Bank of Montreal Can raised its stake in shares of Continental Resources, Inc. (NYSE: CLR – Get Rating) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,584 shares of the oil and natural gas company stock after purchasing an additional 2,253 shares during the quarter. Bank of Montreal Can’s holdings in Continental Resources were worth $ 1,997,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC increased its position in Continental Resources by 6.6% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,769 shares of the oil and natural gas company stock valued at $ 213,000 after purchasing an additional 295 shares during the period. B. Riley Wealth Management Inc. boosted its holdings in shares of Continental Resources by 5.2% during the 4th quarter. B. Riley Wealth Management Inc. now owns 6,028 shares of the oil and natural gas company stock valued at $ 270,000 after buying an additional 300 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Continental Resources by 2.5% during the 4th quarter. CIBC Asset Management Inc now owns 15,097 shares of the oil and natural gas company stock valued at $ 676,000 after buying an additional 372 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Continental Resources by 5.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 7,467 shares of the oil and natural gas company stock valued at $ 334,000 after buying an additional 400 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in shares of Continental Resources by 6.3% during the 4th quarter. Wedbush Securities Inc. now owns 7,499 shares of the oil and natural gas company stock valued at $ 336,000 after buying an additional 447 shares in the last quarter. 13.41% of the stock is currently owned by institutional investors and hedge funds.
Continental Resources stock opened at $ 69.10 on Friday. Continental Resources, Inc. has a 12-month low of $ 31.40 and a 12-month high of $ 71.99. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $ 25.08 billion, a price-to-earnings ratio of 12.59, a P / E / G ratio of 0.17 and a beta of 2.75. The firm has a 50 day moving average of $ 61.56 and a 200 day moving average of $ 54.93.
Continental Resources (NYSE: CLR – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $ 2.65 earnings per share for the quarter, topping the consensus estimate of $ 2.41 by $ 0.24. Continental Resources had a return on equity of 31.43% and a net margin of 31.63%. The business had revenue of $ 1.82 billion during the quarter, compared to the estimate consensus of $ 2.16 billion. During the same period in the prior year, the company posted $ 0.77 EPS. The firm’s revenue for the quarter was up 49.4% compared to the same quarter last year. On average, analysts predict that Continental Resources, Inc. will post 11.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Shareholders of record on Monday, May 9th were paid a $ 0.28 dividend. This represents a $ 1.12 annualized dividend and a yield of 1.62%. This is an increase from Continental Resources’s previous quarterly dividend of $ 0.23. The ex-dividend date of this dividend was Friday, May 6th. Continental Resources’s dividend payout ratio is presently 20.40%.
A number of analysts have recently commented on the stock. Royal Bank of Canada upgraded shares of Continental Resources from a “sector perform” rating to an “outperform” rating and set a $ 70.00 target price on the stock in a report on Monday, February 7th. Truist Financial upped their price target on shares of Continental Resources from $ 80.00 to $ 95.00 in a research note on Thursday, April 21st. KeyCorp upped their price target on shares of Continental Resources from $ 70.00 to $ 72.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. Raymond James upped their price target on shares of Continental Resources from $ 70.00 to $ 80.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Finally, Morgan Stanley upped their price target on shares of Continental Resources from $ 53.00 to $ 70.00 and gave the stock an “underweight” rating in a research note on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $ 66.58.
In other news, President Jack H. Stark sold 25,000 shares of the stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $ 64.23, for a total transaction of $ 1,605,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Harold Hamm bought 300,744 shares of the stock in a transaction dated Monday, March 7th. The shares were purchased at an average price of $ 59.30 per share, with a total value of $ 17,834,119.20. The disclosure for this purchase can be found here. Corporate insiders own 58.57% of the company stock.
Continental Resources Company Profile: (Get Rating)
Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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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