Continental Resources Inc. (NYSE:CLR)’s share price traded down 3.7% during mid-day trading on Thursday . The company traded as low as $42.51 and last traded at $42.59, with a volume of 2,225,019 shares. The stock had previously closed at $44.24.

A number of equities analysts have recently issued reports on the company. Scotiabank upped their price target on Continental Resources from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 22nd. Canaccord Genuity upped their target price on Continental Resources to $50.00 and gave the company a “buy” rating in a research report on Monday, June 20th. Nomura Holdings Inc. reissued a “buy” rating and issued a $50.00 target price (up from $25.00) on shares of Continental Resources in a research report on Wednesday, May 25th. Simmons upped their target price on Continental Resources from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, May 18th. Finally, Credit Suisse Group AG assumed coverage on Continental Resources in a research report on Monday, June 6th. They issued a “neutral” rating and a $43.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned 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 price target of $38.57.

The stock’s market capitalization is $15.79 billion. The stock has a 50 day moving average price of $42.76 and a 200 day moving average price of $31.02.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.04. During the same quarter last year, the business posted ($0.09) EPS. The firm had revenue of $453.17 million for the quarter, compared to analyst estimates of $444.84 million. The firm’s revenue for the quarter was down 27.6% on a year-over-year basis. Analysts forecast that Continental Resources Inc. will post ($0.92) earnings per share for the current fiscal year.

In related news, SVP Eric Spencer Eissenstat sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $45.35, for a total transaction of $453,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Glen A. Brown sold 15,000 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $40.62, for a total transaction of $609,300.00. Following the sale, the senior vice president now directly owns 145,890 shares in the company, valued at approximately $5,926,051.80. The disclosure for this sale can be found here.

A number of hedge funds recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Continental Resources by 69.8% in the fourth quarter. Morgan Stanley now owns 2,106,900 shares of the company’s stock worth $48,417,000 after buying an additional 866,217 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. increased its stake in Continental Resources by 2.2% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 134,098 shares of the company’s stock worth $2,984,000 after buying an additional 2,824 shares in the last quarter. Quantitative Investment Management LLC increased its stake in Continental Resources by 37.3% in the fourth quarter. Quantitative Investment Management LLC now owns 65,200 shares of the company’s stock worth $1,498,000 after buying an additional 17,700 shares in the last quarter. South Dakota Investment Council increased its stake in Continental Resources by 46.4% in the fourth quarter. South Dakota Investment Council now owns 916,140 shares of the company’s stock worth $21,053,000 after buying an additional 290,500 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in Continental Resources by 43.4% in the fourth quarter. State of Wisconsin Investment Board now owns 163,416 shares of the company’s stock worth $3,755,000 after buying an additional 49,460 shares in the last quarter.

Continental Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company owns 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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