Impala Asset Management Lowers stake in Continental Resources (CLR)

Continental Resources (CLR) : Impala Asset Management reduced its stake in Continental Resources by 11.24% during the most recent quarter end. The investment management company now holds a total of 910,800 shares of Continental Resources which is valued at $42,579,900 after selling 115,339 shares in Continental Resources , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Continental Resources makes up approximately 2.84% of Impala Asset Management’s portfolio.

Other Hedge Funds, Including , Bridgecreek Investment Management added CLR to its portfolio by purchasing 5,550 company shares during the most recent quarter which is valued at $259,463. Continental Resources makes up approx 0.08% of Bridgecreek Investment Management’s portfolio.Blackrock Japan Ltd reduced its stake in CLR by selling 12 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 153,145 shares of CLR which is valued at $7,159,529. Continental Resources makes up approx 0.02% of Blackrock Japan Ltd’s portfolio. Meeder Asset Management Inc added CLR to its portfolio by purchasing 180 company shares during the most recent quarter which is valued at $8,082. Fox Run Management L.l.c. added CLR to its portfolio by purchasing 4,800 company shares during the most recent quarter which is valued at $222,720. Continental Resources makes up approx 0.10% of Fox Run Management L.l.c.’s portfolio.

Continental Resources opened for trading at $48.97 and hit $49.92 on the upside on Monday, eventually ending the session at $49.66, with a gain of 0.75% or 0.37 points. The heightened volatility saw the trading volume jump to 14,53,596 shares. Company has a market cap of $18,601 M.

On the company’s financial health, Continental Resources reported $-0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.17. The company had revenue of $525.70 million for the quarter, compared to analysts expectations of $563.20 million. The company’s revenue was down -33.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Continental Resources. Company shares were Reiterated by Wunderlich on Aug 19, 2016 to “Buy”, Firm has raised the Price Target to $ 59 from a previous price target of $50 .Continental Resources was Initiated by Wells Fargo to “Outperform” on Aug 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 51 from a previous price target of $48 .

Continental Resources Inc. is an independent crude oil and natural gas exploration and production company. The Company owns 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. The Bakken field of North Dakota and Montana is a crude oil resource play. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River including various plays in the South Central Oklahoma Oil Province (SCOOP) Northwest Cana and Arkoma areas of Oklahoma. The East region comprises undeveloped leasehold acreage east of the Mississippi River.

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