LLBH Private Wealth Management LLC Takes $673,000 Position in Continental Resources, Inc. (CLR)

LLBH Private Wealth Management LLC acquired a new stake in shares of Continental Resources, Inc. (NYSE:CLR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,030 shares of the oil and natural gas company’s stock, valued at approximately $673,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. NuWave Investment Management LLC lifted its stake in shares of 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 buying an additional 258 shares during the period. Ffcm LLC lifted its stake in shares of Continental Resources by 1.0% during the fourth quarter. Ffcm LLC now owns 28,620 shares of the oil and natural gas company’s stock valued at $1,150,000 after buying an additional 282 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Continental Resources by 7.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,176 shares of the oil and natural gas company’s stock valued at $187,000 after buying an additional 288 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Continental Resources by 3.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 8,442 shares of the oil and natural gas company’s stock valued at $378,000 after buying an additional 292 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of Continental Resources by 7.0% during the fourth quarter. Greenleaf Trust now owns 5,578 shares of the oil and natural gas company’s stock valued at $224,000 after buying an additional 365 shares during the period. 21.24% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Morgan Stanley set a $61.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, May 2nd. Ifs Securities downgraded shares of Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 23rd. ValuEngine raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, KeyCorp increased their price target on shares of Continental Resources from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $63.50.

In other Continental Resources news, CEO Harold Hamm bought 191,828 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $42.85 per share, with a total value of $8,219,829.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders bought 1,675,805 shares of company stock worth $73,335,967. Insiders own 77.03% of the company’s stock.

Shares of CLR stock opened at $41.46 on Monday. Continental Resources, Inc. has a 52 week low of $35.54 and a 52 week high of $71.95. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $15.62 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.45.

Continental Resources (NYSE:CLR) last issued its earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.11. Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Continental Resources, Inc. will post 2.77 earnings per share for the current year.

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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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