Continental Resources Inc. (CLR) Reaches New 12-Month High at $50.09
Continental Resources Inc. (NYSE:CLR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $50.09 and last traded at $49.91, with a volume of 2,338,899 shares traded. The stock had previously closed at $47.84.
CLR has been the topic of several research analyst reports. Wunderlich increased their price target on shares of Continental Resources from $50.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. Credit Suisse Group AG initiated coverage on shares of Continental Resources in a research report on Monday, June 6th. They set a “neutral” rating and a $43.00 price target on the stock. Capital One Financial Corp. cut shares of Continental Resources from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 27th. They noted that the move was a valuation call. Scotiabank increased their price target 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. Finally, Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Monday, July 18th. Two 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 stock. Continental Resources has a consensus rating of “Buy” and a consensus target price of $42.59.
The stock’s market capitalization is $18.12 billion. The company has a 50-day moving average price of $45.28 and a 200-day moving average price of $36.93.
Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $525.70 million for the quarter, compared to the consensus estimate of $518.42 million. The business’s revenue was down 33.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, equities research analysts forecast that Continental Resources Inc. will post ($0.77) earnings per share for the current fiscal year.
In other news, CFO John D. Hart sold 13,500 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 310,211 shares in the company, valued at approximately $13,159,150.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the firm’s 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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