Continental Resources (CLR) Shareholder Sir Capital Management LP Has Cut Its Position by $16.06 Million; Canadian Imperial Bank Of Commerce (CM) Shareholder Scheer Rowlett & Associates Investment Management LTD Has Lowered Its Stake

June 19, 2018 - By Hazel Jackson

Continental Resources, Inc. (NYSE:CLR) Logo

Vince Maddi decreased its stake in Continental Resources Inc (CLR) by 67.54% based on its latest 2018Q1 regulatory filing with the SEC. Sir Capital Management Lp sold 276,968 shares as the company’s stock rose 28.64% while stock markets declined. The hedge fund run by Vince Maddi held 133,100 shares of the energy company at the end of 2018Q1, valued at $7.85M, down from 410,068 at the end of the previous reported quarter. Sir Capital Management Lp who had been investing in Continental Resources Inc for a number of months, seems to be less bullish one the $23.28 billion market cap company. The stock increased 0.79% or $0.49 during the last trading session, reaching $62.59. About 1.16M shares traded. Continental Resources, Inc. (NYSE:CLR) has risen 61.38% since June 19, 2017 and is uptrending. It has outperformed by 48.81% the S&P500. Some Historical CLR News: 22/05/2018 – Continental Resources Presenting at JPMorgan Conference Jun 18; 26/04/2018 – Continental Resources Announces Firm Transportation Agreement on Enable’s Project Wildcat from SCOOP and STACK to Premium Texas; 12/04/2018 – CONTINENTAL RESOURCES- AMOUNT AVAILABLE UNDER CREDIT FACILITY CAN BE INCREASED UP TO ADDITIONAL $2.5 BLN IN FUTURE UPON AGREEMENT OF CO, OTHERS; 12/04/2018 – CONTINENTAL RESOURCES SAYS UNDER CREDIT FACILITY, COMPANY HAS A BORROWING CAPACITY OF $1.5 BLN AND CREDIT FACILITY HAS A MATURITY DATE IN APRIL 2023; 29/03/2018 – Continental Resources Announces Forthcoming Departure Of Jim Gallogly From Board Of Directors; 06/03/2018 – STARK: CONTINENTAL SEEING SAND LOGISTIC ISSUES; 08/05/2018 – CONTINENTAL RESOURCES INC CLR.N : CITIGROUP RAISES TARGET PRICE TO $65 FROM $62; 30/04/2018 – CONTINENTAL RESOURCES ASSIGNED L-T IDR BBB- BY FITCH; STABLE; 20/04/2018 – CONTINENTAL RESOURCES INC CLR.N : MORGAN STANLEY NAMES CO TOP PICK IN OIL & GAS EXPLORATION IN NORTH AMERICA; 12/04/2018 – CONTINENTAL RESOURCES INC CLR.N : SIMMONS RAISES TARGET PRICE TO $67 FROM $62

Scheer Rowlett & Associates Investment Management Ltd decreased its stake in Canadian Imperial Bank Of Commerce (CM) by 3.17% based on its latest 2018Q1 regulatory filing with the SEC. Scheer Rowlett & Associates Investment Management Ltd sold 38,530 shares as the company’s stock declined 5.54% with the market. The institutional investor held 1.18 million shares of the commercial banks company at the end of 2018Q1, valued at $103.77M, down from 1.21 million at the end of the previous reported quarter. Scheer Rowlett & Associates Investment Management Ltd who had been investing in Canadian Imperial Bank Of Commerce for a number of months, seems to be less bullish one the $39.50B market cap company. The stock decreased 0.29% or $0.25 during the last trading session, reaching $87.23. About 166,443 shares traded. Canadian Imperial Bank of Commerce (NYSE:CM) has risen 13.41% since June 19, 2017 and is uptrending. It has outperformed by 0.84% the S&P500. Some Historical CM News: 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE – QTRLY ADJUSTED DILUTED EPS $2.95; 23/05/2018 – Canadian Imperial Bank 2Q Capital Markets Net C$249M; 23/05/2018 – Canadian Imperial Bank 2Q Return on Common Shareholder Equity 17%; 23/05/2018 – Canadian Imperial Bank 2Q Provision for Credit Losses C$212M; 23/05/2018 – Canadian Imperial Bank 2Q EPS C$2.89; 23/05/2018 – Canadian Imperial Bank Announces New Normal Course Issuer Bid; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE CM.TO – QTRLY SHR $2.89; 23/05/2018 – CANADIAN IMPERIAL BANK OF COMMERCE – ALL FIGURES IN C$; 23/05/2018 – Canadian Imperial Bank 2Q Adj EPS C$2.95; 23/05/2018 – Canadian Imperial Bank 2Q Canadian Commercial Banking, Wealth Management Net C$310M

Among 15 analysts covering Canadian Imperial Bank Of Commerce (NYSE:CM), 6 have Buy rating, 2 Sell and 7 Hold. Therefore 40% are positive. Canadian Imperial Bank Of Commerce had 30 analyst reports since August 4, 2015 according to SRatingsIntel. The company was maintained on Friday, August 26 by BMO Capital Markets. The firm has “Hold” rating by TD Securities given on Thursday, December 3. On Thursday, August 27 the stock rating was upgraded by Credit Suisse to “Underperform”. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) earned “Neutral” rating by Citigroup on Wednesday, October 25. The stock of Canadian Imperial Bank of Commerce (NYSE:CM) has “Strong Sell” rating given on Tuesday, September 1 by Zacks. The rating was maintained by Macquarie Research with “Neutral” on Friday, December 4. TD Securities upgraded Canadian Imperial Bank of Commerce (NYSE:CM) on Wednesday, September 6 to “Buy” rating. BMO Capital Markets maintained it with “Outperform” rating and $106 target in Monday, August 31 report. The stock has “Sector Perform” rating by RBC Capital Markets on Thursday, June 30. The firm earned “Hold” rating on Thursday, August 27 by Canaccord Genuity.

More notable recent Canadian Imperial Bank of Commerce (NYSE:CM) news were published by: Nasdaq.com which released: “Consolidated Research: 2018 Summary Expectations for Seaspan, Canadian Imperial Bank of Commerce, Bank Of …” on June 01, 2018, also Seekingalpha.com with their article: “Wall Street Breakfast: Turmoil In Italy Raises Euro Stakes” published on May 29, 2018, Seekingalpha.com published: “Bank cyber attacks reported in Canada” on May 29, 2018. More interesting news about Canadian Imperial Bank of Commerce (NYSE:CM) were released by: Fool.ca and their article: “Canadian Banks: Brace Yourself for Another Headwind” published on June 17, 2018 as well as Seekingalpha.com‘s news article titled: “If You Want To Own Your Bank, Consider Scotiabank” with publication date: June 04, 2018.

Scheer Rowlett & Associates Investment Management Ltd, which manages about $1.57B US Long portfolio, upped its stake in Transalta Corp. (NYSE:TAC) by 807,167 shares to 4.75M shares, valued at $25.74 million in 2018Q1, according to the filing. It also increased its holding in Rogers Comm Inc. Class B (NYSE:RCI) by 27,509 shares in the quarter, for a total of 982,824 shares, and has risen its stake in Canadian National Railway (NYSE:CNI).

Analysts await Canadian Imperial Bank of Commerce (NYSE:CM) to report earnings on August, 23. They expect $2.23 EPS, up 6.19% or $0.13 from last year’s $2.1 per share. CM’s profit will be $1.01 billion for 9.78 P/E if the $2.23 EPS becomes a reality. After $2.32 actual EPS reported by Canadian Imperial Bank of Commerce for the previous quarter, Wall Street now forecasts -3.88% negative EPS growth.

More important recent Continental Resources, Inc. (NYSE:CLR) news were published by: Seekingalpha.com which released: “Continental Resources Can Soar Without Bottlenecks” on June 05, 2018, also Benzinga.com published article titled: “A Look Back At What’s Happened To Each Sector Through The First Half Of 2018 (Part 2)”, Seekingalpha.com published: “Stocks To Watch: Don’t Sleep On Vienna” on June 16, 2018. More interesting news about Continental Resources, Inc. (NYSE:CLR) was released by: Seekingalpha.com and their article: “Continental Resources – The Place To Be” with publication date: June 18, 2018.

Among 42 analysts covering Continental Resources Inc. (NYSE:CLR), 29 have Buy rating, 0 Sell and 13 Hold. Therefore 69% are positive. Continental Resources Inc. had 178 analyst reports since July 21, 2015 according to SRatingsIntel. Bank of America upgraded the stock to “Buy” rating in Tuesday, January 5 report. Nomura maintained it with “Buy” rating and $54 target in Thursday, August 25 report. The stock of Continental Resources, Inc. (NYSE:CLR) has “Hold” rating given on Wednesday, April 18 by KLR Group. The rating was maintained by Barclays Capital with “Overweight” on Wednesday, October 11. BMO Capital Markets maintained the shares of CLR in report on Thursday, November 9 with “Buy” rating. The stock has “Equal-Weight” rating by Capital One on Wednesday, April 27. The firm earned “Buy” rating on Tuesday, August 15 by Piper Jaffray. Piper Jaffray maintained Continental Resources, Inc. (NYSE:CLR) on Tuesday, January 9 with “Buy” rating. The firm earned “Neutral” rating on Wednesday, January 17 by Susquehanna. The firm has “Buy” rating by Citigroup given on Monday, October 31.

Sir Capital Management Lp, which manages about $1.60B and $570.18M US Long portfolio, upped its stake in Enerplus Corp (NYSE:ERF) by 268,601 shares to 820,635 shares, valued at $9.22 million in 2018Q1, according to the filing. It also increased its holding in Oneok Inc New (NYSE:OKE) by 310,800 shares in the quarter, for a total of 441,300 shares, and has risen its stake in Whiting Pete Corp New.

Since March 1, 2018, it had 3 insider purchases, and 10 sales for $6.50 million activity. Another trade for 136,000 shares valued at $8.88 million was bought by Hamm Harold. $796,950 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Hart John D. 2,222 shares were sold by MCCAIN ELLIS L, worth $147,476. $695,001 worth of Continental Resources, Inc. (NYSE:CLR) shares were sold by Eissenstat Eric Spencer. Owen Steven K sold $1.19 million worth of stock.

Analysts await Continental Resources, Inc. (NYSE:CLR) to report earnings on August, 14. CLR’s profit will be $264.05M for 22.04 P/E if the $0.71 EPS becomes a reality. After $0.68 actual earnings per share reported by Continental Resources, Inc. for the previous quarter, Wall Street now forecasts 4.41% EPS growth.

Continental Resources, Inc. (NYSE:CLR) Institutional Positions Chart

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