Continental Resources, Inc. (NYSE:CLR) CEO Harold Hamm Buys 38,600 Shares

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Continental Resources, Inc. (NYSE:CLR) CEO Harold Hamm acquired 38,600 shares of Continental Resources stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $38.76 per share, with a total value of $1,496,136.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Harold Hamm also recently made the following trade(s):

  • On Thursday, May 16th, Harold Hamm acquired 65,000 shares of Continental Resources stock. The stock was acquired at an average price of $42.71 per share, with a total value of $2,776,150.00.
  • On Monday, March 25th, Harold Hamm acquired 191,828 shares of Continental Resources stock. The stock was acquired at an average price of $42.85 per share, with a total value of $8,219,829.80.
  • On Friday, March 22nd, Harold Hamm acquired 600,000 shares of Continental Resources stock. The stock was acquired at an average price of $42.98 per share, with a total value of $25,788,000.00.

Shares of NYSE:CLR opened at $36.68 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 0.87. Continental Resources, Inc. has a one year low of $34.61 and a one year high of $71.95. The firm has a market capitalization of $14.47 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.74 and a beta of 1.60.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.11. Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.68 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Continental Resources, Inc. will post 2.81 earnings per share for the current fiscal year.

Continental Resources declared that its Board of Directors has approved a stock buyback plan on Monday, June 3rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and natural gas company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, November 6th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new stake in shares of Continental Resources during the 1st quarter worth $2,729,000. Cerebellum GP LLC lifted its holdings in shares of Continental Resources by 13.7% during the 1st quarter. Cerebellum GP LLC now owns 7,312 shares of the oil and natural gas company’s stock worth $327,000 after acquiring an additional 879 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in shares of Continental Resources by 149.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 1,772,403 shares of the oil and natural gas company’s stock worth $79,350,000 after acquiring an additional 1,060,548 shares during the last quarter. RMB Capital Management LLC bought a new stake in shares of Continental Resources during the 1st quarter worth $220,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Continental Resources by 6.8% during the 1st quarter. Advisors Asset Management Inc. now owns 19,924 shares of the oil and natural gas company’s stock worth $892,000 after acquiring an additional 1,262 shares during the last quarter. 20.18% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on the stock. KeyCorp reduced their price objective on shares of Continental Resources from $55.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. ValuEngine lowered shares of Continental Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 1st. Morgan Stanley set a $61.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Thursday, May 2nd. Finally, Ifs Securities lowered shares of Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $63.38.

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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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