11,000 Shares in Continental Resources Inc. (CLR) Acquired by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. acquired a new stake in Continental Resources Inc. (NYSE:CLR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $498,000.
A number of other large investors have also recently bought and sold shares of CLR. BlueMountain Capital Management LLC purchased a new stake in Continental Resources during the first quarter valued at $129,000. Shell Asset Management Co. boosted its position in Continental Resources by 19.3% in the second quarter. Shell Asset Management Co. now owns 3,737 shares of the company’s stock worth $169,000 after buying an additional 604 shares during the period. Fox Run Management L.L.C. bought a new position in Continental Resources during the second quarter worth approximately $217,000. M&T Bank Corp bought a new position in Continental Resources during the first quarter worth approximately $234,000. Finally, Franklin Resources Inc. bought a new position in Continental Resources during the first quarter worth approximately $243,000. 23.37% of the stock is owned by institutional investors and hedge funds.
Shares of Continental Resources Inc. (NYSE:CLR) traded down 1.71% during trading on Friday, reaching $53.39. The company’s stock had a trading volume of 3,160,739 shares. The stock’s 50 day moving average is $49.04 and its 200 day moving average is $42.58. The firm’s market cap is $19.78 billion. Continental Resources Inc. has a one year low of $13.94 and a one year high of $55.07.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. Continental Resources had a negative net margin of 24.96% and a negative return on equity of 7.57%. The company earned $525.70 million during the quarter, compared to the consensus estimate of $518.42 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was down 33.5% compared to the same quarter last year. On average, equities analysts forecast that Continental Resources Inc. will post ($0.80) EPS for the current fiscal year.
A number of research firms have recently commented on CLR. Canaccord Genuity reissued a “buy” rating and issued a $60.00 target price on shares of Continental Resources in a report on Friday. Scotiabank dropped their target price on shares of Continental Resources from $17.00 to $16.75 and set an “outperform” rating for the company in a report on Wednesday, September 7th. BMO Capital Markets reissued a “buy” rating and issued a $50.00 target price on shares of Continental Resources in a report on Wednesday, September 7th. Stifel Nicolaus reissued a “hold” rating on shares of Continental Resources in a report on Wednesday, August 31st. Finally, Nomura increased their target price on shares of Continental Resources from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $44.25.
In related news, SVP Steven K. Owen sold 3,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $46.54, for a total transaction of $148,928.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John D. Hart sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $46.84, for a total value of $187,360.00. The disclosure for this sale can be found here. Corporate insiders own 76.97% of the company’s stock.
About Continental Resources
Continental Resources, Inc is an independent crude oil and natural gas exploration and production company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
Want to see what other hedge funds are holding CLR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Continental Resources Inc. (NYSE:CLR).
Receive News & Ratings for Continental Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.