Continental Resources, Inc. (NYSE:CLR) Director John T. Mcnabb II Buys 1,000 Shares

Continental Resources, Inc. (NYSE:CLR) Director John T. Mcnabb II bought 1,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $39.88 per share, with a total value of $39,880.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

CLR traded up $0.34 during midday trading on Monday, reaching $42.43. The company had a trading volume of 1,793,345 shares, compared to its average volume of 2,447,942. 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 company has a market capitalization of $16.31 billion, a PE ratio of 14.94, a PEG ratio of 1.30 and a beta of 1.67. Continental Resources, Inc. has a 12-month low of $34.61 and a 12-month high of $71.95. The business’s 50-day moving average price is $39.52.

Continental Resources (NYSE:CLR) last released its earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share 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 firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts anticipate that Continental Resources, Inc. will post 2.79 EPS for the current year.

Continental Resources announced that its board has initiated a stock repurchase plan on Monday, June 3rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the oil and natural gas company to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 6th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Continental Resources in the 4th quarter worth approximately $52,621,000. American Century Companies Inc. boosted its stake in shares of Continental Resources by 142.6% in the 4th quarter. American Century Companies Inc. now owns 823,493 shares of the oil and natural gas company’s stock valued at $33,096,000 after purchasing an additional 484,089 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Continental Resources by 275.4% in the 1st quarter. Bank of Montreal Can now owns 424,374 shares of the oil and natural gas company’s stock valued at $18,999,000 after purchasing an additional 311,330 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Continental Resources by 26.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,220,703 shares of the oil and natural gas company’s stock valued at $49,059,000 after purchasing an additional 257,350 shares in the last quarter. Finally, Bluestein R H & Co. boosted its stake in shares of Continental Resources by 141.9% in the 1st quarter. Bluestein R H & Co. now owns 433,331 shares of the oil and natural gas company’s stock valued at $19,400,000 after purchasing an additional 254,206 shares in the last quarter. 20.08% of the stock is currently owned by institutional investors.

Several research firms have weighed in on CLR. ValuEngine downgraded shares of Continental Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 1st. Seaport Global Securities reiterated a “buy” rating on shares of Continental Resources in a report on Friday, June 21st. Morgan Stanley set a $53.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a report on Monday, June 24th. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Thursday, May 2nd. Finally, Barclays reiterated a “buy” rating and set a $57.00 price objective on shares of Continental Resources in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $62.04.

Continental Resources Company 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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