Mitsubishi UFJ Trust & Banking Corp Lowers Position in Continental Resources, Inc. (NYSE:CLR)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Continental Resources, Inc. (NYSE:CLRGet Rating) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,348 shares of the oil and natural gas company’s stock after selling 1,955 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Continental Resources were worth $1,983,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CLR. Lazard Asset Management LLC purchased a new stake in Continental Resources in the 1st quarter worth approximately $26,000. Acadian Asset Management LLC purchased a new stake in Continental Resources in the 1st quarter worth approximately $36,000. Atlas Capital Advisors LLC purchased a new stake in Continental Resources in the 1st quarter worth approximately $47,000. Steward Partners Investment Advisory LLC boosted its position in Continental Resources by 507.8% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 778 shares of the oil and natural gas company’s stock worth $48,000 after purchasing an additional 650 shares in the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in Continental Resources in the 2nd quarter worth approximately $68,000. Hedge funds and other institutional investors own 13.41% of the company’s stock.

Analysts Set New Price Targets

CLR has been the subject of several research analyst reports. Scotiabank downgraded Continental Resources from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, August 1st. StockNews.com initiated coverage on Continental Resources in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays reduced their target price on Continental Resources from $73.00 to $70.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Piper Sandler upped their target price on Continental Resources from $70.00 to $74.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 18th. Finally, Raymond James downgraded Continental Resources from an “outperform” rating to a “market perform” rating and set a $74.00 target price for the company. in a research note on Monday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.82.

Continental Resources Stock Up 0.0 %

Shares of NYSE:CLR opened at $74.20 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.20 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $71.28 and a two-hundred day moving average of $68.02. The stock has a market cap of $26.94 billion, a P/E ratio of 7.54, a PEG ratio of 0.20 and a beta of 2.32. Continental Resources, Inc. has a 52-week low of $40.75 and a 52-week high of $75.49.

Continental Resources (NYSE:CLRGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The oil and natural gas company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.10). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Continental Resources had a net margin of 40.29% and a return on equity of 43.58%. The company’s revenue was up 82.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, research analysts expect that Continental Resources, Inc. will post 11.22 earnings per share for the current year.

About Continental Resources

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Continental Resources, Inc is an independent oil producer engaged in the exploration, development, and production of crude oil and natural gas. The firm’s operations include horizontal drilling and protecting groundwater. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.

See Also

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Institutional Ownership by Quarter for Continental Resources (NYSE:CLR)

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