Continental Resources Inc. (CLR) Trading Up 7%
Continental Resources Inc. (NYSE:CLR)’s share price was up 7% during trading on Tuesday . The company traded as high as $45.67 and last traded at $45.42, with a volume of 2,621,155 shares traded. The stock had previously closed at $42.44.
A number of equities analysts recently commented on CLR shares. Capital One Financial Corp. cut Continental Resources from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 27th. They noted that the move was a valuation call. Credit Suisse Group AG started coverage on Continental Resources in a report on Monday, June 6th. They set a “neutral” rating and a $43.00 price objective for the company. Scotiabank boosted their price objective on Continental Resources from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, June 22nd. Vetr cut Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 price objective for the company. in a report on Monday, May 9th. Finally, Wunderlich boosted their price objective on Continental Resources from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.57.
The company’s 50 day moving average price is $42.88 and its 200 day moving average price is $31.45. The stock’s market cap is $16.95 billion.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.04. The firm had revenue of $453.17 million for the quarter, compared to analysts’ expectations of $444.84 million. The business’s quarterly revenue was down 27.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.09) EPS. Equities analysts expect that Continental Resources Inc. will post ($0.88) EPS for the current fiscal year.
In other news, SVP Glen A. Brown sold 15,000 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $40.62, for a total transaction of $609,300.00. Following the sale, the senior vice president now owns 145,890 shares in the company, valued at approximately $5,926,051.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John D. Hart sold 2,500 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $13,839,519.42. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Numeric Investors LLC boosted its stake in Continental Resources by 284.6% in the fourth quarter. Numeric Investors LLC now owns 45,000 shares of the company’s stock valued at $1,034,000 after buying an additional 33,300 shares during the period. Quantitative Investment Management LLC boosted its stake in Continental Resources by 37.3% in the fourth quarter. Quantitative Investment Management LLC now owns 65,200 shares of the company’s stock valued at $1,498,000 after buying an additional 17,700 shares during the period. Henderson Group PLC boosted its stake in Continental Resources by 1,493.2% in the fourth quarter. Henderson Group PLC now owns 69,145 shares of the company’s stock valued at $1,589,000 after buying an additional 64,805 shares during the period. First Trust Advisors LP boosted its stake in Continental Resources by 91.7% in the fourth quarter. First Trust Advisors LP now owns 76,870 shares of the company’s stock valued at $1,766,000 after buying an additional 36,761 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. boosted its stake in Continental Resources by 2.2% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 134,098 shares of the company’s stock valued at $2,984,000 after buying an additional 2,824 shares during the period.
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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