Continental Resources (NYSE:CLR)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group in a research report issued on Tuesday, February 20th, Marketbeat reports. They presently have a $70.00 price target on the oil and natural gas company’s stock, up from their previous price target of $65.00. Credit Suisse Group’s price target points to a potential upside of 32.78% from the stock’s previous close.
Several other brokerages have also recently issued reports on CLR. Barclays reaffirmed an “overweight” rating and set a $58.00 target price (up previously from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Tudor Pickering lowered shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Morgan Stanley boosted their price target on shares of Continental Resources from $56.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. UBS Group lowered shares of Continental Resources from a “positive” rating to a “neutral” rating in a research note on Wednesday, January 17th. Finally, Susquehanna Bancshares restated a “neutral” rating and set a $61.00 target price on shares of Continental Resources in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Continental Resources currently has an average rating of “Buy” and an average target price of $55.66.
Continental Resources (NYSE CLR) traded up $0.92 during mid-day trading on Tuesday, reaching $52.72. 2,464,177 shares of the company were exchanged, compared to its average volume of 2,890,000. Continental Resources has a one year low of $29.08 and a one year high of $58.89. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The firm has a market cap of $19,780.00, a PE ratio of 277.47 and a beta of 1.45.
Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $978.63 million. During the same period in the previous year, the firm earned ($0.07) EPS. The business’s quarterly revenue was up 90.5% on a year-over-year basis. sell-side analysts anticipate that Continental Resources will post 2.35 earnings per share for the current year.
In other news, CEO Harold Hamm bought 99,028 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $50.26 per share, for a total transaction of $4,977,147.28. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, President Jack H. Stark sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $49.05, for a total value of $588,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 156,909 shares of company stock worth $7,846,156 and have sold 32,874 shares worth $1,645,673. 76.87% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in CLR. Ameriprise Financial Inc. boosted its position in Continental Resources by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after acquiring an additional 647 shares during the period. Stifel Financial Corp raised its stake in shares of Continental Resources by 20.7% in the 2nd quarter. Stifel Financial Corp now owns 7,533 shares of the oil and natural gas company’s stock worth $242,000 after buying an additional 1,294 shares in the last quarter. State Street Corp raised its stake in shares of Continental Resources by 14.4% in the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock worth $103,474,000 after buying an additional 403,667 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Continental Resources by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 920 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Continental Resources by 65.2% in the 2nd quarter. Sterling Capital Management LLC now owns 7,600 shares of the oil and natural gas company’s stock worth $246,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 22.42% 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.
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