Seaport Global Securities upgraded shares of Continental Resources (NYSE:CLR) from a sell rating to a neutral rating in a report released on Tuesday, December 19th, MarketBeat Ratings reports. Seaport Global Securities also issued estimates for Continental Resources’ Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $0.35 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.29 EPS and FY2018 earnings at $1.22 EPS.
CLR has been the topic of a number of other research reports. Credit Suisse Group started coverage on Continental Resources in a research report on Monday, December 11th. They set an outperform rating and a $57.00 target price on the stock. Zacks Investment Research lowered Continental Resources from a buy rating to a hold rating in a report on Monday, November 13th. Macquarie upgraded Continental Resources from a neutral rating to an outperform rating and raised their price objective for the company from $53.57 to $55.00 in a report on Thursday, December 14th. KeyCorp reiterated a hold rating on shares of Continental Resources in a report on Monday, November 13th. Finally, Royal Bank of Canada lifted 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. Seven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Continental Resources presently has an average rating of Buy and an average target price of $49.15.
Shares of Continental Resources (NYSE:CLR) traded up $1.81 during trading on Tuesday, hitting $58.33. 2,371,912 shares of the company traded hands, compared to its average volume of 1,790,000. The stock has a market cap of $21,890.00, a price-to-earnings ratio of -833.29 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55. Continental Resources has a 52-week low of $29.08 and a 52-week high of $58.89.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS 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 net margin of 1.46% and a return on equity of 1.00%. The business’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) EPS. analysts anticipate that Continental Resources will post 0.34 EPS for the current year.
In related news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total transaction of $247,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John D. Hart sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $51.23, for a total value of $307,380.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,874 shares of company stock valued at $2,603,673. Corporate insiders own 76.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its holdings in shares of Continental Resources by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 222,557 shares of the oil and natural gas company’s stock valued at $7,196,000 after purchasing an additional 22,383 shares during the period. First Trust Advisors LP increased its holdings in shares of Continental Resources by 21.5% in the second quarter. First Trust Advisors LP now owns 267,225 shares of the oil and natural gas company’s stock valued at $8,639,000 after purchasing an additional 47,359 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Continental Resources by 12.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,269 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 902 shares during the period. State of Wisconsin Investment Board acquired a new position in shares of Continental Resources in the second quarter valued at approximately $780,000. Finally, SG Americas Securities LLC increased its holdings in shares of Continental Resources by 9.5% in the second quarter. SG Americas Securities LLC now owns 8,057 shares of the oil and natural gas company’s stock valued at $260,000 after purchasing an additional 696 shares during the period. Institutional investors own 22.53% of the company’s stock.
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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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