Continental Resources (NYSE:CLR) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other research firms also recently issued reports on CLR. Barclays restated an “overweight” rating and issued a $58.00 price target (up from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Tudor Pickering downgraded Continental Resources from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Morgan Stanley raised their price target on Continental Resources from $56.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Susquehanna Bancshares restated a “neutral” rating and issued a $61.00 price target on shares of Continental Resources in a research note on Wednesday, January 17th. Finally, UBS downgraded Continental Resources from a “positive” rating to a “neutral” rating in a research note on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.98.
Continental Resources stock opened at $58.00 on Thursday. The stock has a market capitalization of $21,653.71, a price-to-earnings ratio of 27.49 and a beta of 1.45. Continental Resources has a 52 week low of $29.08 and a 52 week high of $59.47. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $978.63 million. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. The company’s revenue for the quarter was up 90.5% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. research analysts predict that Continental Resources will post 2.37 earnings per share for the current year.
In other Continental Resources news, CFO John D. Hart sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $53.13, for a total transaction of $796,950.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total value of $560,200.00. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 156,909 shares of company stock worth $7,846,156. Insiders own 76.87% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings 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 worth $251,860,000 after purchasing an additional 64,943 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Continental Resources by 1.5% in the fourth quarter. TIAA CREF Investment Management LLC now owns 2,920,011 shares of the oil and natural gas company’s stock worth $154,673,000 after purchasing an additional 43,649 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Continental Resources by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 1,978,228 shares of the oil and natural gas company’s stock worth $104,787,000 after purchasing an additional 65,229 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Continental Resources by 1.5% in the fourth quarter. Jennison Associates LLC now owns 1,631,882 shares of the oil and natural gas company’s stock worth $86,441,000 after purchasing an additional 24,848 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Continental Resources by 101.1% in the third quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock worth $57,798,000 after purchasing an additional 748,025 shares during the last quarter. 22.42% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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