Zurcher Kantonalbank Zurich Cantonalbank Trims Holdings in Continental Resources, Inc. (CLR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Continental Resources, Inc. (NYSE:CLR) by 18.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,786 shares of the oil and natural gas company’s stock after selling 4,138 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Continental Resources were worth $995,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CLR. Ameriprise Financial Inc. lifted its holdings in Continental Resources by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after buying an additional 647 shares in the last quarter. Stifel Financial Corp lifted its holdings in Continental Resources by 20.7% during the 2nd quarter. Stifel Financial Corp now owns 7,533 shares of the oil and natural gas company’s stock worth $242,000 after buying an additional 1,294 shares in the last quarter. State Street Corp lifted its holdings in Continental Resources by 14.4% during the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock worth $103,474,000 after buying an additional 403,667 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Continental Resources by 226.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,813 shares of the oil and natural gas company’s stock worth $738,000 after buying an additional 15,815 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Continental Resources by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 920 shares in the last quarter. 22.57% of the stock is currently owned by hedge funds and other institutional investors.

CLR has been the topic of several research reports. Barclays reaffirmed an “overweight” rating and set a $58.00 price objective (up previously from $53.00) on shares of Continental Resources in a report on Thursday, January 11th. Scotiabank reduced their price objective on Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, November 10th. Macquarie raised Continental Resources from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $53.57 to $55.00 in a report on Thursday, December 14th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, November 8th. Finally, Credit Suisse Group initiated coverage on Continental Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $57.00 price target on the stock. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.56.

Shares of Continental Resources, Inc. (NYSE:CLR) opened at $53.70 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. Continental Resources, Inc. has a 1 year low of $29.08 and a 1 year high of $58.89. The company has a market cap of $20,150.00, a price-to-earnings ratio of -767.14 and a beta of 1.36.

In related news, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $49.52, for a total transaction of $247,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is owned by corporate insiders.

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Continental Resources Profile

Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.

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

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