CIBC World Markets Inc. Acquires Shares of 39,712 Continental Resources, Inc. (CLR)
CIBC World Markets Inc. acquired a new stake in shares of Continental Resources, Inc. (NYSE:CLR) in the first quarter, Holdings Channel reports. The firm acquired 39,712 shares of the oil and natural gas company’s stock, valued at approximately $2,341,000.
Other large investors also recently made changes to their positions in the company. American International Group Inc. bought a new stake in shares of Continental Resources in the 4th quarter worth $102,000. Rockefeller Capital Management L.P. bought a new stake in shares of Continental Resources in the 1st quarter worth $135,000. Credit Agricole S A increased 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 worth $153,000 after purchasing an additional 1,200 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Continental Resources by 126.7% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Continental Resources in the 1st quarter worth $240,000. Institutional investors and hedge funds own 22.43% of the company’s stock.
In other Continental Resources news, SVP Steven K. Owen sold 18,000 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,190,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ellis L. Mccain sold 2,222 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $66.37, for a total value of $147,474.14. The disclosure for this sale can be found here. Insiders have sold 33,222 shares of company stock valued at $2,239,434 in the last three months. 76.83% of the stock is currently owned by corporate insiders.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Continental Resources had a return on equity of 9.23% and a net margin of 28.60%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. Continental Resources’s revenue for the quarter was up 66.5% on a year-over-year basis. equities research analysts predict that Continental Resources, Inc. will post 3.2 EPS for the current year.
CLR has been the subject of a number of research analyst reports. SunTrust Banks set a $75.00 target price on Continental Resources and gave the stock a “buy” rating in a report on Friday, March 16th. Morgan Stanley lifted their target price on Continental Resources from $83.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 24th. ValuEngine raised Continental Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 22nd. Citigroup lowered Continental Resources from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a report on Monday, May 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Friday, June 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and an average target price of $64.56.
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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