Bluecrest Capital Management Ltd buys $11,691,927 stake in Continental Resources (CLR)

Continental Resources (CLR) : Bluecrest Capital Management Ltd scooped up 22,413 additional shares in Continental Resources during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 301,416 shares of Continental Resources which is valued at $11,691,927.Continental Resources makes up approximately 1.03% of Bluecrest Capital Management Ltd’s portfolio.

Other Hedge Funds, Including , British Airways Pensions Investment Management Ltd sold out all of its stake in CLR during the most recent quarter. The investment firm sold 715,210 shares of CLR which is valued $27,742,996.American Century Companies Inc boosted its stake in CLR in the latest quarter, The investment management firm added 310,617 additional shares and now holds a total of 2,443,744 shares of Continental Resources which is valued at $94,792,830. Continental Resources makes up approx 0.11% of American Century Companies Inc’s portfolio.Great West Life Assurance Co Can boosted its stake in CLR in the latest quarter, The investment management firm added 3,000 additional shares and now holds a total of 48,287 shares of Continental Resources which is valued at $1,799,174. Continental Resources makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.Investment Centers Of America Inc boosted its stake in CLR in the latest quarter, The investment management firm added 7,709 additional shares and now holds a total of 25,206 shares of Continental Resources which is valued at $939,176. Continental Resources makes up approx 0.10% of Investment Centers Of America Inc’s portfolio.

Continental Resources opened for trading at $38.83 and hit $40.56 on the upside on Tuesday, eventually ending the session at $40.5, with a gain of 4.54% or 1.76 points. The heightened volatility saw the trading volume jump to 46,00,261 shares. Company has a market cap of $15,170 M.

On the company’s financial health, Continental Resources reported $-0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.37. The company had revenue of $453.17 million for the quarter, compared to analysts expectations of $442.74 million. The company’s revenue was down -27.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on Continental Resources. Company shares were Reiterated by Wunderlich on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $40 .Continental Resources was Upgraded by Raymond James to ” Strong Buy” on May 5, 2016. Company shares were Upgraded by Deutsche Bank on Apr 13, 2016 to ” Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $34 .

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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