Continental Resources Inc. (CLR) Hits New 52-Week High at $51.01
Continental Resources Inc. (NYSE:CLR) reached a new 52-week high on Tuesday . The stock traded as high as $51.01 and last traded at $50.07, with a volume of 1,055,472 shares trading hands. The stock had previously closed at $49.66.
Several equities research analysts 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 target price for the company. in a research note on Monday, May 9th. Wunderlich increased their target price on shares of Continental Resources from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Nomura increased their target price on shares of Continental Resources from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Scotiabank increased their target price on shares of Continental Resources from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group AG assumed coverage on shares of Continental Resources in a research note on Monday, June 6th. They issued a “neutral” rating and a $43.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Continental Resources presently has an average rating of “Buy” and an average price target of $42.72.
The company’s 50 day moving average is $45.76 and its 200-day moving average is $37.73. The company’s market cap is $18.43 billion.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. During the same period last year, the firm posted $0.13 earnings per share. The company had revenue of $525.70 million for the quarter, compared to analyst estimates of $518.42 million. Continental Resources’s revenue was down 33.5% compared to the same quarter last year. Equities analysts predict that Continental Resources Inc. will post ($0.77) earnings per share for the current fiscal year.
In related news, CFO John D. Hart sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $43.22, for a total value of $108,050.00. Following the completion of the transaction, the chief financial officer now owns 320,211 shares of the company’s stock, valued at approximately $13,839,519.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John D. Hart sold 13,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 310,211 shares of the company’s stock, valued at approximately $13,159,150.62. 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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