Continental Resources, Inc. (CLR) Position Decreased by Rainier Investment Management LLC
Rainier Investment Management LLC decreased its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 59.0% during the second quarter, Holdings Channel reports. The institutional investor owned 32,990 shares of the oil and natural gas company’s stock after selling 47,450 shares during the period. Rainier Investment Management LLC’s holdings in Continental Resources were worth $1,067,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. increased its stake in shares of Continental Resources by 5.4% in the first quarter. Whittier Trust Co. now owns 110,346 shares of the oil and natural gas company’s stock valued at $5,010,000 after buying an additional 5,654 shares in the last quarter. AMF Pensionsforsakring AB acquired a new stake in shares of Continental Resources during the first quarter valued at $7,813,000. ARP Americas LLC acquired a new stake in shares of Continental Resources during the first quarter valued at $268,000. Glen Harbor Capital Management LLC increased its stake in shares of Continental Resources by 41.8% in the first quarter. Glen Harbor Capital Management LLC now owns 19,648 shares of the oil and natural gas company’s stock valued at $892,000 after buying an additional 5,792 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Continental Resources by 6.2% in the first quarter. ProShare Advisors LLC now owns 8,062 shares of the oil and natural gas company’s stock worth $366,000 after buying an additional 471 shares during the period. Institutional investors own 22.93% of the company’s stock.
Shares of Continental Resources, Inc. (NYSE:CLR) opened at 32.84 on Friday. Continental Resources, Inc. has a one year low of $29.08 and a one year high of $60.30. The stock’s market capitalization is $12.19 billion. The stock has a 50 day moving average of $32.61 and a 200-day moving average of $39.63.
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A number of equities research analysts have recently weighed in on CLR shares. BidaskClub raised Continental Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Barclays PLC set a $37.00 target price on Continental Resources and gave the stock an “overweight” rating in a report on Thursday, August 10th. Zacks Investment Research raised Continental Resources from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Citigroup Inc. dropped their price target on Continental Resources from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $46.00 price objective on shares of Continental Resources in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Continental Resources presently has an average rating of “Buy” and an average price target of $49.90.
In related news, CEO Harold Hamm purchased 36,452 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were bought at an average price of $42.05 per share, for a total transaction of $1,532,806.60. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 76.97% of the stock is owned by corporate insiders.
About Continental Resources
Continental Resources, Inc is a crude oil and natural gas 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.
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