Continental Resources’ (CLR) Outperform Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reissued their outperform rating on shares of Continental Resources (NYSE:CLR) in a research note published on Tuesday morning, MarketBeat.com reports. They currently have a $70.00 price objective on the oil and natural gas company’s stock, up from their previous price objective of $65.00.

A number of other research analysts have also issued reports on CLR. Morgan Stanley boosted their price objective on Continental Resources from $51.00 to $56.00 and gave the company an overweight rating in a research report on Wednesday, November 8th. Bank of America boosted their price objective on Continental Resources from $46.00 to $53.00 and gave the company a buy rating in a research report on Wednesday, November 8th. Zacks Investment Research raised Continental Resources from a hold rating to a buy rating and set a $49.00 target price on the stock in a research note on Wednesday, November 8th. Imperial Capital raised Continental Resources from an in-line rating to an outperform rating and set a $60.00 target price on the stock in a research note on Thursday, November 9th. Finally, Royal Bank of Canada lifted their target price on Continental Resources from $48.00 to $51.00 and gave the company an outperform rating in a research note on Thursday, November 9th. Nine research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $55.98.

Continental Resources (NYSE:CLR) opened at $54.73 on Tuesday. Continental Resources has a 12-month low of $29.08 and a 12-month high of $58.89. The stock has a market capitalization of $20,540.00, a P/E ratio of -781.86 and a beta of 1.36. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94.

In other news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total value of $247,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark E. Monroe sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total value of $958,000.00. The disclosure for this sale can be found here. Insiders sold a total of 52,874 shares of company stock worth $2,603,673 in the last three months. Company insiders own 76.87% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in shares of Continental Resources by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after acquiring an additional 647 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Continental Resources by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock worth $433,000 after acquiring an additional 920 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Continental Resources by 12.8% in the 4th quarter. Amalgamated Bank now owns 9,189 shares of the oil and natural gas company’s stock worth $487,000 after acquiring an additional 1,041 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Continental Resources by 15.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,089 shares of the oil and natural gas company’s stock worth $351,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Continental Resources by 35.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after acquiring an additional 1,261 shares during the last quarter. 22.37% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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