Smithfield Trust Company Stake in Verizon Communications (VZ) Has Decreased as Share Price Declined; Geosphere Capital Management Has Increased Position in Continental Resources (CLR) by $380,000 as Stock Declined

February 23, 2018 - By Hazel Jackson

Arvind Sanger increased its stake in Continental Resources Inc (CLR) by 20% based on its latest 2017Q3 regulatory filing with the SEC. Geosphere Capital Management bought 10,000 shares as the company’s stock declined 7.27% while stock markets rallied. The hedge fund run by Arvind Sanger held 60,000 shares of the energy company at the end of 2017Q3, valued at $2.32M, up from 50,000 at the end of the previous reported quarter. Geosphere Capital Management who had been investing in Continental Resources Inc for a number of months, seems to be bullish on the $18.59B market cap company. The stock increased 3.41% or $1.65 during the last trading session, reaching $50.09. About 279,806 shares traded. Continental Resources, Inc. (NYSE:CLR) has risen 4.05% since February 23, 2017 and is uptrending. It has underperformed by 12.65% the S&P500.

Smithfield Trust Company decreased its stake in Verizon Communications (VZ) by 23.51% based on its latest 2017Q3 regulatory filing with the SEC. Smithfield Trust Company sold 9,845 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 32,025 shares of the telecommunications equipment company at the end of 2017Q3, valued at $1.59M, down from 41,870 at the end of the previous reported quarter. Smithfield Trust Company who had been investing in Verizon Communications for a number of months, seems to be less bullish one the $195.43B market cap company. The stock increased 0.08% or $0.04 during the last trading session, reaching $47.91. About 2.01M shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since February 23, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Investors sentiment is 0.88 in 2017 Q3. Its the same as in 2017Q2. It is without change, as 81 investors sold VZ shares while 696 reduced holdings. only 114 funds opened positions while 570 raised stakes. 2.53 billion shares or 1.44% more from 2.49 billion shares in 2017Q2 were reported. Gam Holdg Ag holds 0.24% or 112,874 shares in its portfolio. M Kraus And Commerce invested 0.13% in Verizon Communications Inc. (NYSE:VZ). Eastern Bankshares stated it has 331,280 shares. Dupont Cap Mgmt Corp accumulated 248,693 shares or 0.28% of the stock. 2.42 million are held by Suntrust Banks. First Heartland Consultants holds 32,078 shares. California-based Ar Asset Mngmt has invested 0.62% in Verizon Communications Inc. (NYSE:VZ). Atria Invests Limited Liability reported 119,830 shares or 0.32% of all its holdings. Cullinan Assoc has invested 0.58% in Verizon Communications Inc. (NYSE:VZ). The California-based Parallax Volatility Advisers Limited Partnership has invested 0.03% in Verizon Communications Inc. (NYSE:VZ). Fil has invested 1.19% in Verizon Communications Inc. (NYSE:VZ). California State Teachers Retirement Sys stated it has 7.13 million shares or 0.78% of all its holdings. Moreover, State Teachers Retirement has 0.86% invested in Verizon Communications Inc. (NYSE:VZ). Ajo LP invested in 7.31M shares. Massachusetts Fincl Company Ma stated it has 15.87 million shares or 0.34% of all its holdings.

Since August 28, 2017, it had 0 insider buys, and 4 insider sales for $436,322 activity. 6,967 shares were sold by Skiadas Anthony T, worth $346,957.

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on April, 19. They expect $1.09 EPS, up 14.74% or $0.14 from last year’s $0.95 per share. VZ’s profit will be $4.45B for 10.99 P/E if the $1.09 EPS becomes a reality. After $0.86 actual EPS reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts 26.74% EPS growth.

Smithfield Trust Company, which manages about $737.64 million US Long portfolio, upped its stake in Ishares Rus 1000 Etf (IWB) by 3,300 shares to 5,388 shares, valued at $754,000 in 2017Q3, according to the filing. It also increased its holding in Spdr Nuveen Bloomberg Barclays S/T Muni Bd by 87,812 shares in the quarter, for a total of 504,949 shares, and has risen its stake in Ishares Trust S&P Smallcap (IJR).

Among 28 analysts covering Verizon Communications Inc. (NYSE:VZ), 7 have Buy rating, 0 Sell and 21 Hold. Therefore 25% are positive. Verizon Communications Inc. had 74 analyst reports since July 22, 2015 according to SRatingsIntel. Scotia Capital upgraded Verizon Communications Inc. (NYSE:VZ) on Monday, January 22 to “Buy” rating. On Thursday, June 15 the stock rating was maintained by Macquarie Research with “Hold”. The firm has “Hold” rating given on Tuesday, July 18 by Cowen & Co. The firm has “Hold” rating given on Friday, August 14 by Zacks. The firm has “Mkt Perform” rating given on Wednesday, January 25 by Raymond James. Jefferies downgraded the shares of VZ in report on Thursday, April 7 to “Hold” rating. The firm has “Buy” rating given on Thursday, January 19 by HSBC. The company was maintained on Monday, September 18 by Cowen & Co. The firm earned “Hold” rating on Thursday, July 27 by Oppenheimer. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, April 18 report.

Since December 13, 2017, it had 0 insider purchases, and 1 sale for $958,024 activity.

Investors sentiment decreased to 0.77 in Q3 2017. Its down 0.31, from 1.08 in 2017Q2. It dropped, as 42 investors sold CLR shares while 107 reduced holdings. 38 funds opened positions while 77 raised stakes. 82.82 million shares or 3.64% less from 85.95 million shares in 2017Q2 were reported. Gulf Int State Bank (Uk) holds 30,134 shares. 19,816 are owned by Credit Capital Invs Ltd Llc. Moreover, Adage Prns Gru Limited Com has 0.01% invested in Continental Resources, Inc. (NYSE:CLR) for 75,000 shares. Cornerstone Advisors invested 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR). First Manhattan holds 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 500 shares. Pillar Pacific Capital Limited Liability Company invested 0.34% in Continental Resources, Inc. (NYSE:CLR). Inv Centers Of America accumulated 16,253 shares. Bluecrest Cap Mgmt owns 200,297 shares. Robeco Institutional Asset Bv holds 1,797 shares. Bessemer Gru Incorporated has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). Van Eck Assoc Corporation holds 0% in Continental Resources, Inc. (NYSE:CLR) or 21,264 shares. The New York-based Sir Mngmt Ltd Partnership has invested 6.02% in Continental Resources, Inc. (NYSE:CLR). First Republic Invest holds 0.02% in Continental Resources, Inc. (NYSE:CLR) or 56,712 shares. Walleye Trading Ltd Liability reported 21,391 shares. Bridges Inv Mgmt holds 0.43% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 86,000 shares.

Among 38 analysts covering Continental Resources Inc. (NYSE:CLR), 27 have Buy rating, 0 Sell and 11 Hold. Therefore 71% are positive. Continental Resources Inc. had 149 analyst reports since July 21, 2015 according to SRatingsIntel. Howard Weil downgraded Continental Resources, Inc. (NYSE:CLR) on Monday, May 16 to “Sector Outperform” rating. The firm has “Buy” rating by Stifel Nicolaus given on Thursday, July 13. Howard Weil upgraded the stock to “Focus Stock” rating in Friday, February 26 report. The stock of Continental Resources, Inc. (NYSE:CLR) has “Hold” rating given on Wednesday, October 14 by Deutsche Bank. Morgan Stanley maintained it with “Overweight” rating and $70 target in Wednesday, January 24 report. RBC Capital Markets maintained the stock with “Buy” rating in Thursday, February 15 report. The firm earned “Buy” rating on Tuesday, January 23 by Credit Suisse. The rating was maintained by BMO Capital Markets on Wednesday, June 21 with “Buy”. The company was reinitiated on Friday, March 18 by RBC Capital Markets. The rating was maintained by Wunderlich with “Hold” on Wednesday, September 9.

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