Earnest Partners LLC Sells 28,331 Shares of Continental Resources, Inc. (NYSE:CLR)

Earnest Partners LLC cut its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 624,375 shares of the oil and natural gas company’s stock after selling 28,331 shares during the period. Earnest Partners LLC owned approximately 0.17% of Continental Resources worth $24,107,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CLR. Toronto Dominion Bank lifted its stake in shares of Continental Resources by 244.1% during the 3rd quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 2,810 shares in the last quarter. Sii Investments Inc. WI purchased a new stake in shares of Continental Resources during the 3rd quarter valued at approximately $200,000. Shell Asset Management Co. lifted its stake in shares of Continental Resources by 17.7% during the 2nd quarter. Shell Asset Management Co. now owns 6,266 shares of the oil and natural gas company’s stock valued at $203,000 after buying an additional 944 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Continental Resources by 131.7% during the 3rd quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock valued at $205,000 after buying an additional 3,009 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new stake in shares of Continental Resources during the 2nd quarter valued at approximately $210,000. 22.54% of the stock is owned by institutional investors and hedge funds.

In other Continental Resources news, SVP Gary E. Gould sold 9,874 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $50.85, for a total value of $502,092.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John D. Hart sold 6,000 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total transaction of $307,380.00. The disclosure for this sale can be found here. In the last three months, insiders sold 52,874 shares of company stock worth $2,603,673. Insiders own 76.87% of the company’s stock.

Continental Resources, Inc. (CLR) traded up $1.29 during mid-day trading on Tuesday, hitting $54.26. 1,974,942 shares of the company traded hands, compared to its average volume of 1,765,500. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. Continental Resources, Inc. has a 52 week low of $29.08 and a 52 week high of $54.28. The company has a market cap of $20,360.00, a price-to-earnings ratio of -775.14 and a beta of 1.44.

Continental Resources (NYSE:CLR) last released its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The company had revenue of $726.74 million for the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. equities analysts predict that Continental Resources, Inc. will post 0.33 earnings per share for the current fiscal year.

A number of analysts recently commented on CLR shares. BMO Capital Markets upped their price target on shares of Continental Resources from $8.00 to $11.00 in a research note on Monday, November 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $41.00 target price on shares of Continental Resources in a research note on Friday, October 6th. Stifel Nicolaus set a $68.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research note on Thursday, October 5th. Jefferies Group reiterated a “buy” rating and issued a $47.00 target price on shares of Continental Resources in a research note on Thursday, October 12th. Finally, SunTrust Banks set a $50.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research note on Thursday, October 12th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Continental Resources currently has a consensus rating of “Buy” and an average price target of $47.65.

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Continental Resources 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.

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

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