Cramer Rosenthal Mcglynn LLC trimmed its stake in Continental Resources, Inc. (NYSE:CLR) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,151,652 shares of the oil and natural gas company’s stock after selling 15,480 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Continental Resources were worth $61,003,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. American International Group Inc. purchased a new stake in Continental Resources in the fourth quarter worth approximately $102,000. Exane Derivatives purchased a new stake in Continental Resources in the fourth quarter worth approximately $113,000. Bellwether Investment Group LLC purchased a new stake in Continental Resources in the fourth quarter worth approximately $202,000. Calton & Associates Inc. purchased a new stake in Continental Resources in the fourth quarter worth approximately $200,000. Finally, Wealthstreet Investment Advisors LLC purchased a new stake in Continental Resources in the fourth quarter worth approximately $201,000. 22.42% of the stock is owned by institutional investors and hedge funds.
In related news, CFO John D. Hart sold 6,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total value of $502,092.90. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 156,909 shares of company stock valued at $7,846,156 and sold 52,874 shares valued at $2,603,673. Company insiders own 76.87% of the company’s stock.
Shares of Continental Resources, Inc. (NYSE:CLR) opened at $51.85 on Monday. Continental Resources, Inc. has a 52 week low of $29.08 and a 52 week high of $58.89. The company has a market capitalization of $19,454.95, a price-to-earnings ratio of 99.71 and a beta of 1.45. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $978.63 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The firm’s revenue was up 90.5% on a year-over-year basis. analysts expect that Continental Resources, Inc. will post 2.35 EPS for the current fiscal year.
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About Continental Resources
Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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