Continental Resources Inc. (CLR) Reaches New 1-Year High at $47.95
Continental Resources Inc. (NYSE:CLR) shares reached a new 52-week high on Monday . The stock traded as high as $47.95 and last traded at $47.77, with a volume of 1,118,599 shares changing hands. The stock had previously closed at $46.75.
Several research analysts have weighed in on the stock. Wells Fargo & Co. assumed coverage on shares of Continental Resources in a report on Tuesday. They issued an “outperform” rating and a $54.00 price target on the stock. Zacks Investment Research cut shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. RBC Capital Markets reaffirmed an “outperform” rating and set a $51.00 target price (up from $48.00) on shares of Continental Resources in a report on Friday, August 5th. Vetr raised shares of Continental Resources from a “sell” rating to a “hold” rating and set a $37.50 target price on the stock in a report on Monday, May 2nd. Finally, Simmons raised their target price on shares of Continental Resources from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $42.24.
The company has a 50 day moving average of $44.66 and a 200-day moving average of $35.81. The firm’s market capitalization is $17.43 billion.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. During the same period last year, the business earned $0.13 earnings per share. The firm had revenue of $525.70 million for the quarter, compared to the consensus estimate of $518.42 million. The business’s quarterly revenue was down 33.5% compared to the same quarter last year. On average, analysts anticipate that Continental Resources Inc. will post ($0.74) EPS for the current year.
In other Continental Resources news, CFO John D. Hart sold 13,500 shares of the stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $42.42, for a total transaction of $572,670.00. Following the completion of the sale, the chief financial officer now owns 310,211 shares of the company’s stock, valued at approximately $13,159,150.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John D. Hart sold 2,500 shares of the stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $43.22, for a total transaction of $108,050.00. Following the sale, the chief financial officer now directly owns 320,211 shares of the company’s stock, valued at approximately $13,839,519.42. The disclosure for this sale can be found here.
Other large investors have recently made changes to their positions in the company. First Trust Advisors LP boosted 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 valued at $1,766,000 after buying an additional 36,761 shares during the last quarter. Bridgewater Associates LP boosted its stake in shares of Continental Resources by 9.4% in the fourth quarter. Bridgewater Associates LP now owns 115,000 shares of the company’s stock valued at $2,643,000 after buying an additional 9,900 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Continental Resources during the fourth quarter valued at $4,521,000. Finally, Marshall Wace LLP boosted its stake in shares of 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 during 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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