DNB Asset Management AS acquired a new stake in shares of Continental Resources, Inc. (NYSE:CLR) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 11,738 shares of the oil and natural gas company’s stock, valued at approximately $801,000.
A number of other hedge funds also recently modified their holdings of the stock. Jaffetilchin Investment Partners LLC purchased a new stake in Continental Resources in the third quarter valued at about $212,000. Barometer Capital Management Inc. purchased a new stake in Continental Resources in the third quarter valued at about $1,427,000. United Services Automobile Association raised its stake in Continental Resources by 276.3% in the second quarter. United Services Automobile Association now owns 49,629 shares of the oil and natural gas company’s stock valued at $3,214,000 after buying an additional 36,440 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in Continental Resources in the second quarter valued at about $2,607,000. Finally, Northern Trust Corp raised its stake in Continental Resources by 2.0% in the second quarter. Northern Trust Corp now owns 781,598 shares of the oil and natural gas company’s stock valued at $50,617,000 after buying an additional 15,329 shares during the last quarter. 22.53% of the stock is currently owned by institutional investors.
Shares of NYSE:CLR opened at $59.13 on Friday. Continental Resources, Inc. has a 52-week low of $36.81 and a 52-week high of $71.95. The stock has a market capitalization of $22.23 billion, a PE ratio of 30.95, a PEG ratio of 1.52 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.89.
A number of equities research analysts have commented on the company. Royal Bank of Canada set a $81.00 price target on Continental Resources and gave the company a “buy” rating in a research note on Thursday, September 20th. BMO Capital Markets cut Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 9th. They noted that the move was a valuation call. Seaport Global Securities reiterated a “neutral” rating on shares of Continental Resources in a research note on Wednesday, July 25th. KLR Group reiterated a “buy” rating and issued a $78.00 price target on shares of Continental Resources in a research note on Monday, August 20th. Finally, Jefferies Financial Group set a $83.00 price target on Continental Resources and gave the company a “buy” rating in a research note on Friday, July 13th. Eleven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.36.
In other news, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 76.83% of the company’s stock.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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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