Capital Advisors Incok Lowers stake in Continental Resources (CLR)

Continental Resources (CLR) : Capital Advisors Incok reduced its stake in Continental Resources by 57.72% during the most recent quarter end. The investment management company now holds a total of 224,595 shares of Continental Resources which is valued at $10,461,635 after selling 306,585 shares in Continental Resources , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Continental Resources makes up approximately 1.56% of Capital Advisors Incok’s portfolio.

Other Hedge Funds, Including , Investment Centers Of America Inc sold out all of its stake in CLR during the most recent quarter. The investment firm sold 25,206 shares of CLR which is valued $1,152,670.Central Trust Co boosted its stake in CLR in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 950 shares of Continental Resources which is valued at $44,251.Ci Investments reduced its stake in CLR by selling 4,370 shares or 3.88% in the most recent quarter. The Hedge Fund company now holds 108,210 shares of CLR which is valued at $4,835,905. Continental Resources makes up approx 0.06% of Ci Investments’s portfolio.Waratah Capital Advisors Ltd. reduced its stake in CLR by selling 232,569 shares or 47.03% in the most recent quarter. The Hedge Fund company now holds 261,967 shares of CLR which is valued at $11,707,305. Continental Resources makes up approx 2.30% of Waratah Capital Advisors Ltd.’s portfolio.Morningstar Investment Services reduced its stake in CLR by selling 129,478 shares or 33.55% in the most recent quarter. The Hedge Fund company now holds 256,398 shares of CLR which is valued at $11,458,427. Continental Resources makes up approx 0.36% of Morningstar Investment Services’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. 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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