Continental Resources Inc. (CLR) Reaches New 52-Week High at $47.95
Shares of Continental Resources Inc. (NYSE:CLR) reached a new 52-week high on Monday . The company traded as high as $47.95 and last traded at $47.77, with a volume of 1,118,599 shares trading hands. The stock had previously closed at $46.75.
A number of research firms have weighed in on CLR. Scotiabank raised their price target on Continental Resources from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, June 22nd. Wunderlich raised their price target on Continental Resources from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 6th. BMO Capital Markets upgraded Continental Resources from a “neutral” rating to a “buy” rating and cut their price target for the company from $39.58 to $37.00 in a research note on Thursday, May 5th. Vetr cut Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 target price on the stock. in a research report on Monday, May 9th. Finally, Deutsche Bank AG lifted their target price on Continental Resources from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Continental Resources has an average rating of “Buy” and an average price target of $41.82.
The firm’s 50-day moving average is $44.37 and its 200 day moving average is $35.18. The firm’s market capitalization is $17.70 billion.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.01. During the same period in the previous year, the business earned $0.13 EPS. The firm had revenue of $525.70 million for the quarter, compared to analyst estimates of $518.42 million. Continental Resources’s quarterly revenue was down 33.5% on a year-over-year basis. Analysts anticipate that Continental Resources Inc. will post ($0.74) earnings per share for the current fiscal year.
In related news, SVP Glen A. Brown sold 15,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 145,890 shares in the company, valued at $5,926,051.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Boren sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $41.10, for a total transaction of $205,500.00. Following the sale, the director now owns 19,214 shares of the company’s stock, valued at $789,695.40. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. First Trust Advisors LP raised its position in 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 in the last quarter. State of Wisconsin Investment Board raised its position 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. Mizuho Trust & Banking Co. Ltd. raised its position 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. Morgan Stanley raised its position 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. Finally, Marshall Wace LLP raised its position in Continental Resources by 328.3% in the fourth quarter. Marshall Wace LLP now owns 296,700 shares of the company’s stock worth $6,818,000 after buying an additional 227,429 shares in the last quarter.
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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