Bridgecreek Investment Management LLC raised its stake in shares of Continental Resources, Inc. (NYSE:CLR – Get Rating) by 85.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,250 shares of the oil and natural gas company's stock after purchasing an additional 4,250 shares during the period. Bridgecreek Investment Management LLC's holdings in Continental Resources were worth $604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Continental Resources during the first quarter valued at $26,000. Acadian Asset Management LLC purchased a new position in Continental Resources during the first quarter valued at $36,000. Atlas Capital Advisors LLC purchased a new position in Continental Resources during the first quarter valued at $47,000. Steward Partners Investment Advisory LLC lifted its holdings in Continental Resources by 507.8% during the first quarter. Steward Partners Investment Advisory LLC now owns 778 shares of the oil and natural gas company's stock valued at $48,000 after purchasing an additional 650 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Continental Resources during the second quarter valued at $65,000. 13.41% of the stock is owned by hedge funds and other institutional investors.
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Continental Resources Trading Up 0.0 %
Shares of CLR traded up $0.03 during trading on Friday, reaching $74.20. 3,288,666 shares of the company traded hands, compared to its average volume of 4,246,638. Continental Resources, Inc. has a twelve month low of $40.75 and a twelve month high of $75.49. The stock has a market cap of $26.94 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.20 and a beta of 2.32. The stock has a 50-day simple moving average of $71.28 and a 200-day simple moving average of $68.02. The company has a quick ratio of 1.15, a current ratio of 1.20 and a debt-to-equity ratio of 0.55.
Continental Resources (NYSE:CLR – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The oil and natural gas company reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.10). Continental Resources had a net
margin of 40.29% and a return on equity of 43.58%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. Continental Resources's revenue was up 82.4% on a year-over-year basis. On average, analysts anticipate that Continental Resources, Inc. will post 11.22 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have issued reports on CLR. Barclays decreased their price objective on shares of Continental Resources from $73.00 to $70.00 and set an "underweight" rating on the stock in a report on Wednesday, August 31st. Raymond James downgraded shares of Continental Resources from an "outperform" rating to a "market perform" rating and set a $74.00 price target on the stock. in a research note on Monday, October 24th. Mizuho raised their price target 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. Morgan Stanley raised shares of Continental Resources from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $67.00 to $74.00 in a research note on Wednesday, October 19th. Finally, Piper Sandler raised their price target 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 equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Continental Resources presently has a consensus rating of "Hold" and an average price target of $72.82.
Continental Resources Company Profile
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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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