Van ECK Associates Corp raised its holdings in Continental Resources, Inc. (NYSE:CLR – Get Rating) by 1,052.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,431 shares of the oil and natural gas company's stock after buying an additional 2,220 shares during the quarter. Van ECK Associates Corp's holdings in Continental Resources were worth $159,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Continental Resources by 6.5% in the 1st quarter. BlackRock Inc. now owns 3,118,624 shares of the oil and natural gas company's stock valued at $191,266,000 after buying an additional 189,822 shares during the period. State Street Corp grew its holdings in Continental Resources by 15.7% in the 1st quarter. State Street Corp now owns 3,023,689 shares of the oil and natural gas company's stock valued at $185,443,000 after buying an additional 410,773 shares during the period. Bank of America Corp DE grew its holdings in Continental Resources by 1.4% in the 1st quarter. Bank of America Corp DE now owns 1,563,575 shares of the oil and natural gas company's stock valued at $95,893,000 after buying an additional 21,413 shares during the period. First Trust Advisors LP grew its holdings in shares of Continental Resources by 157.6% during the 1st quarter. First Trust Advisors LP now owns 1,281,391 shares of the oil and natural gas company's stock worth $78,588,000 after purchasing an additional 784,017 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Continental Resources by 64.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,017,324 shares of the oil and natural gas company's stock worth $62,392,000 after purchasing an additional 399,111 shares during the period. Hedge funds and other institutional investors own 13.41% of the company's stock.
Get Continental Resources alerts:Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Barclays decreased their target price on Continental Resources from $73.00 to $70.00 and set an "underweight" rating for the company in a report on Wednesday, August 31st. Piper Sandler boosted their target price on Continental Resources from $70.00 to $74.00 and gave the stock an "underweight" rating in a report on Tuesday, October 18th. Morgan Stanley upgraded 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 report on Wednesday, October 19th. StockNews.com assumed coverage on Continental Resources in a report on Wednesday, October 12th. They set a "hold" rating for the company. Finally, Raymond James cut Continental Resources from an "outperform" rating to a "market perform" rating and set a $74.00 target price for the company. in a report on Monday, October 24th. Two equities research 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 data from MarketBeat, Continental Resources currently has a consensus rating of "Hold" and an average price target of $72.00.
Continental Resources Stock Performance
Shares of CLR opened at $74.15 on Friday. The business's 50 day moving average is $70.38 and its two-hundred day moving average is $66.90. Continental Resources, Inc. has a 52-week low of $40.75 and a 52-week high of $75.49. The firm has a market cap of $26.92 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 0.20 and a beta of 2.32. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 0.60.Continental Resources (NYSE:CLR – Get Rating) last announced its earnings results on Wednesday, November 2nd. The oil and natural gas company reported $2.88 earnings per share (EPS) 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 45.89%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The business's revenue for the quarter was up 82.4% on a year-over-year basis. Analysts forecast that Continental Resources, Inc. will post 11.25 EPS for the current fiscal year.
Continental Resources 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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