Continental Resources’ (NYSE:CLR) “Neutral” Rating Reaffirmed at Susquehanna Bancshares

Continental Resources (NYSE:CLR)‘s stock had its “neutral” rating reiterated by Susquehanna Bancshares in a research report issued to clients and investors on Wednesday, January 17th, Marketbeat reports. They currently have a $61.00 target price on the oil and natural gas company’s stock. Susquehanna Bancshares’ price target would suggest a potential upside of 24.34% from the company’s previous close.

A number of other equities analysts also recently weighed in on CLR. UBS Group downgraded Continental Resources from a “positive” rating to a “neutral” rating in a research report on Wednesday, January 17th. Imperial Capital raised Continental Resources from an “in-line” rating to an “outperform” rating and set a $60.00 price target on the stock in a research report on Thursday, November 9th. Robert W. Baird set a $40.00 price target on Continental Resources and gave the stock a “hold” rating in a research report on Thursday, October 12th. BMO Capital Markets reissued a “buy” rating on shares of Continental Resources in a research report on Sunday, November 12th. Finally, Zacks Investment Research raised Continental Resources from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a research report on Friday, January 5th. Nine research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Continental Resources presently has an average rating of “Buy” and a consensus target price of $53.56.

Shares of Continental Resources (NYSE:CLR) traded up $0.05 during midday trading on Wednesday, reaching $49.06. The company’s stock had a trading volume of 4,086,877 shares, compared to its average volume of 2,210,000. The firm has a market capitalization of $18,410.00, a P/E ratio of -700.86 and a beta of 1.36. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. Continental Resources has a 1 year low of $29.08 and a 1 year high of $58.89.

In related news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total value of $247,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark E. Monroe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were 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. In the last 90 days, insiders have sold 52,874 shares of company stock valued at $2,603,673. Corporate insiders own 76.87% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. FMR LLC boosted 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 valued at $427,027,000 after buying an additional 1,875,103 shares during the period. Vanguard Group Inc. boosted 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 valued at $263,485,000 after buying an additional 1,703,303 shares during the period. BlackRock Inc. boosted its stake in shares of Continental Resources by 1.4% in the fourth quarter. BlackRock Inc. now owns 4,754,734 shares of the oil and natural gas company’s stock valued at $251,860,000 after buying an additional 64,943 shares during the period. State Street Corp boosted its stake in shares of Continental Resources by 14.4% in the second quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock valued at $103,474,000 after buying an additional 403,667 shares during the period. Finally, Renaissance Technologies LLC boosted 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 valued at $93,518,000 after buying an additional 2,389,400 shares during the period. Institutional investors and hedge funds own 22.54% of the company’s stock.

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About Continental Resources

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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