AdvisorNet Financial Inc Boosts Stock Holdings in Continental Resources, Inc. (NYSE:CLR)

AdvisorNet Financial Inc grew its position in Continental Resources, Inc. (NYSE:CLRGet Rating) by 18.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,320 shares of the oil and natural gas company’s stock after buying an additional 210 shares during the period. AdvisorNet Financial Inc’s holdings in Continental Resources were worth $86,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in Continental Resources in the 1st quarter worth approximately $26,000. Acadian Asset Management LLC acquired a new stake in Continental Resources in the 1st quarter worth approximately $36,000. Atlas Capital Advisors LLC acquired a new stake in Continental Resources in the 1st quarter worth approximately $47,000. Steward Partners Investment Advisory LLC boosted its stake in Continental Resources by 507.8% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 778 shares of the oil and natural gas company’s stock worth $48,000 after purchasing an additional 650 shares in the last quarter. Finally, Bivin & Associates Inc. acquired a new stake in Continental Resources in the 4th quarter worth approximately $64,000. 13.41% of the stock is currently owned by institutional investors.

Continental Resources Trading Down 0.9 %

Shares of CLR opened at $69.08 on Thursday. Continental Resources, Inc. has a 52-week low of $40.75 and a 52-week high of $75.49. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm’s fifty day moving average is $68.33 and its two-hundred day moving average is $64.86. The stock has a market cap of $25.08 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 0.15 and a beta of 2.48.

Continental Resources (NYSE:CLRGet Rating) last announced its earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.17 by $0.30. Continental Resources had a net margin of 37.73% and a return on equity of 40.32%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 114.6% on a year-over-year basis. Research analysts forecast that Continental Resources, Inc. will post 12.42 earnings per share for the current fiscal year.

Continental Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.62%. Continental Resources’s payout ratio is 13.91%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CLR. Piper Sandler cut shares of Continental Resources from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $76.00 to $70.00 in a research note on Tuesday, August 2nd. Wells Fargo & Company cut shares of Continental Resources from an “overweight” rating to an “equal weight” rating and set a $82.00 price objective for the company. in a research note on Wednesday, June 15th. Barclays decreased their price objective on shares of Continental Resources from $73.00 to $70.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Credit Suisse Group set a $78.00 price objective on shares of Continental Resources in a research note on Monday, June 20th. Finally, StockNews.com upgraded shares of Continental Resources from a “hold” rating to a “buy” rating in a research note on Friday, September 16th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $69.14.

About Continental Resources

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Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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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