Continental Resources Inc. (CLR) Shares Up 7%
Continental Resources Inc. (NYSE:CLR)’s share price shot up 7% during trading on Tuesday . The company traded as high as $45.67 and last traded at $45.42, with a volume of 2,621,155 shares traded. The stock had previously closed at $42.44.
A number of brokerages have recently commented on CLR. Vetr raised Continental Resources from a “sell” rating to a “hold” rating and set a $37.50 price objective for the company in a research report on Monday, May 2nd. Simmons upped their price target on Continental Resources from $32.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, May 18th. Deutsche Bank AG upped their price target on Continental Resources from $48.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Stifel Nicolaus downgraded Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th. Finally, BMO Capital Markets raised Continental Resources from a “neutral” rating to a “buy” rating and lowered their price target for the company from $39.58 to $37.00 in a report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $38.57.
The stock has a 50 day moving average price of $43.15 and a 200 day moving average price of $31.65. The firm’s market cap is $16.58 billion.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.04. The firm earned $453.17 million during the quarter, compared to the consensus estimate of $444.84 million. The business’s quarterly revenue was down 27.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, equities research analysts predict that Continental Resources Inc. will post ($0.88) earnings per share for the current year.
In other news, SVP Glen A. Brown sold 15,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $5,926,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the business’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $45.35, for a total value of $453,500.00. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in CLR. Numeric Investors LLC raised its stake in shares of Continental Resources by 284.6% in the fourth quarter. Numeric Investors LLC now owns 45,000 shares of the company’s stock worth $1,034,000 after buying an additional 33,300 shares during the period. Quantitative Investment Management LLC raised its stake in shares of 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 during the period. Henderson Group PLC raised its stake in shares of Continental Resources by 1,493.2% in the fourth quarter. Henderson Group PLC now owns 69,145 shares of the company’s stock worth $1,589,000 after buying an additional 64,805 shares during the period. First Trust Advisors LP raised its stake in shares of Continental Resources by 91.7% in the fourth quarter. First Trust Advisors LP now owns 76,870 shares of the company’s stock worth $1,766,000 after buying an additional 36,761 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. raised its stake in shares of 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 during the period.
Continental Resources, Inc is an independent crude oil and natural gas exploration and production 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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