Continental Resources Inc. (CLR) Sets New 1-Year High at $47.03
Continental Resources Inc. (NYSE:CLR) shares hit a new 52-week high on Thursday . The company traded as high as $47.03 and last traded at $45.73, with a volume of 1,065,524 shares trading hands. The stock had previously closed at $46.40.
A number of research analysts have weighed in on CLR shares. Scotiabank restated an “outperform” rating and issued a $17.00 price objective on shares of Continental Resources in a report on Tuesday, June 28th. Stifel Nicolaus lowered Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th. Canaccord Genuity raised their price objective on Continental Resources to $50.00 and gave the company a “buy” rating in a report on Monday, June 20th. Vetr upgraded Continental Resources from a “strong sell” rating to a “buy” rating and set a $37.50 price objective on the stock in a report on Wednesday, April 13th. Finally, Howard Weil lowered Continental Resources from a “focus stock” rating to a “sector outperform” rating in a report on Monday, May 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and a consensus price target of $39.36.
The stock’s market capitalization is $16.63 billion. The firm’s 50 day moving average price is $43.84 and its 200 day moving average price is $32.68.
Continental Resources (NYSE:CLR) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.04. The firm earned $453.17 million during the quarter, compared to the consensus estimate of $444.84 million. Continental Resources’s revenue for the quarter was down 27.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS. On average, equities analysts expect that Continental Resources Inc. will post ($0.79) EPS for the current year.
In other news, SVP Eric Spencer Eissenstat sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $45.35, for a total value of $453,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Glen A. Brown sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $40.62, for a total value of $609,300.00. Following the completion of the transaction, the senior vice president now owns 145,890 shares in the company, valued at $5,926,051.80. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in CLR. Swiss National Bank increased its position in Continental Resources by 1.1% in the fourth quarter. Swiss National Bank now owns 168,256 shares of the company’s stock worth $3,867,000 after buying an additional 1,900 shares during the period. California State Teachers Retirement System raised its stake in Continental Resources by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 162,190 shares of the company’s stock worth $3,727,000 after buying an additional 2,402 shares during the period. Mizuho Trust & Banking Co. Ltd. raised 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 during the period. Quantitative Investment Management LLC raised 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 during the period. Finally, 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 worth $17,840,000 after buying an additional 34,011 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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