Continental Resources, Inc. (CLR) Stake Increased by AQR Capital Management LLC
AQR Capital Management LLC raised its position in Continental Resources, Inc. (NYSE:CLR) by 18.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 55,029 shares of the oil and natural gas company’s stock after acquiring an additional 8,605 shares during the period. AQR Capital Management LLC’s holdings in Continental Resources were worth $3,757,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Focused Wealth Management Inc acquired a new stake in shares of Continental Resources in the third quarter valued at about $171,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Continental Resources by 4,924.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock valued at $163,000 after purchasing an additional 2,462 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Continental Resources in the third quarter valued at about $205,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Continental Resources in the third quarter valued at about $212,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Continental Resources in the third quarter valued at about $221,000. Institutional investors own 21.60% of the company’s stock.
Several analysts recently commented on CLR shares. Zacks Investment Research cut shares of Continental Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 3rd. Wells Fargo & Co started coverage on shares of Continental Resources in a research note on Wednesday, October 24th. They issued an “outperform” rating and a $78.00 price objective for the company. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Continental Resources in a research note on Friday, November 9th. Seaport Global Securities upgraded shares of Continental Resources from a “neutral” rating to a “buy” rating and raised their price objective for the company from $64.00 to $75.00 in a research note on Monday, October 15th. Finally, B. Riley set a $49.00 price objective on shares of Continental Resources and gave the company a “buy clr” rating in a research note on Monday, December 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the stock. Continental Resources has an average rating of “Buy” and a consensus price target of $70.45.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The company’s quarterly revenue was up 76.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, research analysts predict that Continental Resources, Inc. will post 3.06 earnings per share for the current fiscal year.
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About Continental Resources
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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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