Icon Advisers Incco Lowers stake in Continental Resources (CLR)

Continental Resources (CLR) : Icon Advisers Incco reduced its stake in Continental Resources by 9.44% during the most recent quarter end. The investment management company now holds a total of 339,250 shares of Continental Resources which is valued at $15,802,265 after selling 35,350 shares in Continental Resources , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Continental Resources makes up approximately 1.04% of Icon Advisers Incco’s portfolio.

Other Hedge Funds, Including , Alta Advisers Ltd sold out all of its stake in CLR during the most recent quarter. The investment firm sold 166,700 shares of CLR which is valued $7,764,886.Davidson Garrard Inc boosted its stake in CLR in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 12,555 shares of Continental Resources which is valued at $561,083. Continental Resources makes up approx 0.13% of Davidson Garrard Inc’s portfolio. Guild Investment Management added CLR to its portfolio by purchasing 28,100 company shares during the most recent quarter which is valued at $1,174,580. Continental Resources makes up approx 2.13% of Guild Investment Management’s portfolio.Windward Capital Management Co Ca boosted its stake in CLR in the latest quarter, The investment management firm added 1,585 additional shares and now holds a total of 162,582 shares of Continental Resources which is valued at $7,501,533. Continental Resources makes up approx 1.40% of Windward Capital Management Co Ca’s portfolio. Cutler Group Lp added CLR to its portfolio by purchasing 4,800 company shares during the most recent quarter which is valued at $214,848. Continental Resources makes up approx 0.01% of Cutler Group Lp’s portfolio.

Continental Resources opened for trading at $46.73 and hit $47.73 on the upside on Wednesday, eventually ending the session at $47.47, with a gain of 0.87% or 0.41 points. The heightened volatility saw the trading volume jump to 21,96,908 shares. Company has a market cap of $17,780 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. 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 was Upgraded by SunTrust to ” Buy” on Aug 1, 2016.

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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