BlackRock Inc. Has $312.73 Million Position in Continental Resources, Inc. (CLR)

BlackRock Inc. lifted its holdings in Continental Resources, Inc. (NYSE:CLR) by 5.6% in the second quarter, Holdings Channel reports. The fund owned 4,829,027 shares of the oil and natural gas company’s stock after purchasing an additional 256,614 shares during the quarter. BlackRock Inc.’s holdings in Continental Resources were worth $312,729,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. bought a new position in shares of Continental Resources in the 1st quarter valued at about $135,000. Credit Agricole S A lifted its holdings in shares of Continental Resources by 85.7% in the 1st quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 1,200 shares during the last quarter. Asset Management Advisors LLC bought a new position in shares of Continental Resources in the 2nd quarter valued at about $201,000. Barings LLC bought a new position in shares of Continental Resources in the 2nd quarter valued at about $216,000. Finally, Eqis Capital Management Inc. bought a new position in shares of Continental Resources in the 2nd quarter valued at about $238,000. 22.53% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently commented on CLR shares. Morgan Stanley increased their price target on shares of Continental Resources from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, August 16th. KLR Group raised shares of Continental Resources from a “hold” rating to a “buy” rating and increased their price target for the company from $67.00 to $78.00 in a report on Tuesday, July 24th. TD Securities increased their price target on shares of Continental Resources from $73.00 to $74.00 and gave the company a “hold” rating in a report on Wednesday, August 8th. Barclays started coverage on shares of Continental Resources in a report on Wednesday, August 29th. They issued an “overweight” rating and a $77.00 price target for the company. Finally, Jefferies Financial Group set a $83.00 price target on shares of Continental Resources and gave the company a “buy” rating in a report on Friday, July 13th. Twelve analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Continental Resources currently has an average rating of “Buy” and a consensus target price of $69.72.

Shares of NYSE:CLR opened at $60.37 on Friday. The company has a market cap of $22.89 billion, a PE ratio of 118.37, a P/E/G ratio of 1.31 and a beta of 1.30. Continental Resources, Inc. has a one year low of $35.68 and a one year high of $69.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97.

Continental Resources (NYSE:CLR) last issued its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. sell-side analysts anticipate that Continental Resources, Inc. will post 3.14 earnings per share for the current year.

Continental Resources 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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Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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