Isthmus Partners LLC Cuts Stake in Continental Resources, Inc. (NYSE:CLR)

Isthmus Partners LLC lowered its position in shares of Continental Resources, Inc. (NYSE:CLR) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,618 shares of the oil and natural gas company’s stock after selling 10,118 shares during the period. Isthmus Partners LLC’s holdings in Continental Resources were worth $4,435,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Continental Resources by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 163,253 shares of the oil and natural gas company’s stock valued at $4,223,000 after purchasing an additional 3,208 shares in the last quarter. We Are One Seven LLC bought a new stake in Continental Resources during the second quarter valued at about $808,000. Canada Pension Plan Investment Board boosted its position in Continental Resources by 47.7% during the first quarter. Canada Pension Plan Investment Board now owns 142,483 shares of the oil and natural gas company’s stock valued at $3,686,000 after purchasing an additional 45,984 shares in the last quarter. Avalon Investment & Advisory boosted its position in Continental Resources by 9.7% during the second quarter. Avalon Investment & Advisory now owns 289,070 shares of the oil and natural gas company’s stock valued at $10,993,000 after purchasing an additional 25,609 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new stake in Continental Resources during the first quarter valued at about $252,000. Hedge funds and other institutional investors own 13.14% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Continental Resources from $33.00 to $34.00 and gave the company an “underweight” rating in a research report on Monday, August 23rd. Raymond James raised their price target on Continental Resources from $43.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, August 31st. Barclays downgraded Continental Resources from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $25.00 to $33.00 in a report on Thursday, June 3rd. MKM Partners raised Continental Resources from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $46.00 in a report on Thursday, July 15th. Finally, KeyCorp raised their price target on Continental Resources from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, June 17th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.81.

CLR stock traded up $2.26 during trading on Wednesday, hitting $41.71. 66,064 shares of the company traded hands, compared to its average volume of 2,101,735. The stock’s 50-day simple moving average is $36.19 and its 200 day simple moving average is $32.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.11 and a quick ratio of 1.04. The company has a market cap of $15.33 billion, a PE ratio of 40.60, a P/E/G ratio of 1.14 and a beta of 3.37. Continental Resources, Inc. has a 1 year low of $11.09 and a 1 year high of $41.01.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Sunday, August 1st. The oil and natural gas company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.36. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Continental Resources had a return on equity of 7.09% and a net margin of 9.47%. Continental Resources’s quarterly revenue was up 603.2% on a year-over-year basis. During the same period last year, the business earned ($0.71) earnings per share. Research analysts expect that Continental Resources, Inc. will post 3.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Tuesday, August 10th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 9th. This is a boost from Continental Resources’s previous quarterly dividend of $0.11. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. Continental Resources’s payout ratio is -51.28%.

About Continental Resources

Continental Resources, Inc engages in the exploration, development and production of crude oil and natural gas. The firm sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies. The company was founded by Harold G.

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

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