Brandywine Global Investment Management LLC Invests $8.11 Million in Continental Resources, Inc. (CLR)
Brandywine Global Investment Management LLC purchased a new position in Continental Resources, Inc. (NYSE:CLR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 201,701 shares of the oil and natural gas company’s stock, valued at approximately $8,107,000. Brandywine Global Investment Management LLC owned about 0.05% of Continental Resources at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CLR. BOKF NA grew its position in Continental Resources by 15.4% during the fourth quarter. BOKF NA now owns 86,162 shares of the oil and natural gas company’s stock valued at $3,462,000 after buying an additional 11,506 shares during the period. Geode Capital Management LLC grew its position in Continental Resources by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 769,212 shares of the oil and natural gas company’s stock valued at $30,891,000 after buying an additional 18,662 shares during the period. ARP Americas LP acquired a new stake in Continental Resources during the fourth quarter valued at $543,000. California State Teachers Retirement System grew its position in Continental Resources by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 139,385 shares of the oil and natural gas company’s stock valued at $5,602,000 after buying an additional 681 shares during the period. Finally, Gideon Capital Advisors Inc. acquired a new stake in Continental Resources during the fourth quarter valued at $252,000. 21.15% of the stock is owned by institutional investors and hedge funds.
NYSE:CLR opened at $43.93 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $15.73 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.46. Continental Resources, Inc. has a twelve month low of $35.54 and a twelve month high of $71.95.
CLR has been the topic of several analyst reports. Capital One Financial upgraded shares of Continental Resources from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. BMO Capital Markets upgraded shares of Continental Resources from a “market perform” rating to an “outperform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and set a $62.00 price target on shares of Continental Resources in a research report on Wednesday, January 30th. Morgan Stanley set a $60.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, KeyCorp started coverage on shares of Continental Resources in a report on Tuesday, February 12th. They set an “overweight” rating and a $52.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and thirty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.11.
In other Continental Resources news, CEO Harold Hamm purchased 883,977 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were purchased at an average cost of $44.49 per share, with a total value of $39,328,136.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 76.83% of the company’s stock.
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Continental Resources 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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