Pinebridge Investments L.P. Has $703,000 Stock Position in Continental Resources, Inc. (NYSE:CLR)

Pinebridge Investments L.P. reduced its position in Continental Resources, Inc. (NYSE:CLRGet Rating) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,758 shares of the oil and natural gas company’s stock after selling 294 shares during the period. Pinebridge Investments L.P.’s holdings in Continental Resources were worth $703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in shares of Continental Resources in the 1st quarter worth $26,000. Acadian Asset Management LLC bought a new position in shares of Continental Resources in the 1st quarter worth $36,000. Atlas Capital Advisors LLC bought a new position in shares of Continental Resources in the 1st quarter worth $47,000. Steward Partners Investment Advisory LLC boosted its position in shares of 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 during the last quarter. Finally, Venture Visionary Partners LLC bought a new position in shares of Continental Resources in the 2nd quarter worth $68,000. 13.41% of the stock is owned by institutional investors and hedge funds.

Continental Resources Price Performance

NYSE:CLR opened at $74.14 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.93 and a current ratio of 0.99. The stock’s 50-day simple moving average is $70.42 and its 200 day simple moving average is $66.99. The company has a market cap of $26.91 billion, a P/E ratio of 7.53, a P/E/G ratio of 0.20 and a beta of 2.32. Continental Resources, Inc. has a 52-week low of $40.75 and a 52-week high of $75.49.

Continental Resources (NYSE:CLRGet Rating) last released its earnings results on Wednesday, November 2nd. The oil and natural gas company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.10). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Continental Resources had a net margin of 40.29% and a return on equity of 45.89%. Continental Resources’s revenue was up 82.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. As a group, sell-side analysts forecast that Continental Resources, Inc. will post 11.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Cowen set a $70.00 target price on Continental Resources in a report on Tuesday, July 19th. StockNews.com assumed coverage on Continental Resources in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays reduced their target price on Continental Resources from $73.00 to $70.00 and set an “underweight” rating on the stock in a report on Wednesday, August 31st. Scotiabank lowered Continental Resources from a “sector outperform” rating to a “sector perform” rating in a report on Monday, August 1st. Finally, Raymond James lowered Continental Resources from an “outperform” rating to a “market perform” rating and set a $74.00 target price on the stock. in a report on Monday, October 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.00.

Continental Resources Company Profile

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Continental Resources, Inc is an independent oil producer engaged in the exploration, development, and production of crude oil and natural gas. The firm’s operations include horizontal drilling and protecting groundwater. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.

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

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