Continental Resources Inc. (CLR) Sets New 12-Month High at $50.09
Continental Resources Inc. (NYSE:CLR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.09 and last traded at $49.91, with a volume of 2,338,899 shares trading hands. The stock had previously closed at $47.84.
A number of equities research analysts have recently issued reports on CLR shares. Vetr downgraded shares of Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 price objective for the company. in a research report on Monday, May 9th. Wunderlich boosted their price objective on shares of Continental Resources from $50.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. Capital One Financial Corp. downgraded 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 report on Wednesday, June 22nd. Finally, Credit Suisse Group AG initiated coverage on shares of Continental Resources in a report on Monday, June 6th. They issued a “neutral” rating and a $43.00 target price for the company. Two research 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 stock. The stock has a consensus rating of “Buy” and an average target price of $42.59.
The stock’s 50-day moving average price is $45.02 and its 200-day moving average price is $36.62. The firm’s market cap is $18.45 billion.
Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.13 earnings per share. Analysts predict that Continental Resources Inc. will post ($0.76) EPS for the current year.
In other Continental Resources news, CFO John D. Hart sold 13,500 shares of Continental Resources stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $42.42, for a total transaction of $572,670.00. Following the transaction, the chief financial officer now directly owns 310,211 shares of the company’s stock, valued at $13,159,150.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of Continental Resources stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $45.35, for a total transaction of $453,500.00. The disclosure for this sale can be found here.
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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