State Board of Administration of Florida Retirement System cut its position in Continental Resources, Inc. (NYSE:CLR – Get Rating) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,121 shares of the oil and natural gas company's stock after selling 8,312 shares during the period. State Board of Administration of Florida Retirement System's holdings in Continental Resources were worth $6,151,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its position in Continental Resources by 1.6% in the first quarter. Amalgamated Bank now owns 11,840 shares of the oil and natural gas company's stock valued at $726,000 after buying an additional 191 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Continental Resources by 18.9% in the second quarter. AdvisorNet Financial Inc now owns 1,320 shares of the oil and natural gas company's stock valued at $86,000 after buying an additional 210 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Continental Resources by 2.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,038 shares of the oil and natural gas company's stock valued at $493,000 after buying an additional 214 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Continental Resources by 3.7% in the first quarter. Geneos Wealth Management Inc. now owns 7,135 shares of the oil and natural gas company's stock valued at $437,000 after buying an additional 254 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Continental Resources by 5.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,517 shares of the oil and natural gas company's stock valued at $338,000 after buying an additional 270 shares in the last quarter. 13.41% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
CLR has been the subject of a number of research analyst reports. Mizuho boosted their target price on shares of Continental Resources from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Monday, October 24th. Raymond James downgraded shares of Continental Resources from an "outperform" rating to a "market perform" rating and set a $74.00 target price for the company. in a research note on Monday, October 24th. Morgan Stanley raised shares of Continental Resources from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $67.00 to $74.00 in a research note on Wednesday, October 19th. Scotiabank downgraded shares of Continental Resources from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, August 1st. Finally, Piper Sandler boosted their target price on shares of Continental Resources from $70.00 to $74.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $72.00.
Continental Resources Stock Up 0.2 %
Shares of NYSE CLR opened at $74.18 on Friday. The stock has a market cap of $26.93 billion, a P/E ratio of 7.54, a P/E/G ratio of 0.20 and a beta of 2.32. The firm has a 50 day moving average price of $70.79 and a 200 day moving average price of $67.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.20. Continental Resources, Inc. has a 52-week low of $40.75 and a 52-week high of $75.49.
Continental Resources (NYSE:CLR – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The oil and natural gas company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.10). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Continental Resources had a net margin of 40.29% and a return on equity of 43.58%. The firm's quarterly revenue was up 82.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 EPS. Analysts expect that Continental Resources, Inc. will post 11.25 EPS for the current year.
About Continental Resources
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Continental Resources, Inc is an independent oil producer engaged in the exploration, development, and production of crude oil and natural gas. The firm's operations include horizontal drilling and protecting groundwater. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.
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