MHI Funds LLC bought a new position in shares of Continental Resources, Inc. (NYSE:CLR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,579 shares of the oil and natural gas company’s stock, valued at approximately $305,000.
Other large investors also recently modified their holdings of the company. Private Capital Group LLC lifted its position in Continental Resources by 333.3% during the fourth quarter. Private Capital Group LLC now owns 832 shares of the oil and natural gas company’s stock valued at $33,000 after purchasing an additional 640 shares during the last quarter. NuWave Investment Management LLC lifted its position in Continental Resources by 18.4% during the fourth quarter. NuWave Investment Management LLC now owns 1,663 shares of the oil and natural gas company’s stock valued at $67,000 after purchasing an additional 258 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Continental Resources during the fourth quarter valued at $80,000. Focused Wealth Management Inc bought a new position in Continental Resources during the third quarter valued at $171,000. Finally, Quantamental Technologies LLC bought a new position in Continental Resources during the fourth quarter valued at $186,000. Hedge funds and other institutional investors own 21.38% of the company’s stock.
Several equities analysts have commented on CLR shares. Zacks Investment Research lowered shares of Continental Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 3rd. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Continental Resources in a research report on Friday, November 9th. Wells Fargo & Co started coverage on shares of Continental Resources in a research report on Wednesday, October 24th. They set an “outperform” rating and a $78.00 price objective for the company. Seaport Global Securities upgraded shares of Continental Resources from a “neutral” rating to a “buy” rating and increased their price objective for the company from $64.00 to $75.00 in a research report 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 report on Monday, December 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-one have given a buy rating to the stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $70.14.
CLR stock traded down $0.34 during trading on Friday, hitting $44.13. The company had a trading volume of 2,241,557 shares, compared to its average volume of 2,007,787. The company has a market capitalization of $16.59 billion, a PE ratio of 86.53, a P/E/G ratio of 1.35 and a beta of 1.50. Continental Resources, Inc. has a 52-week low of $35.54 and a 52-week high of $71.95. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.92 and a quick ratio of 0.85.
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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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