Continental Resources, Inc. (NYSE:CLR) President Jack H. Stark sold 12,000 shares of Continental Resources stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $49.05, for a total value of $588,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Continental Resources, Inc. (CLR) opened at $57.66 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. Continental Resources, Inc. has a 12 month low of $29.08 and a 12 month high of $58.89. The firm has a market capitalization of $21,634.55, a PE ratio of 1,441.50 and a beta of 1.44.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $726.74 million during the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The firm’s revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) EPS. equities research analysts forecast that Continental Resources, Inc. will post 0.34 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings 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 valued at $427,027,000 after buying an additional 1,875,103 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Continental Resources by 26.4% during the 2nd 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 buying an additional 1,703,303 shares during the last quarter. State Street Corp lifted its holdings in shares of Continental Resources by 14.4% during the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock valued at $103,474,000 after buying an additional 403,667 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Continental Resources by 474.8% during the 2nd 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 buying an additional 2,389,400 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its holdings in shares of Continental Resources by 208.2% during the 2nd 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 buying an additional 1,611,003 shares during the last quarter. Institutional investors and hedge funds own 22.53% of the company’s stock.
CLR has been the topic of a number of analyst reports. Scotiabank dropped their price target on Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, November 10th. Macquarie raised Continental Resources from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $53.57 to $55.00 in a research note on Thursday, December 14th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, November 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $41.00 price target on shares of Continental Resources in a research note on Friday, October 6th. Finally, Credit Suisse Group initiated coverage on Continental Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $57.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $49.15.
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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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