Continental Resources Inc. (CLR) Receives $44.61 Consensus Price Target from Analysts
Shares of Continental Resources Inc. (NYSE:CLR) have been given an average rating of “Buy” by the thirty-one ratings firms that are covering the stock. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $44.61.
CLR has been the topic of a number of analyst reports. Canaccord Genuity upped their target price on Continental Resources to $50.00 and gave the company a “buy” rating in a research note on Monday, June 20th. Scotiabank upped their target price on Continental Resources from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, June 22nd. KLR Group cut Continental Resources from a “buy” rating to an “accumulate” rating and upped their target price for the company from $48.00 to $54.00 in a research note on Monday, July 18th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Monday, July 18th. Finally, SunTrust Banks Inc. raised Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, August 1st.
Continental Resources (NYSE:CLR) opened at 52.52 on Tuesday. Continental Resources has a 52 week low of $13.94 and a 52 week high of $55.07. The firm’s 50-day moving average price is $49.54 and its 200-day moving average price is $43.16. The stock’s market cap is $19.46 billion.
Continental Resources (NYSE:CLR) last released 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 had a negative net margin of 24.96% and a negative return on equity of 7.57%. The company’s quarterly revenue was down 33.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. Equities analysts predict that Continental Resources will post ($0.80) earnings per share for the current fiscal year.
In related news, CFO John D. Hart sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $46.84, for a total value of $187,360.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Steven K. Owen sold 3,200 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $46.54, for a total transaction of $148,928.00. The disclosure for this sale can be found here. Insiders own 76.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CLR. Synovus Financial Corp bought a new position in shares of Continental Resources during the second quarter worth $131,000. I.G. Investment Management LTD. bought a new position in shares of Continental Resources during the second quarter worth $149,000. Shell Asset Management Co. raised its position in shares of Continental Resources by 19.3% in the second quarter. Shell Asset Management Co. now owns 3,737 shares of the company’s stock worth $169,000 after buying an additional 604 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in shares of Continental Resources during the first quarter worth $129,000. Finally, Westpac Banking Corp raised its position in shares of Continental Resources by 45.1% in the second quarter. Westpac Banking Corp now owns 4,276 shares of the company’s stock worth $194,000 after buying an additional 1,329 shares in the last quarter. 23.37% of the stock is currently owned by hedge funds and other institutional investors.
Continental Resources Company Profile
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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