Continental Resources (NYSE:CLR) Rating Reiterated by Piper Jaffray Companies

Continental Resources (NYSE:CLR)‘s stock had its “buy” rating restated by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday, January 9th. They presently have a $57.00 target price on the oil and natural gas company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 3.32% from the stock’s current price.

CLR has been the topic of a number of other research reports. TheStreet upgraded Continental Resources from a “d+” rating to a “c” rating in a research report on Friday, November 17th. Royal Bank of Canada raised their price target on Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Barclays raised their price target on Continental Resources from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, November 8th. Finally, Morgan Stanley lifted their target price on Continental Resources from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Nine investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $50.54.

Continental Resources (NYSE:CLR) opened at $55.17 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. Continental Resources has a 12-month low of $29.08 and a 12-month high of $58.89. The company has a market capitalization of $20,700.00, a price-to-earnings ratio of -788.14 and a beta of 1.44.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The company had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. During the same quarter last year, the business earned ($0.22) earnings per share. Continental Resources’s revenue was up 38.1% on a year-over-year basis. analysts expect that Continental Resources will post 0.34 EPS for the current fiscal year.

In other news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total transaction of $247,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark E. Monroe sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total value of $958,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,874 shares of company stock worth $2,603,673. Company insiders own 76.87% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of Continental Resources by 474.8% in the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock worth $93,518,000 after acquiring an additional 2,389,400 shares during the period. FMR LLC lifted its stake in shares of Continental Resources by 16.5% in the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock worth $427,027,000 after acquiring an additional 1,875,103 shares during the period. Vanguard Group Inc. lifted its stake in shares of Continental Resources by 26.4% in the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after acquiring an additional 1,703,303 shares during the period. Balyasny Asset Management LLC lifted its stake in shares of Continental Resources by 208.2% in the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock worth $77,106,000 after acquiring an additional 1,611,003 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Continental Resources in the third quarter worth approximately $52,973,000. Institutional investors own 22.55% of the company’s stock.

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Continental Resources Company Profile

Continental Resources, Inc is a crude oil and natural gas company with 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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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