Tortoise Capital Advisors L.L.C. Increases Position in Continental Resources, Inc. (CLR)

Tortoise Capital Advisors L.L.C. raised its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 21.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,797 shares of the oil and natural gas company’s stock after acquiring an additional 50,793 shares during the quarter. Tortoise Capital Advisors L.L.C. owned approximately 0.08% of Continental Resources worth $11,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in Continental Resources by 244.1% during the 3rd quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 2,810 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Continental Resources by 35.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after purchasing an additional 1,261 shares during the last quarter. Sii Investments Inc. WI purchased a new stake in shares of Continental Resources during the 3rd quarter valued at $200,000. Shell Asset Management Co. lifted its holdings in shares of Continental Resources by 17.7% during the 2nd quarter. Shell Asset Management Co. now owns 6,266 shares of the oil and natural gas company’s stock valued at $203,000 after purchasing an additional 944 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Continental Resources by 131.7% during the 3rd quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock valued at $205,000 after purchasing an additional 3,009 shares during the last quarter. 22.54% of the stock is currently owned by institutional investors and hedge funds.

CLR has been the subject of several analyst reports. Scotiabank decreased their price objective on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, November 10th. Piper Jaffray Companies restated a “buy” rating and issued a $41.00 target price on shares of Continental Resources in a research note on Friday, October 6th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, November 8th. Barclays raised their target price on Continental Resources from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Finally, SunTrust Banks restated a “buy” rating and issued a $55.00 target price on shares of Continental Resources in a research note on Friday, November 10th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Continental Resources currently has an average rating of “Buy” and a consensus price target of $47.65.

Continental Resources, Inc. (NYSE CLR) traded up $0.05 during mid-day trading on Friday, hitting $52.97. 1,556,189 shares of the stock traded hands, compared to its average volume of 1,706,994. The stock has a market cap of $19,856.05, a price-to-earnings ratio of -756.61 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. Continental Resources, Inc. has a 1 year low of $29.08 and a 1 year high of $53.57.

Continental Resources (NYSE:CLR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $726.74 million for the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.22) EPS. sell-side analysts forecast that Continental Resources, Inc. will post 0.33 EPS for the current fiscal year.

In other Continental Resources news, Director Mark E. Monroe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total value of $958,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $50.85, for a total value of $502,092.90. The disclosure for this sale can be found here. In the last three months, insiders sold 52,874 shares of company stock worth $2,603,673. 76.87% of the stock is owned by corporate insiders.

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Continental Resources Profile

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.

Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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