Continental Resources (NYSE:CLR) had its price objective boosted by Morgan Stanley from $83.00 to $97.00 in a research report report published on Thursday morning. Morgan Stanley currently has an overweight rating on the oil and natural gas company’s stock.
Several other equities analysts have also commented on the company. Ladenburg Thalmann raised their price target on Continental Resources to $80.00 and gave the company a buy rating in a research note on Thursday, May 3rd. B. Riley assumed coverage on Continental Resources in a research note on Monday, February 5th. They set a buy rating and a $78.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Continental Resources from $53.00 to $61.00 and gave the company a neutral rating in a research note on Tuesday, May 1st. KLR Group upgraded Continental Resources from a hold rating to a buy rating and set a $66.00 price target on the stock in a research note on Friday, February 23rd. Finally, BMO Capital Markets raised their price target on Continental Resources to $65.00 and gave the company an outperform rating in a research note on Friday, February 16th. Twelve analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Continental Resources presently has a consensus rating of Buy and an average target price of $61.63.
NYSE:CLR opened at $67.04 on Thursday. Continental Resources has a twelve month low of $29.08 and a twelve month high of $69.91. The firm has a market cap of $25.45 billion, a PE ratio of 131.45 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 1.15.
Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, May 2nd. The oil and natural gas company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.04. Continental Resources had a return on equity of 9.23% and a net margin of 28.60%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 66.5% compared to the same quarter last year. sell-side analysts anticipate that Continental Resources will post 2.72 earnings per share for the current year.
In other Continental Resources news, CEO Harold Hamm purchased 31,995 shares of the stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $48.74 per share, with a total value of $1,559,436.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellis L. Mccain sold 2,222 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $66.37, for a total value of $147,474.14. The disclosure for this sale can be found here. In the last three months, insiders acquired 156,909 shares of company stock valued at $7,846,156 and sold 58,222 shares valued at $3,596,584. 76.83% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. acquired a new stake in Continental Resources in the fourth quarter worth about $102,000. Exane Derivatives acquired a new stake in Continental Resources in the fourth quarter worth about $113,000. Rockefeller Capital Management L.P. acquired a new stake in Continental Resources in the first quarter worth about $135,000. Credit Agricole S A boosted its holdings in Continental Resources by 85.7% in the first quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 1,200 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Continental Resources by 126.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after acquiring an additional 1,900 shares in the last quarter. 22.54% of the stock is owned by institutional investors and hedge funds.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.
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