Bank of Montreal Can Reduces Position in Continental Resources, Inc. (CLR)

Bank of Montreal Can lowered its position in Continental Resources, Inc. (NYSE:CLR) by 24.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,406 shares of the oil and natural gas company’s stock after selling 49,613 shares during the period. Bank of Montreal Can’s holdings in Continental Resources were worth $10,544,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in Continental Resources by 6.1% in the first quarter. The Manufacturers Life Insurance Company now owns 15,559 shares of the oil and natural gas company’s stock worth $918,000 after buying an additional 899 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Continental Resources by 8.8% in the first quarter. Xact Kapitalforvaltning AB now owns 11,321 shares of the oil and natural gas company’s stock worth $667,000 after buying an additional 915 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Continental Resources by 49.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the oil and natural gas company’s stock worth $246,000 after buying an additional 1,250 shares during the last quarter. Sit Investment Associates Inc. increased its holdings in Continental Resources by 3.5% in the second quarter. Sit Investment Associates Inc. now owns 44,885 shares of the oil and natural gas company’s stock worth $2,907,000 after buying an additional 1,500 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in Continental Resources by 0.5% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 293,492 shares of the oil and natural gas company’s stock valued at $19,007,000 after purchasing an additional 1,530 shares during the last quarter. Hedge funds and other institutional investors own 22.52% of the company’s stock.

In other news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total value of $335,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 76.83% of the stock is currently owned by corporate insiders.



CLR opened at $53.54 on Friday. Continental Resources, Inc. has a 1-year low of $37.70 and a 1-year high of $71.95. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.89. The company has a market capitalization of $21.69 billion, a PE ratio of 104.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Continental Resources had a return on equity of 14.01% and a net margin of 32.80%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, sell-side analysts predict that Continental Resources, Inc. will post 3.17 EPS for the current year.

Several brokerages have commented on CLR. Royal Bank of Canada set a $81.00 price target on Continental Resources and gave the company a “buy” rating in a report on Thursday, September 20th. BMO Capital Markets downgraded Continental Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 9th. They noted that the move was a valuation call. Seaport Global Securities reiterated a “neutral” rating on shares of Continental Resources in a report on Wednesday, July 25th. KLR Group reiterated a “buy” rating and set a $78.00 price target on shares of Continental Resources in a report on Monday, August 20th. Finally, Jefferies Financial Group set a $83.00 price target on Continental Resources and gave the company a “buy” rating in a report on Friday, July 13th. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.38.

Continental Resources 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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