Continental Resources Inc. (CLR) Shares Gap Up to $47.47
Continental Resources Inc. (NYSE:CLR) shares gapped up prior to trading 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 traded.
Several research analysts have recently weighed in on CLR shares. Vetr cut shares of Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 price target on the stock. in a report on Monday, May 9th. Capital One Financial Corp. cut shares of Continental Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 27th. They noted that the move was a valuation call. Scotiabank upped their target price on shares of Continental Resources from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 22nd. Credit Suisse Group AG started coverage on shares of Continental Resources in a research report on Monday, June 6th. They issued a “neutral” rating and a $43.00 target price for the company. Finally, Stephens set a $54.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.59.
The stock has a 50 day moving average of $44.95 and a 200 day moving average of $36.19. The company’s market cap is $18.05 billion.
Continental Resources (NYSE:CLR) last released 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. The business had revenue of $525.70 million for the quarter, compared to the consensus estimate of $518.42 million. Continental Resources’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. On average, equities analysts expect that Continental Resources Inc. will post ($0.76) EPS for the current fiscal year.
In other news, CFO John D. Hart sold 13,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $42.42, for a total value 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 through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $43.32, for a total transaction of $433,200.00. Following the completion of the sale, the senior vice president now directly owns 173,136 shares of the company’s stock, valued at approximately $7,500,251.52. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Continental Resources stock. Bridgewater Associates LP raised its stake in Continental Resources Inc. (NYSE:CLR) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 115,000 shares of the company’s stock after buying an additional 9,900 shares during the period. Bridgewater Associates LP’s holdings in Continental Resources were worth $2,643,000 at the end of the most recent 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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