JPMorgan Chase & Co. Purchases 2,970 Shares of Continental Resources, Inc. (CLR)

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JPMorgan Chase & Co. boosted its stake in Continental Resources, Inc. (NYSE:CLR) by 3.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 103,003 shares of the oil and natural gas company’s stock after acquiring an additional 2,970 shares during the quarter. JPMorgan Chase & Co.’s holdings in Continental Resources were worth $7,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CLR. Barings LLC bought a new position in Continental Resources in the 2nd quarter valued at about $216,000. Virginia Retirement Systems ET AL bought a new position in Continental Resources in the 2nd quarter valued at about $363,000. State of Wisconsin Investment Board grew its position in Continental Resources by 41.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 120,197 shares of the oil and natural gas company’s stock valued at $7,784,000 after buying an additional 35,075 shares in the last quarter. Sei Investments Co. grew its position in Continental Resources by 249.9% in the 2nd quarter. Sei Investments Co. now owns 15,346 shares of the oil and natural gas company’s stock valued at $994,000 after buying an additional 10,960 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Continental Resources by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 95,031 shares of the oil and natural gas company’s stock valued at $6,154,000 after buying an additional 3,620 shares in the last quarter. Hedge funds and other institutional investors own 21.61% of the company’s stock.

Shares of NYSE CLR opened at $45.77 on Friday. Continental Resources, Inc. has a twelve month low of $43.53 and a twelve month high of $71.95. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.92 and a quick ratio of 0.85. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 89.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.47.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company earned $0.09 EPS. Continental Resources’s revenue was up 76.4% on a year-over-year basis. On average, equities research analysts forecast that Continental Resources, Inc. will post 3.1 EPS for the current year.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 76.83% of the stock is currently owned by corporate insiders.

A number of equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Continental Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Piper Jaffray Companies assumed coverage on shares of Continental Resources in a research report on Friday, September 28th. They issued an “overweight” rating for the company. Scotiabank reiterated a “buy” rating and issued a $78.00 target price on shares of Continental Resources in a research report on Thursday, September 27th. Morgan Stanley decreased their target price on shares of Continental Resources from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, September 26th. Finally, BMO Capital Markets lowered shares of Continental Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 9th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $71.72.

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Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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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Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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