Charles Schwab Investment Management Inc. lessened its stake in Continental Resources, Inc. (NYSE: CLR – Get Rating) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,433 shares of the oil and natural gas company stock after selling 48,728 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.14% of Continental Resources worth $ 23,385,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc boosted its stake in shares of Continental Resources by 33.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 20,670 shares of the oil and natural gas company stock valued at $ 925,000 after purchasing an additional 5,170 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Continental Resources by 5.3% in the 4th quarter. Bank of Montreal Can now owns 44,584 shares of the oil and natural gas company stock valued at $ 1,997,000 after purchasing an additional 2,253 shares in the last quarter. Donoghue Forlines LLC purchased a new stake in shares of Continental Resources in the 4th quarter valued at $ 1,802,000. Covestor Ltd purchased a new stake in shares of Continental Resources in the 4th quarter valued at $ 67,000. Finally, Rhumbline Advisers boosted its stake in shares of Continental Resources by 2.0% in the 4th quarter. Rhumbline Advisers now owns 60,508 shares of oil and natural gas company stock valued at $ 2,708,000 after purchasing an additional 1,210 shares in the last quarter. 13.41% of the stock is owned by institutional investors and hedge funds.
Shares of Continental Resources stock opened at $ 69.10 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.88. The company has a 50-day moving average of $ 61.64 and a 200 day moving average of $ 55.08. The firm has a market cap of $ 25.08 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.16 and a beta of 2.75. Continental Resources, Inc. has a 1 year low of $ 31.40 and a 1 year high of $ 71.99.
Continental Resources (NYSE: CLR – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $ 2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 2.41 by $ 0.24. The company had revenue of $ 1.82 billion during the quarter, compared to analyst estimates of $ 2.16 billion. Continental Resources had a net margin of 31.63% and a return on equity of 31.43%. Continental Resources’s quarterly revenue was up 49.4% compared to the same quarter last year. During the same period last year, the business earned $ 0.77 EPS. On average, equities analysts anticipate that Continental Resources, Inc. will post 11.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Monday, May 9th were paid a $ 0.28 dividend. This represents a $ 1.12 annualized dividend and a dividend yield of 1.62%. This is a positive change 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 (DPR) is presently 20.40%.
A number of equities research analysts have recently issued reports on the stock. MKM Partners upped their price objective on shares of Continental Resources from $ 58.00 to $ 62.00 and gave the company a “buy” rating in a research note on Wednesday, February 16th. Raymond James increased their price target on shares of Continental Resources from $ 70.00 to $ 80.00 and gave the company an “outperform” rating in a research report on Monday, April 25th. TD Securities increased their price target on shares of Continental Resources from $ 50.00 to $ 61.00 and gave the company a “hold” rating in a research report on Tuesday, February 15th. Wells Fargo & Company increased their price target on shares of Continental Resources from $ 64.00 to $ 82.00 and gave the company an “overweight” rating in a research report on Monday, March 14th. Finally, Piper Sandler dropped their price target on shares of Continental Resources to $ 76.00 and set a “na” rating for the company in a research report on Wednesday, May 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $ 66.58.
In related news, President Jack H. Stark sold 25,000 shares of the stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $ 64.23, for a total transaction of $ 1,605,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Harold Hamm acquired 300,744 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were purchased at an average cost of $ 59.30 per share, for a total transaction of $ 17,834,119.20. The disclosure for this purchase can be found here. 58.57% of the stock is owned by company insiders.
About Continental Resources: (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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