Continental Resources (NYSE:CLR) was downgraded by investment analysts at KLR Group from a “buy” rating to a “hold” rating in a report released on Tuesday, January 23rd, MarketBeat.com reports. They presently have a $61.00 price objective on the oil and natural gas company’s stock. KLR Group’s price objective points to a potential upside of 13.59% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. BMO Capital Markets increased their target price on Continental Resources from $8.00 to $11.00 in a research report on Monday, November 13th. Piper Jaffray Companies reissued a “buy” rating and set a $41.00 price target on shares of Continental Resources in a report on Friday, October 6th. Stifel Nicolaus set a $68.00 price target on Continental Resources and gave the company a “buy” rating in a report on Thursday, October 5th. SunTrust Banks set a $50.00 price target on Continental Resources and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Jefferies Group reissued a “buy” rating and set a $47.00 price target on shares of Continental Resources in a report on Thursday, October 12th. Nine 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 stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.56.
Shares of Continental Resources (NYSE:CLR) traded up $2.49 during midday trading on Tuesday, reaching $53.70. The company’s stock had a trading volume of 2,860,000 shares, compared to its average volume of 2,270,000. Continental Resources has a 1 year low of $29.08 and a 1 year high of $58.89. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The firm has a market capitalization of $20,150.00, a price-to-earnings ratio of -767.14 and a beta of 1.36.
In related news, SVP Gary E. Gould sold 9,874 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total value of $502,092.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John D. Hart sold 6,000 shares of the stock in a transaction 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 ninety days, insiders have sold 52,874 shares of company stock worth $2,603,673. 76.87% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new position in shares of Continental Resources in the 4th quarter valued at $102,000. Exane Derivatives acquired a new position in shares of Continental Resources in the 4th quarter valued at $113,000. Bellwether Investment Group LLC acquired a new position in shares of Continental Resources in the 4th quarter valued at $202,000. Calton & Associates Inc. acquired a new position in shares of Continental Resources in the 4th quarter valued at $200,000. Finally, Wealthstreet Investment Advisors LLC acquired a new position in shares of Continental Resources in the 4th quarter valued at $201,000. 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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