Continental Resources Inc. (CLR) Hits New 52-Week High at $51.01
Continental Resources Inc. (NYSE:CLR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.01 and last traded at $50.07, with a volume of 1,055,472 shares trading hands. The stock had previously closed at $49.66.
A number of equities research analysts have issued reports on the company. Nomura reiterated a “buy” rating and issued a $50.00 target price (up from $25.00) on shares of Continental Resources in a research note on Wednesday, May 25th. KLR Group cut Continental Resources from a “buy” rating to an “accumulate” rating and raised their target price for the company from $48.00 to $54.00 in a research note on Monday, July 18th. Stifel Nicolaus reiterated a “hold” rating on shares of Continental Resources in a research note on Wednesday. SunTrust Banks Inc. upgraded 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. Finally, Howard Weil cut Continental Resources from a “focus stock” rating to a “sector outperform” rating in a research note on Monday, May 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $42.72.
The stock’s market cap is $17.77 billion. The stock’s 50 day moving average price is $46.03 and its 200-day moving average price is $38.03.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by $0.01. The firm earned $525.70 million during the quarter, compared to the consensus estimate of $518.42 million. During the same period in the prior year, the company earned $0.13 earnings per share. Continental Resources’s revenue for the quarter was down 33.5% compared to the same quarter last year. On average, equities analysts predict that Continental Resources Inc. will post ($0.77) EPS for the current year.
In other news, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $43.32, for a total transaction of $433,200.00. Following the completion of the transaction, the senior vice president now directly owns 173,136 shares of the company’s stock, valued at $7,500,251.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John D. Hart sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $43.22, for a total value of $108,050.00. Following the transaction, the chief financial officer now directly owns 320,211 shares of the company’s stock, valued at $13,839,519.42. The disclosure for this sale can be found here.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.