California Public Employees Retirement System Sells 2,691 Shares of Continental Resources, Inc. (CLR)

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California Public Employees Retirement System decreased its position in Continental Resources, Inc. (NYSE:CLR) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,812 shares of the oil and natural gas company’s stock after selling 2,691 shares during the period. California Public Employees Retirement System’s holdings in Continental Resources were worth $8,319,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Ffcm LLC raised its holdings in shares of Continental Resources by 1.0% in the 4th quarter. Ffcm LLC now owns 28,620 shares of the oil and natural gas company’s stock worth $1,150,000 after buying an additional 282 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Continental Resources by 7.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,176 shares of the oil and natural gas company’s stock worth $187,000 after acquiring an additional 288 shares during the last quarter. Greenleaf Trust grew its position in Continental Resources by 7.0% during the 4th quarter. Greenleaf Trust now owns 5,578 shares of the oil and natural gas company’s stock worth $224,000 after acquiring an additional 365 shares during the last quarter. DNB Asset Management AS grew its position in Continental Resources by 3.5% during the 1st quarter. DNB Asset Management AS now owns 12,085 shares of the oil and natural gas company’s stock worth $541,000 after acquiring an additional 412 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its position in Continental Resources by 2.1% during the 1st quarter. Gulf International Bank UK Ltd now owns 20,350 shares of the oil and natural gas company’s stock worth $911,000 after acquiring an additional 424 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

CLR stock opened at $38.47 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a market capitalization of $14.49 billion, a PE ratio of 13.55, a P/E/G ratio of 0.93 and a beta of 1.45. Continental Resources, Inc. has a twelve month low of $35.54 and a twelve month high of $71.95.

Continental Resources (NYSE:CLR) last posted its quarterly earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.11. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. Continental Resources had a return on equity of 16.71% and a net margin of 20.06%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. On average, analysts expect that Continental Resources, Inc. will post 2.79 earnings per share for the current fiscal year.

A number of research firms recently commented on CLR. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, May 2nd. Morgan Stanley set a $61.00 price objective on Continental Resources and gave the company a “buy” rating in a research report on Wednesday, May 8th. Barclays reiterated a “buy” rating and issued a $57.00 price objective on shares of Continental Resources in a research report on Friday, April 12th. KeyCorp increased their price objective on Continental Resources from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Ifs Securities lowered Continental Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $63.50.

In related news, CEO Harold Hamm purchased 65,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were bought at an average price of $42.71 per share, with a total value of $2,776,150.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders bought 856,828 shares of company stock worth $36,783,980. 77.03% of the stock is currently owned by company insiders.

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

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