Continental Resources Inc. (CLR) Trading 4.4% Higher
Shares of Continental Resources Inc. (NYSE:CLR) traded up 4.4% on Friday . The company traded as high as $44.03 and last traded at $43.96, with a volume of 1,845,658 shares. The stock had previously closed at $42.10.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, July 18th. KLR Group cut shares of Continental Resources from a “buy” rating to an “accumulate” rating and increased their price objective for the stock from $48.00 to $54.00 in a report on Monday, July 18th. Scotiabank increased their price objective on shares of Continental Resources from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, June 22nd. Canaccord Genuity increased their price objective on shares of Continental Resources to $50.00 and gave the stock a “buy” rating in a report on Monday, June 20th. Finally, Nomura reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $25.00) on shares of Continental Resources in a report on Wednesday, May 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Continental Resources presently has an average rating of “Buy” and a consensus target price of $39.36.
The company has a 50-day moving average of $43.88 and a 200 day moving average of $33.44. The stock’s market capitalization is $16.32 billion.
Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, May 4th. The company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.04. The firm had revenue of $453.17 million for the quarter, compared to the consensus estimate of $444.84 million. During the same quarter in the previous year, the company earned ($0.09) EPS. The business’s quarterly revenue was down 27.6% compared to the same quarter last year. On average, equities analysts predict that Continental Resources Inc. will post ($0.76) EPS for the current year.
In other news, SVP Steven K. Owen sold 14,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $40.13, for a total value of $561,820.00. Following the sale, the senior vice president now owns 96,791 shares in the company, valued at approximately $3,884,222.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Glen A. Brown sold 15,000 shares of the business’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $40.62, for a total transaction of $609,300.00. Following the completion of the sale, the senior vice president now 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 and institutional investors recently modified their holdings of the company. First Trust Advisors LP increased its position 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 valued at $1,766,000 after buying an additional 36,761 shares during the period. Mizuho Trust & Banking Co. Ltd. increased its position 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 valued at $2,984,000 after buying an additional 2,824 shares during the period. Morningstar Investment Services LLC bought a new position in shares of Continental Resources during the fourth quarter valued at about $3,103,000. State of Wisconsin Investment Board increased its position in shares of Continental Resources by 43.4% in the fourth quarter. State of Wisconsin Investment Board now owns 163,416 shares of the company’s stock valued at $3,755,000 after buying an additional 49,460 shares during the period. Finally, Swiss National Bank increased its position in shares of Continental Resources by 1.1% in the fourth quarter. Swiss National Bank now owns 168,256 shares of the company’s stock valued at $3,867,000 after buying an additional 1,900 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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