Raymond James & Associates Cuts Stake in Continental Resources, Inc. (CLR)

Raymond James & Associates reduced its position in Continental Resources, Inc. (NYSE:CLR) by 68.4% in the fourth quarter, HoldingsChannel reports. The firm owned 180,712 shares of the oil and natural gas company’s stock after selling 391,698 shares during the quarter. Raymond James & Associates’ holdings in Continental Resources were worth $7,263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rational Advisors LLC boosted its holdings in shares of Continental Resources by 207.8% in the 4th quarter. Rational Advisors LLC now owns 674 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 455 shares in the last quarter. Private Capital Group LLC boosted its holdings in shares of Continental Resources by 333.3% in the 4th quarter. Private Capital Group LLC now owns 832 shares of the oil and natural gas company’s stock worth $33,000 after purchasing an additional 640 shares in the last quarter. Doyle Wealth Management purchased a new position in shares of Continental Resources in the 4th quarter worth about $42,000. NuWave Investment Management LLC boosted its holdings in shares of Continental Resources by 18.4% in the 4th quarter. NuWave Investment Management LLC now owns 1,663 shares of the oil and natural gas company’s stock worth $67,000 after purchasing an additional 258 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Continental Resources in the 4th quarter worth about $80,000. Hedge funds and other institutional investors own 21.32% of the company’s stock.

Several equities research analysts recently weighed in on the company. Jefferies Financial Group restated a “buy” rating and set a $64.00 target price on shares of Continental Resources in a report on Wednesday, January 30th. Ifs Securities restated an “outperform” rating on shares of Continental Resources in a report on Sunday, February 3rd. Credit Suisse Group restated a “buy” rating and set a $56.00 target price on shares of Continental Resources in a report on Tuesday, February 19th. Goldman Sachs Group restated a “buy” rating on shares of Continental Resources in a report on Tuesday, November 27th. Finally, BMO Capital Markets upgraded Continental Resources from a “market perform” rating to an “outperform” rating in a report on Monday, January 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty-two have issued a buy rating to the company’s stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $65.11.

CLR opened at $42.32 on Thursday. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 0.95. Continental Resources, Inc. has a one year low of $35.54 and a one year high of $71.95.

Continental Resources (NYSE:CLR) last released its quarterly earnings results on Monday, February 18th. The oil and natural gas company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.17 billion. Continental Resources had a net margin of 20.99% and a return on equity of 18.28%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. Equities research analysts forecast that Continental Resources, Inc. will post 1.99 EPS for the current fiscal year.

In other Continental Resources news, CEO Harold Hamm purchased 883,977 shares of the stock in a transaction on Friday, February 22nd. The stock was acquired at an average price of $44.49 per share, with a total value of $39,328,136.73. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 76.83% of the company’s stock.

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Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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Want to see what other hedge funds are holding CLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Continental Resources, Inc. (NYSE:CLR).

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

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