Continental Resources Inc. (CLR) Hits New 52-Week High at $46.30
Continental Resources Inc. (NYSE:CLR)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $46.30 and last traded at $45.47, with a volume of 1,595,234 shares changing hands. The stock had previously closed at $45.32.
CLR has been the subject of several research reports. Vetr lowered shares of Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 price objective for the company. in a research report on Monday, May 9th. Deutsche Bank AG upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and raised their price objective for the company from $34.00 to $40.00 in a research report on Wednesday, April 13th. Seaport Global Securities upgraded shares of Continental Resources from an “accumulate” rating to a “buy” rating in a research report on Thursday, March 31st. Capital One Financial Corp. lowered shares of Continental Resources from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 27th. They noted that the move was a valuation call. Finally, Scotiabank raised their price objective on shares of Continental Resources from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, June 22nd. Two 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 stock. Continental Resources has a consensus rating of “Buy” and an average price target of $38.57.
The firm’s market cap is $17.02 billion. The firm has a 50 day moving average price of $43.37 and a 200-day moving average price of $31.92.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.04. During the same period in the prior year, the business posted ($0.09) earnings per share. The business earned $453.17 million during the quarter, compared to analysts’ expectations of $444.84 million. The firm’s revenue was down 27.6% on a year-over-year basis. Analysts forecast that Continental Resources Inc. will post ($0.82) EPS for the current fiscal year.
In other news, SVP Glen A. Brown sold 15,000 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $40.62, for a total value of $609,300.00. Following the completion of the sale, the senior vice president now owns 145,890 shares of the company’s stock, valued at approximately $5,926,051.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $45.35, for a total value of $453,500.00. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the stock. 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 worth $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 worth $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 worth $1,766,000 after buying an additional 36,761 shares during the period. 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 worth $2,984,000 after buying an additional 2,824 shares during the period. Finally, Morningstar Investment Services LLC acquired a new stake in Continental Resources during the fourth quarter worth $3,103,000.
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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