Verition Fund Management LLC Sells 1,977 Shares of Continental Resources, Inc. (CLR)

Verition Fund Management LLC lessened its holdings in shares of Continental Resources, Inc. (NYSE:CLR) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,797 shares of the oil and natural gas company’s stock after selling 1,977 shares during the quarter. Verition Fund Management LLC’s holdings in Continental Resources were worth $958,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CLR. FMR LLC increased its stake in Continental Resources by 16.9% during the 2nd quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock valued at $970,474,000 after purchasing an additional 2,170,030 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Continental Resources by 2,513.9% in the 1st quarter. Point72 Asset Management L.P. now owns 1,306,929 shares of the oil and natural gas company’s stock worth $77,043,000 after acquiring an additional 1,256,929 shares in the last quarter. Millennium Management LLC grew its stake in shares of Continental Resources by 269.1% in the 2nd quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock worth $91,673,000 after acquiring an additional 1,032,069 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Continental Resources by 2,976.3% in the 2nd quarter. Voya Investment Management LLC now owns 825,169 shares of the oil and natural gas company’s stock worth $53,438,000 after acquiring an additional 798,346 shares in the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in shares of Continental Resources by 725.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 704,318 shares of the oil and natural gas company’s stock worth $45,612,000 after acquiring an additional 619,027 shares in the last quarter. Institutional investors and hedge funds own 22.52% of the company’s stock.

Shares of NYSE:CLR opened at $62.23 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $23.40 billion, a P/E ratio of 122.02, a P/E/G ratio of 1.34 and a beta of 1.30. Continental Resources, Inc. has a fifty-two week low of $36.05 and a fifty-two week high of $69.91.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. analysts expect that Continental Resources, Inc. will post 3.14 EPS for the current year.

CLR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “strong-buy” rating and set a $72.00 target price for the company in a research note on Wednesday, July 4th. Morgan Stanley reduced their target price on shares of Continental Resources from $97.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. TD Securities initiated coverage on shares of Continental Resources in a research note on Thursday, July 5th. They issued a “hold” rating and a $73.00 target price for the company. Bank of America upped their target price on shares of Continental Resources from $84.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 target price on shares of Continental Resources in a research note on Thursday, August 30th. Twelve equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.09.

About Continental Resources

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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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