Tyers Asset Management LLC acquired a new position in Continental Resources, Inc. (NYSE:CLR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,232 shares of the oil and natural gas company’s stock, valued at approximately $52,000.

A number of other large investors have also recently added to or reduced their stakes in CLR. Northern Trust Corp boosted its holdings in shares of Continental Resources by 1.5% in the 2nd quarter. Northern Trust Corp now owns 836,129 shares of the oil and natural gas company’s stock worth $35,194,000 after purchasing an additional 12,101 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Continental Resources by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 769,765 shares of the oil and natural gas company’s stock worth $30,937,000 after purchasing an additional 12,127 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Continental Resources by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 769,212 shares of the oil and natural gas company’s stock worth $30,891,000 after purchasing an additional 18,662 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Continental Resources by 737.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 621,244 shares of the oil and natural gas company’s stock worth $26,255,000 after purchasing an additional 547,062 shares during the period. Finally, Bluestein R H & Co. boosted its holdings in shares of Continental Resources by 11.3% in the 2nd quarter. Bluestein R H & Co. now owns 482,457 shares of the oil and natural gas company’s stock worth $20,307,000 after purchasing an additional 49,126 shares during the period. 19.49% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on CLR. Piper Jaffray Companies set a $49.00 target price on Continental Resources and gave the stock a “buy” rating in a report on Friday, August 16th. Guggenheim reiterated a “buy” rating and issued a $50.00 target price (down previously from $60.00) on shares of Continental Resources in a report on Wednesday, August 21st. Royal Bank of Canada reiterated a “buy” rating and issued a $52.00 target price on shares of Continental Resources in a report on Thursday, August 8th. TD Securities dropped their target price on Continental Resources from $51.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Morgan Stanley dropped their target price on Continental Resources from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Continental Resources presently has an average rating of “Buy” and an average target price of $54.52.

CLR traded up $0.19 during trading hours on Friday, reaching $32.14. 1,604,207 shares of the company’s stock traded hands, compared to its average volume of 2,384,909. The firm has a 50-day moving average price of $31.29 and a 200 day moving average price of $39.53. Continental Resources, Inc. has a 52-week low of $27.54 and a 52-week high of $71.95. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $11.96 billion, a PE ratio of 11.32, a PEG ratio of 1.09 and a beta of 1.69.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Continental Resources had a net margin of 19.64% and a return on equity of 15.09%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned $0.73 EPS. Continental Resources’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Continental Resources, Inc. will post 2.33 EPS for the current fiscal year.

Continental Resources announced that its Board of Directors has authorized a stock buyback program on Monday, June 3rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and natural gas company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

About Continental Resources

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

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