Continental Resources, Inc. (NYSE:CLR) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in shares of Continental Resources, Inc. (NYSE:CLRGet Rating) by 0.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 226,752 shares of the oil and natural gas company’s stock after purchasing an additional 1,030 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Continental Resources were worth $13,907,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CLR. Smead Capital Management Inc. increased its position in shares of Continental Resources by 18.5% during the 4th quarter. Smead Capital Management Inc. now owns 6,578,234 shares of the oil and natural gas company’s stock valued at $294,442,000 after purchasing an additional 1,027,801 shares during the period. Bank of America Corp DE grew its holdings in shares of Continental Resources by 46.3% in the 4th quarter. Bank of America Corp DE now owns 1,542,162 shares of the oil and natural gas company’s stock worth $69,027,000 after acquiring an additional 488,382 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Continental Resources by 29.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,414 shares of the oil and natural gas company’s stock worth $80,855,000 after acquiring an additional 408,479 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Continental Resources by 28.2% in the 4th quarter. Geode Capital Management LLC now owns 1,160,307 shares of the oil and natural gas company’s stock worth $51,935,000 after acquiring an additional 255,037 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Continental Resources in the 4th quarter worth $9,867,000. 13.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLR. StockNews.com cut Continental Resources from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Scotiabank cut Continental Resources from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, August 1st. Piper Sandler cut Continental Resources from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $76.00 to $70.00 in a research report on Tuesday. Royal Bank of Canada cut Continental Resources from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Wednesday, July 6th. Finally, Barclays decreased their target price on Continental Resources from $77.00 to $73.00 in a research report on Friday, July 29th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.29.

Continental Resources Price Performance

Shares of Continental Resources stock opened at $66.51 on Friday. The stock has a market capitalization of $24.14 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 0.15 and a beta of 2.52. Continental Resources, Inc. has a 1-year low of $32.15 and a 1-year high of $75.49. The firm has a fifty day simple moving average of $66.82 and a 200-day simple moving average of $61.36. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60.

Continental Resources (NYSE:CLRGet Rating) last released its earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.05 by $0.42. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Continental Resources had a net margin of 37.73% and a return on equity of 40.32%. The business’s quarterly revenue was up 114.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. On average, sell-side analysts expect that Continental Resources, Inc. will post 11.91 earnings per share for the current year.

Continental Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Monday, August 8th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, August 5th. Continental Resources’s payout ratio is currently 13.91%.

Continental Resources Company Profile

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Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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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