Seeyond Sells 4,972 Shares of Continental Resources, Inc. (NYSE:CLR)

Seeyond reduced its stake in Continental Resources, Inc. (NYSE:CLR) by 61.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,065 shares of the oil and natural gas company’s stock after selling 4,972 shares during the period. Seeyond’s holdings in Continental Resources were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CLR. Motco bought a new stake in shares of Continental Resources in the second quarter valued at approximately $25,000. Glen Harbor Capital Management LLC acquired a new position in Continental Resources during the second quarter valued at approximately $38,000. Westside Investment Management Inc. acquired a new position in Continental Resources during the second quarter valued at approximately $49,000. Tyers Asset Management LLC acquired a new position in Continental Resources during the second quarter valued at approximately $52,000. Finally, Flinton Capital Management LLC acquired a new position in Continental Resources during the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 19.44% of the company’s stock.

Shares of Continental Resources stock traded up $6.33 during trading on Monday, hitting $38.47. The company’s stock had a trading volume of 4,848,561 shares, compared to its average volume of 2,384,909. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.03 and a quick ratio of 0.95. Continental Resources, Inc. has a 52 week low of $27.54 and a 52 week high of $71.95. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.09 and a beta of 1.69. The stock has a 50-day moving average price of $31.29 and a two-hundred day moving average price of $39.53.



Continental Resources (NYSE:CLR) last issued 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 return on equity of 15.09% and a net margin of 19.64%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Continental Resources, Inc. will post 2.33 EPS for the current fiscal year.

Continental Resources announced that its Board of Directors has authorized a stock repurchase program on Monday, June 3rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and natural gas company to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several research analysts have commented on CLR shares. Wells Fargo & Co lowered their price objective on shares of Continental Resources from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. TD Securities lowered their price objective on shares of Continental Resources from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Piper Jaffray Companies set a $49.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research report on Friday, August 16th. MKM Partners lowered their price objective on shares of Continental Resources from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Barclays lowered their price objective on shares of Continental Resources from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Continental Resources currently has a consensus rating of “Buy” and an average target price 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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