Continental Resources Inc. (CLR) Shares Gap Up to $48.75
Continental Resources Inc. (NYSE:CLR) shares gapped up before the market opened on Monday . The stock had previously closed at $48.29, but opened at $48.75. Continental Resources shares last traded at $50.29, with a volume of 2,594,500 shares trading hands.
A number of research analysts have commented on CLR shares. Vetr cut shares of Continental Resources from a “buy” rating to a “sell” rating and set a $37.50 price target on the stock. in a research report on Monday, May 9th. Wunderlich increased their price objective on Continental Resources from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Nomura increased their price objective on Continental Resources from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Scotiabank increased their price objective on Continental Resources from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, June 22nd. Finally, Credit Suisse Group AG began coverage on Continental Resources in a research note on Monday, June 6th. They set a “neutral” rating and a $43.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.72.
The firm’s 50-day moving average price is $46.28 and its 200-day moving average price is $38.19. The company’s market cap is $18.63 billion.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.01. The company earned $525.70 million during the quarter, compared to analysts’ expectations of $518.42 million. Continental Resources’s revenue was down 33.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. Equities analysts predict that Continental Resources Inc. will post ($0.77) earnings per share for the current year.
In related news, CFO John D. Hart sold 13,500 shares of the company’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $42.42, for a total transaction of $572,670.00. Following the completion of the sale, the chief financial officer now directly owns 310,211 shares in the company, valued at approximately $13,159,150.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John D. Hart sold 2,500 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $43.22, for a total value of $108,050.00. Following the sale, the chief financial officer now 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.
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