Continental Resources Inc. (CLR) Shares Gap Up to $47.47
Shares of Continental Resources Inc. (NYSE:CLR) gapped up before the market opened on Thursday . The stock had previously closed at $47.29, but opened at $47.47. Continental Resources shares last traded at $48.33, with a volume of 1,207,383 shares.
A number of equities analysts have weighed in on CLR shares. Canaccord Genuity reissued a “buy” rating and issued a $51.00 price objective on shares of Continental Resources in a research report on Thursday. Zacks Investment Research cut shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. RBC Capital Markets reissued an “outperform” rating and issued a $51.00 price objective (up from $48.00) on shares of Continental Resources in a research report on Friday, August 5th. Simmons upped their price objective on shares of Continental Resources from $32.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, May 18th. Finally, Vetr raised shares of Continental Resources from a “sell” rating to a “hold” rating and set a $37.50 price objective for the company in a research report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $42.28.
The company’s 50 day moving average is $44.85 and its 200 day moving average is $35.98. The stock’s market capitalization is $18.03 billion.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results 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. The company had revenue of $525.70 million for the quarter, compared to analysts’ expectations of $518.42 million. The firm’s revenue was down 33.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. Analysts forecast that Continental Resources Inc. will post ($0.76) earnings per share for the current year.
In related news, Director David L. Boren sold 5,000 shares of Continental Resources stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $41.10, for a total transaction of $205,500.00. Following the completion of the transaction, the director now directly owns 19,214 shares of the company’s stock, valued at approximately $789,695.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Glen A. Brown sold 15,000 shares of Continental Resources stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $40.62, for a total transaction of $609,300.00. Following the transaction, the senior vice president now directly owns 145,890 shares of the company’s stock, valued at $5,926,051.80. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in 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 worth $1,766,000 after buying an additional 36,761 shares in the last quarter. Bridgewater Associates LP increased its position 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 worth $2,643,000 after buying an additional 9,900 shares in the last quarter. Finally, Marshall Wace LLP increased its position 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 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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