A number of firms have modified their ratings and price targets on shares of Continental Resources (NYSE: CLR) recently:

  • 11/20/2018 – Continental Resources was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Continental Resources’ third-quarter 2018 earnings and revenues both beat the Zacks Consensus Estimate and increased from the year earlier quarter. The strong third-quarter results were supported by higher oil equivalent price realizations and increased production from the North Dakota Bakken, as well as SCOOP and STACK regions. The company has a premier position in the Bakken area. Moreover, the region comprises almost 48% of its proved reserves. Notably, in North Dakota Bakken, the firm is planning to allocate about 52% of its capital budget for drilling and completion activities in 2018. However, as of Sep 30, 2018, the company had around $6 billion in total debt, with a debt to capitalization ratio of 50.1%, much higher than the industry’s 44.5%. This reflects the weakness in its balance sheet and can restrict the company’s financial flexibility, thus limiting its growth. Increasing operating expenses are also a ccncern.”
  • 11/20/2018 – Continental Resources was given a new $63.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 11/19/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $69.00 price target on the stock.
  • 11/15/2018 – Continental Resources had its “hold” rating reaffirmed by analysts at Credit Suisse Group AG.
  • 11/14/2018 – Continental Resources had its price target lowered by analysts at Barclays PLC from $74.00 to $71.00. They now have an “overweight” rating on the stock.
  • 11/14/2018 – Continental Resources was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 11/12/2018 – Continental Resources was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 11/9/2018 – Continental Resources had its “hold” rating reaffirmed by analysts at Cfra.
  • 11/9/2018 – Continental Resources had its “hold” rating reaffirmed by analysts at DZ Bank AG.
  • 11/9/2018 – Continental Resources had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co..
  • 11/9/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $71.00 price target on the stock.
  • 11/9/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at UBS Group AG.
  • 11/5/2018 – Continental Resources had its price target lowered by analysts at Morgan Stanley from $84.00 to $76.00. They now have a “buy” rating on the stock.
  • 11/1/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Guggenheim. They now have a $74.00 price target on the stock.
  • 10/30/2018 – Continental Resources was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating. They now have a $70.00 price target on the stock, down previously from $74.00.
  • 10/29/2018 – Continental Resources had its “hold” rating reaffirmed by analysts at Barclays PLC.
  • 10/24/2018 – Continental Resources is now covered by analysts at Wells Fargo & Co. They set an “outperform” rating and a $78.00 price target on the stock.
  • 10/24/2018 – Continental Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Continental Resources’ large and geographically diversified asset base includes resources in the Bakken Shale as well as the STACK and SCOOP plays in Oklahoma. The majority of the company’s total production is oil (55.3% in second quarter 2018), which enables Continental Resources to make the most of the favorable crude price environment. Most of the company’s drilling activities through 2018 are expected to be focused toward oil-rich resources. This will likely help the firm to meet its free cash flow guidance, ranging from $800 – $900 million. Moreover, Continental Resources' operating efficiency has enabled the company to drive down costs and break even when WTI prices are in the low-$40s. Consequently, the company offers upside potential from its current levels and can be labeled as an attractive investment.”
  • 10/24/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $82.00 price target on the stock.
  • 10/23/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Kepler Capital Markets.
  • 10/17/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Goldman Sachs Group Inc.
  • 10/15/2018 – Continental Resources was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating. They now have a $75.00 price target on the stock, up previously from $64.00.
  • 10/12/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Morgan Stanley. They now have a $84.00 price target on the stock, down previously from $87.00.
  • 10/11/2018 – Continental Resources was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/9/2018 – Continental Resources was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 10/2/2018 – Continental Resources was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/28/2018 – Continental Resources is now covered by analysts at Piper Jaffray Companies. They set an “overweight” rating on the stock.
  • 9/27/2018 – Continental Resources had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $78.00 price target on the stock.
  • 9/26/2018 – Continental Resources had its price target lowered by analysts at Morgan Stanley from $92.00 to $87.00. They now have a “buy” rating on the stock.

Shares of Continental Resources stock traded down $2.79 on Tuesday, hitting $44.43. The stock had a trading volume of 121,434 shares, compared to its average volume of 2,737,656. Continental Resources, Inc. has a 52-week low of $44.74 and a 52-week high of $71.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. The company has a market capitalization of $18.05 billion, a P/E ratio of 87.12, a PEG ratio of 1.23 and a beta of 1.46.

Continental Resources (NYSE:CLR) last posted its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 76.4% on a year-over-year basis. As a group, analysts forecast that Continental Resources, Inc. will post 3.25 earnings per share for the current year.

In other news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total value of $335,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 76.83% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CLR. FMR LLC increased its position in Continental Resources by 16.9% in the 2nd quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock valued at $970,474,000 after acquiring an additional 2,170,030 shares during the period. Millennium Management LLC increased its position in Continental Resources by 269.1% in the 2nd quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock valued at $91,673,000 after acquiring an additional 1,032,069 shares during the period. Voya Investment Management LLC increased its position in Continental Resources by 2,976.3% in the 2nd quarter. Voya Investment Management LLC now owns 825,169 shares of the oil and natural gas company’s stock valued at $53,438,000 after acquiring an additional 798,346 shares during the period. Bridgeway Capital Management Inc. acquired a new position in Continental Resources in the 3rd quarter valued at about $44,669,000. Finally, BlueMountain Capital Management LLC increased its position in Continental Resources by 725.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 704,318 shares of the oil and natural gas company’s stock valued at $45,612,000 after acquiring an additional 619,027 shares during the period. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

Read More: Discover Your Risk Tolerance

Receive News & Ratings for Continental Resources Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources Inc and related companies with MarketBeat.com's FREE daily email newsletter.