Continental Resources, Inc. (CLR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Continental Resources, Inc. (NYSE:CLR) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 634,527 shares of the oil and natural gas company’s stock after selling 25,242 shares during the period. Bank of New York Mellon Corp owned 0.17% of Continental Resources worth $24,499,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CLR. FMR LLC increased its position in shares of Continental Resources by 16.5% in the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock worth $427,027,000 after acquiring an additional 1,875,103 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Continental Resources by 26.4% in the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after acquiring an additional 1,703,303 shares in the last quarter. State Street Corp increased its position in shares of Continental Resources by 14.4% in the second quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock worth $103,474,000 after acquiring an additional 403,667 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Continental Resources by 474.8% in the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock worth $93,518,000 after acquiring an additional 2,389,400 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its position in shares of Continental Resources by 208.2% in the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock worth $77,106,000 after acquiring an additional 1,611,003 shares in the last quarter. 22.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Continental Resources, Inc. (NYSE CLR) opened at $47.31 on Thursday. The firm has a market cap of $18,028.79, a price-to-earnings ratio of 1,201.25 and a beta of 1.44. Continental Resources, Inc. has a fifty-two week low of $29.08 and a fifty-two week high of $54.90. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.

Continental Resources (NYSE:CLR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The business had revenue of $726.74 million during the quarter, compared to analyst estimates of $710.77 million. During the same period last year, the business earned ($0.22) EPS. The business’s revenue was up 38.1% on a year-over-year basis. equities analysts anticipate that Continental Resources, Inc. will post 0.29 earnings per share for the current year.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Credit Suisse Group assumed coverage on shares of Continental Resources in a research report on Monday. They issued an “outperform” rating and a $57.00 price objective for the company. Macquarie raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Thursday. SunTrust Banks reissued a “buy” rating and issued a $55.00 price objective on shares of Continental Resources in a research report on Friday, November 10th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Continental Resources in a research report on Sunday, November 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $46.60.

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Continental Resources Company Profile

Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.

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

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