Continental Resources, Inc. (NYSE:CLR) Shares Sold by O Shaughnessy Asset Management LLC
O Shaughnessy Asset Management LLC reduced its stake in Continental Resources, Inc. (NYSE:CLR) by 53.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,225 shares of the oil and natural gas company’s stock after selling 1,420 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Continental Resources were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Morgan Stanley boosted its position in shares of Continental Resources by 12.3% during the 3rd quarter. Morgan Stanley now owns 1,695,983 shares of the oil and natural gas company’s stock worth $115,802,000 after acquiring an additional 185,580 shares in the last quarter. Norges Bank acquired a new stake in shares of Continental Resources during the 4th quarter worth approximately $52,621,000. Bank of New York Mellon Corp boosted its position in shares of Continental Resources by 26.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,220,703 shares of the oil and natural gas company’s stock worth $49,059,000 after acquiring an additional 257,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Continental Resources by 12.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 868,225 shares of the oil and natural gas company’s stock worth $38,872,000 after acquiring an additional 98,460 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Continental Resources by 4.7% during the 4th quarter. Northern Trust Corp now owns 828,055 shares of the oil and natural gas company’s stock worth $33,280,000 after acquiring an additional 37,093 shares in the last quarter. Hedge funds and other institutional investors own 20.18% of the company’s stock.
In other news, Director John T. Mcnabb II bought 1,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $39.88 per share, with a total value of $39,880.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harold Hamm bought 38,600 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average cost of $38.76 per share, with a total value of $1,496,136.00. The disclosure for this purchase can be found here. Insiders have bought 896,428 shares of company stock valued at $38,319,996 in the last ninety days. Insiders own 77.03% of the company’s stock.
Shares of CLR stock traded down $1.32 during trading hours on Wednesday, hitting $37.08. 49,916 shares of the company’s stock traded hands, compared to its average volume of 2,463,599. The company has a market capitalization of $14.00 billion, a P/E ratio of 13.01, a PEG ratio of 0.75 and a beta of 1.60. Continental Resources, Inc. has a 12 month low of $34.61 and a 12 month high of $71.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 1.03.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, sell-side analysts forecast 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 authorized a share repurchase program on Monday, June 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and natural gas company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, November 6th.
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About Continental Resources
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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