Toronto Dominion Bank Sells 1,384 Shares of Continental Resources, Inc. (NYSE:CLR)

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Toronto Dominion Bank decreased its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,240 shares of the oil and natural gas company’s stock after selling 1,384 shares during the period. Toronto Dominion Bank’s holdings in Continental Resources were worth $914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CLR. Dimensional Fund Advisors LP boosted its stake in shares of Continental Resources by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,765 shares of the oil and natural gas company’s stock valued at $30,937,000 after purchasing an additional 12,127 shares in the last quarter. Geode Capital Management LLC boosted its stake in Continental Resources by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 769,212 shares of the oil and natural gas company’s stock worth $30,891,000 after acquiring an additional 18,662 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Continental Resources by 12.1% during the first quarter. Victory Capital Management Inc. now owns 45,966 shares of the oil and natural gas company’s stock worth $2,058,000 after acquiring an additional 4,954 shares in the last quarter. Stephens Inc. AR bought a new stake in Continental Resources during the first quarter worth about $473,000. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Continental Resources by 3.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 8,442 shares of the oil and natural gas company’s stock worth $378,000 after acquiring an additional 292 shares in the last quarter. 19.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CLR traded down $0.11 during mid-day trading on Thursday, hitting $34.16. 73,826 shares of the company traded hands, compared to its average volume of 2,845,482. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 1.03. The stock has a 50-day moving average price of $31.19 and a two-hundred day moving average price of $39.28. Continental Resources, Inc. has a 1 year low of $27.54 and a 1 year high of $71.95. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.33 and a beta of 1.69.

Continental Resources (NYSE:CLR) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Continental Resources had a net margin of 19.64% and a return on equity of 15.09%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts forecast that Continental Resources, Inc. will post 2.33 EPS for the current year.

Continental Resources declared that its board has authorized a stock repurchase plan on Monday, June 3rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the oil and natural gas company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

CLR has been the topic of several research reports. Piper Jaffray Companies set a $49.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research note on Friday, August 16th. KeyCorp dropped their price objective on shares of Continental Resources from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Barclays dropped their price objective on shares of Continental Resources from $59.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. MKM Partners dropped their price objective on shares of Continental Resources from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, ValuEngine raised shares of Continental Resources from a “strong sell” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.52.

Continental Resources Company Profile

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

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