Continental Resources Inc. (CLR) Trading Down 3.7%
Continental Resources Inc. (NYSE:CLR) shares were down 3.7% during mid-day trading on Thursday . The company traded as low as $42.51 and last traded at $42.59, with a volume of 2,225,019 shares changing hands. The stock had previously closed at $44.24.
Several analysts recently weighed in on the company. Deutsche Bank AG reissued a “hold” rating on shares of Continental Resources in a report on Saturday, March 12th. Scotiabank increased their price target on Continental Resources from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, June 22nd. BMO Capital Markets raised Continental Resources from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $39.58 to $37.00 in a report on Thursday, May 5th. Wunderlich raised their target price on Continental Resources from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 6th. Finally, Vetr cut Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 target price on the stock. in a report on Monday, May 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Continental Resources currently has a consensus rating of “Buy” and an average price target of $38.57.
The firm’s market capitalization is $16.19 billion. The stock’s 50-day moving average price is $42.84 and its 200-day moving average price is $31.19.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.04. The firm had revenue of $453.17 million for the quarter, compared to analyst estimates of $444.84 million. Continental Resources’s quarterly revenue was down 27.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. Analysts anticipate that Continental Resources Inc. will post ($0.89) EPS for the current fiscal year.
In other Continental Resources news, SVP Eric Spencer Eissenstat sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $45.35, for a total transaction of $453,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Glen A. Brown sold 8,977 shares of the business’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $43.23, for a total transaction of $388,075.71. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its stake in Continental Resources by 69.8% in the fourth quarter. Morgan Stanley now owns 2,106,900 shares of the company’s stock valued at $48,417,000 after buying an additional 866,217 shares in the last quarter. Caymus Capital Partners L.P. boosted its stake in Continental Resources by 43.4% in the fourth quarter. Caymus Capital Partners L.P. now owns 2,322,000 shares of the company’s stock valued at $53,360,000 after buying an additional 703,100 shares in the last quarter. South Dakota Investment Council boosted its stake in Continental Resources by 46.4% in the fourth quarter. South Dakota Investment Council now owns 916,140 shares of the company’s stock valued at $21,053,000 after buying an additional 290,500 shares in the last quarter. Marshall Wace LLP boosted its stake in Continental Resources by 328.3% in the fourth quarter. Marshall Wace LLP now owns 296,700 shares of the company’s stock valued at $6,818,000 after buying an additional 227,429 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Continental Resources during the fourth quarter valued at about $4,521,000.
Continental Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company owns 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.