Continental Resources Inc. (CLR) Stock Price Up 3.2%
Continental Resources Inc. (NYSE:CLR)’s share price rose 3.2% on Friday . The stock traded as high as $50.62 and last traded at $50.30, with a volume of 1,579,670 shares trading hands. The stock had previously closed at $48.75.
CLR has been the subject of several research analyst reports. Wells Fargo & Co. initiated coverage on shares of Continental Resources in a research note on Tuesday, August 16th. They set an “outperform” rating and a $54.00 target price for the company. Jefferies Group reaffirmed a “sell” rating on shares of Continental Resources in a research note on Thursday, August 11th. SunTrust Banks Inc. raised shares of Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, August 1st. Scotiabank reaffirmed an “outperform” rating and set a $17.00 target price on shares of Continental Resources in a research note on Tuesday, June 28th. Finally, Deutsche Bank AG raised their target price on shares of Continental Resources from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $42.72.
The firm has a 50 day moving average of $46.28 and a 200-day moving average of $38.19. The company’s market cap is $18.63 billion.
Continental Resources (NYSE:CLR) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. During the same period in the previous year, the business posted $0.13 earnings per share. 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. On average, analysts expect that Continental Resources Inc. will post ($0.77) earnings per share for the current year.
In other news, CFO John D. Hart sold 2,500 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $43.22, for a total transaction of $108,050.00. Following the sale, the chief financial officer now owns 320,211 shares of the company’s stock, valued at $13,839,519.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John D. Hart sold 13,500 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $42.42, for a total transaction of $572,670.00. Following the sale, the chief financial officer now directly owns 310,211 shares in the company, 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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