Continental Resources (CLR) Stock Rating Reaffirmed by Susquehanna Bancshares
Continental Resources (NYSE:CLR)‘s stock had its “neutral” rating restated by stock analysts at Susquehanna Bancshares in a report released on Wednesday, MarketBeat reports. They currently have a $61.00 price objective on the oil and natural gas company’s stock. Susquehanna Bancshares’ price target suggests a potential upside of 10.57% from the company’s current price.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets increased their target price on shares of Continental Resources from $8.00 to $11.00 in a research report on Monday, November 13th. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, November 8th. Bank of America increased their target price on shares of Continental Resources from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Jefferies Group reiterated a “buy” rating and set a $47.00 target price on shares of Continental Resources in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $41.00 target price on shares of Continental Resources in a research report on Friday, October 6th. Nine analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.54.
Shares of Continental Resources (NYSE:CLR) traded down $0.48 during trading hours on Wednesday, reaching $55.17. 1,811,335 shares of the company’s stock were exchanged, compared to its average volume of 1,860,000. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market capitalization of $20,700.00, a price-to-earnings ratio of -788.14 and a beta of 1.44. Continental Resources has a 12-month low of $29.08 and a 12-month high of $58.89.
In other news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $50.85, for a total transaction of $502,092.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,874 shares of company stock worth $2,603,673. Insiders own 76.87% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CLR. Renaissance Technologies LLC raised its stake in Continental Resources by 474.8% in the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after purchasing an additional 2,389,400 shares in the last quarter. FMR LLC raised its stake in Continental Resources by 16.5% in the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock valued at $427,027,000 after purchasing an additional 1,875,103 shares in the last quarter. Vanguard Group Inc. raised its stake in Continental Resources by 26.4% in the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after purchasing an additional 1,703,303 shares in the last quarter. Balyasny Asset Management LLC raised its stake in Continental Resources by 208.2% in the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock valued at $77,106,000 after purchasing an additional 1,611,003 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in Continental Resources in the third quarter valued at approximately $52,973,000. 22.55% of the stock is currently owned by institutional investors and hedge funds.
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Continental Resources Company Profile
Continental Resources, Inc is a crude oil and natural gas 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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