Continental Resources Inc. (CLR) Reaches New 12-Month High at $47.03
Continental Resources Inc. (NYSE:CLR) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $47.03 and last traded at $45.73, with a volume of 1,065,524 shares changing hands. The stock had previously closed at $46.40.
A number of research firms have issued reports on CLR. Nomura Holdings Inc. reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $25.00) on shares of Continental Resources in a research report on Wednesday, May 25th. KLR Group lowered Continental Resources from a “buy” rating to an “accumulate” rating and increased their price target for the company from $48.00 to $54.00 in a research report on Monday. Deutsche Bank AG raised Continental Resources from a “hold” rating to a “buy” rating and increased their price target for the company from $34.00 to $40.00 in a research report on Wednesday, April 13th. Vetr lowered Continental Resources from a “hold” rating to a “sell” rating and set a $37.50 price target on the stock. in a research report on Tuesday, April 26th. Finally, BMO Capital Markets raised Continental Resources from a “neutral” rating to a “buy” rating and reduced their price target for the company from $39.58 to $37.00 in a research report on Thursday, May 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.36.
The firm has a 50-day moving average price of $43.69 and a 200-day moving average price of $32.43. The company’s market capitalization is $16.81 billion.
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. The business earned $453.17 million during the quarter, compared to analysts’ expectations of $444.84 million. The business’s quarterly revenue was down 27.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. Equities analysts anticipate that Continental Resources Inc. will post ($0.81) EPS for the current year.
In other Continental Resources news, SVP Steven K. Owen sold 14,000 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $40.13, for a total transaction of $561,820.00. Following the completion of the transaction, the senior vice president now directly owns 96,791 shares of the company’s stock, valued at approximately $3,884,222.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the stock in a transaction on Thursday, June 23rd. The shares were 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.
Other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its position in shares of 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 during the last quarter. Dimensional Fund Advisors LP raised its stake in Continental Resources by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 776,519 shares of the company’s stock valued at $17,840,000 after buying an additional 34,011 shares in the last quarter. Russell Frank Co raised its stake in Continental Resources by 36.9% in the fourth quarter. Russell Frank Co now owns 308,359 shares of the company’s stock valued at $6,861,000 after buying an additional 83,060 shares in the last quarter. Marshall Wace LLP raised its stake in Continental Resources by 328.3% in the fourth quarter. Marshall Wace LLP now owns 296,700 shares of the company’s stock valued at $6,818,000 after buying an additional 227,429 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Continental Resources during the fourth quarter valued at $4,521,000.
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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