Isthmus Partners Lowers stake in Continental Resources (CLR)

Continental Resources (CLR) : Isthmus Partners reduced its stake in Continental Resources by 10.55% during the most recent quarter end. The investment management company now holds a total of 143,175 shares of Continental Resources which is valued at $6,669,092 after selling 16,878 shares in Continental Resources , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Continental Resources makes up approximately 2.09% of Isthmus Partners’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in CLR in the latest quarter, The investment management firm added 773 additional shares and now holds a total of 186,283 shares of Continental Resources which is valued at $8,360,381. Continental Resources makes up approx 0.02% of California State Teachers Retirement System’s portfolio. Strs Ohio sold out all of its stake in CLR during the most recent quarter. The investment firm sold 2,558 shares of CLR which is valued $106,924.Checchi Capital Advisers reduced its stake in CLR by selling 59 shares or 3.19% in the most recent quarter. The Hedge Fund company now holds 1,793 shares of CLR which is valued at $80,506. Continental Resources makes up approx 0.02% of Checchi Capital Advisers’s portfolio.

Continental Resources opened for trading at $46.93 and hit $47.95 on the upside on Monday, eventually ending the session at $47.54, with a gain of 1.69% or 0.79 points. The heightened volatility saw the trading volume jump to 21,54,791 shares. Company has a market cap of $17,807 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 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. Company shares were Downgraded by KLR Group on Jul 18, 2016 to ” Accumulate”, Firm has raised the Price Target to $ 54 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *