Continental Resources, Inc. (CLR) Given a $61.00 Price Target at Canaccord Genuity
Several other analysts have also recently issued reports on CLR. BMO Capital Markets began coverage on Continental Resources in a research note on Sunday, October 30th. They issued a buy rating and a $18.00 target price on the stock. Deutsche Bank AG cut Continental Resources from a buy rating to a hold rating and set a $64.00 target price on the stock. in a research note on Thursday, December 8th. Wells Fargo & Company lowered shares of Continental Resources from an outperform rating to a market perform rating in a report on Friday, December 16th. FBR & Co began coverage on shares of Continental Resources in a report on Monday, December 19th. They issued a market perform rating and a $56.00 price objective for the company. Finally, J P Morgan Chase & Co lowered shares of Continental Resources from an overweight rating to a neutral rating and raised their price objective for the stock from $55.00 to $57.00 in a report on Thursday, December 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $49.54.
Continental Resources (NYSE:CLR) traded up 0.06% on Thursday, reaching $51.40. The company had a trading volume of 1,848,719 shares. Continental Resources has a one year low of $13.94 and a one year high of $60.30. The firm’s market capitalization is $19.04 billion. The company’s 50 day moving average is $52.93 and its 200-day moving average is $49.06.
Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. The business earned $526.20 million during the quarter, compared to the consensus estimate of $148.37 million. Continental Resources had a negative return on equity of 8.69% and a negative net margin of 28.27%. The firm’s revenue for the quarter was down 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. On average, equities research analysts expect that Continental Resources will post ($0.90) earnings per share for the current fiscal year.
In other news, SVP Gary E. Gould sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $58.20, for a total transaction of $436,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jack H. Stark sold 788 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $53.34, for a total transaction of $42,031.92. The disclosure for this sale can be found here. Insiders own 76.97% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Sfmg LLC purchased a new position in shares of Continental Resources during the third quarter valued at approximately $208,000. Ashburton Jersey Ltd purchased a new position in shares of Continental Resources during the third quarter valued at approximately $748,000. D.A. Davidson & CO. increased its position in shares of Continental Resources by 1,364.1% in the third quarter. D.A. Davidson & CO. now owns 7,350 shares of the company’s stock valued at $381,000 after buying an additional 6,848 shares during the last quarter. Sheets Smith Wealth Management purchased a new position in shares of Continental Resources during the third quarter valued at approximately $675,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Continental Resources by 54.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,531,200 shares of the company’s stock valued at $79,561,000 after buying an additional 538,336 shares during the last quarter. Hedge funds and other institutional investors own 22.95% of the company’s stock.
About Continental Resources
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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