Piper Jaffray Companies reaffirmed their buy rating on shares of Continental Resources, Inc. (NYSE:CLR) in a report published on Wednesday morning. The firm currently has a $45.00 price objective on the oil and natural gas company’s stock.
CLR has been the topic of a number of other research reports. Zacks Investment Research cut Continental Resources from a buy rating to a hold rating in a report on Monday, November 13th. KeyCorp restated a hold rating on shares of Continental Resources in a report on Monday, November 13th. Royal Bank Of Canada upped their price target on Continental Resources from $48.00 to $51.00 and gave the stock an outperform rating in a report on Thursday, November 9th. Bank of America Corporation upped their price target on Continental Resources from $46.00 to $53.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Finally, Jefferies Group LLC set a $42.00 price target on Continental Resources and gave the stock a buy rating in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $46.69.
Continental Resources (NYSE:CLR) traded up $0.70 on Wednesday, hitting $46.24. The company had a trading volume of 1,774,700 shares, compared to its average volume of 2,866,950. The firm has a market cap of $17,620.00, a PE ratio of 1,138.50 and a beta of 1.40. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. Continental Resources has a 1-year low of $29.08 and a 1-year high of $60.30.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The company’s revenue was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) EPS. equities analysts expect that Continental Resources will post 0.27 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Continental Resources by 16.5% during the 2nd quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock worth $427,027,000 after purchasing an additional 1,875,103 shares during the period. Vanguard Group Inc. raised its position in shares of Continental Resources by 26.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after buying an additional 1,703,303 shares during the period. State Street Corp raised its position in shares of Continental Resources by 14.4% in the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock worth $103,474,000 after buying an additional 403,667 shares during the period. Renaissance Technologies LLC raised its position in shares of Continental Resources by 474.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock worth $93,518,000 after buying an additional 2,389,400 shares during the period. Finally, Balyasny Asset Management LLC raised its position in shares of Continental Resources by 208.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock worth $77,106,000 after buying an additional 1,611,003 shares during the period. 23.13% of the stock is currently owned by institutional investors.
About Continental Resources
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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