Tudor Pickering downgraded shares of Continental Resources (NYSE:CLR) from a buy rating to a hold rating in a research note published on Thursday, January 18th.
CLR has been the subject of a number of other research reports. Barclays reiterated an overweight rating and issued a $58.00 price objective (up previously from $53.00) on shares of Continental Resources in a report on Thursday, January 11th. Credit Suisse Group began coverage on Continental Resources in a report on Monday, December 11th. They issued an outperform rating and a $57.00 price objective for the company. Zacks Investment Research downgraded 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 upped their price objective for the company from $53.57 to $55.00 in a report on Thursday, December 14th. Finally, KeyCorp reissued a hold rating on shares of Continental Resources in a research note on Monday, November 13th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Continental Resources currently has an average rating of Buy and an average price target of $53.56.
Continental Resources (NYSE CLR) traded up $2.32 during midday trading on Thursday, reaching $51.38. The company had a trading volume of 3,395,227 shares, compared to its average volume of 2,289,963. The company has a market capitalization of $18,407.75, a P/E ratio of -733.90 and a beta of 1.36. 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 fifty-two week low of $29.08 and a fifty-two week high of $58.89.
In related news, CFO John D. Hart sold 6,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $51.23, for a total transaction of $307,380.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $50.85, for a total value of $502,092.90. The disclosure for this sale can be found here. Insiders have sold 52,874 shares of company stock valued at $2,603,673 over the last ninety days. 76.87% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. bought a new stake in Continental Resources during the fourth quarter worth about $102,000. Exane Derivatives bought a new stake in Continental Resources during the fourth quarter worth about $113,000. Toronto Dominion Bank raised its holdings in Continental Resources by 244.1% during the third quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 2,810 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Continental Resources by 35.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after buying an additional 1,261 shares during the period. Finally, Sii Investments Inc. WI bought a new stake in Continental Resources in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 22.57% 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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