarter. BlackRock Inc. now owns 3,118,624 shares of the oil and natural gas company's stock worth $191,266,000 after acquiring an additional 189,822 shares during the last quarter. State Street Corp grew its stake in shares of Continental Resources by 15.7% in the first quarter. State Street Corp now owns 3,023,689 shares of the oil and natural gas company's stock worth $185,443,000 after acquiring an additional 410,773 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Continental Resources by 29.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,414 shares of the oil and natural gas company's stock worth $80,855,000 after acquiring an additional 408,479 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Continental Resources by 1.4% in the first quarter. Bank of America Corp DE now owns 1,563,575 shares of the oil and natural gas company's stock worth $95,893,000 after acquiring an additional 21,413 shares during the last quarter. Institutional investors and hedge funds own 13.41% of the company's stock.
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Continental Resources Stock Performance
Shares of NYSE:CLR opened at $69.84 on Friday. Continental Resources, Inc. has a twelve month low of $40.04 and a twelve month high of $75.49. The firm has a market cap of $25.35 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.15 and a beta of 2.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.93 and a current ratio of 0.99. The business has a fifty day moving average of $67.97 and a 200-day moving average of $64.65.
Continental Resources (NYSE:CLR – Get Rating) last announced its earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.05 by $0.42. Continental Resources had a return on equity of 40.32% and a net
margin of 37.73%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $0.91 earnings per share. The firm's quarterly revenue was up 114.6% compared to the same quarter last year. On average, equities research analysts predict that Continental Resources, Inc. will post 12.42 EPS for the current fiscal year.
Continental Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were paid a $0.28 dividend. The ex-dividend date was Friday, August 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.60%. Continental Resources's dividend payout ratio (DPR) is presently 13.91%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on CLR. StockNews.com upgraded shares of Continental Resources from a "hold" rating to a "buy" rating in a research note on Friday. Cowen set a $70.00 target price on Continental Resources in a research report on Tuesday, July 19th. Wells Fargo & Company cut Continental Resources from an "overweight" rating to an "equal weight" rating and set a $82.00 target price for the company. in a research report on Wednesday, June 15th. Credit Suisse Group set a $78.00 target price on Continental Resources in a research report on Monday, June 20th. Finally, Scotiabank cut Continental Resources from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Continental Resources currently has an average rating of "Hold" and a consensus price target of $69.14.
Continental Resources Company Profile
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Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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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