Illinois Municipal Retirement Fund boosted its stake in shares of Continental Resources, Inc. (NYSE:CLR – Get Rating) by 103.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,472 shares of the oil and natural gas company's stock after buying an additional 7,868 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Continental Resources were worth $1,011,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Continental Resources during the first quarter valued at about $26,000. Acadian Asset Management LLC bought a new position in Continental Resources during the first quarter valued at about $36,000. Atlas Capital Advisors LLC bought a new position in Continental Resources during the first quarter valued at about $47,000. Steward Partners Investment Advisory LLC boosted its position 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 worth $48,000 after purchasing an additional 650 shares during the period. Finally, Venture Visionary Partners LLC bought a new position in Continental Resources during the second quarter worth about $68,000. Institutional investors own 13.41% of the company's stock.
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Shares of CLR opened at $74.14 on Tuesday. The firm's 50 day simple moving average is $70.42 and its 200 day simple moving average is $66.99. The company has a market capitalization of $26.91 billion, a P/E ratio of 7.53, a P/E/G ratio of 0.20 and a beta of 2.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.93. Continental Resources, Inc. has a 1-year low of $40.75 and a 1-year high of $75.49.
Continental Resources (NYSE:CLR – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The oil and natural gas company reported $2.88 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 for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The firm's revenue was up 82.4% on a year-over-year basis. Sell-side analysts forecast that Continental Resources, Inc. will post 11.25 earnings per share for the current fiscal year.Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Continental Resources in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Raymond James lowered 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 report on Monday, October 24th. Mizuho increased their target price on shares of Continental Resources from $72.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, October 24th. Piper Sandler increased their target price on shares of Continental Resources from $70.00 to $74.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 18th. Finally, Cowen set a $70.00 target price on shares of Continental Resources in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Continental Resources has a consensus rating of "Hold" and an average target price of $72.00.
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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