SunTrust Banks set a $75.00 price objective on Continental Resources (NYSE:CLR) in a report issued on Friday morning. The firm currently has a buy rating on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Continental Resources’ Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.34 EPS.
CLR has been the subject of several other reports. Barclays raised their target price on shares of Continental Resources from $42.00 to $46.00 and gave the company an overweight rating in a report on Monday, November 20th. TheStreet upgraded shares of Continental Resources from a d+ rating to a c rating in a report on Friday, November 17th. Piper Jaffray Companies restated a buy rating and set a $45.00 target price on shares of Continental Resources in a report on Wednesday, November 22nd. ValuEngine upgraded shares of Continental Resources from a sell rating to a hold rating in a report on Friday, December 1st. Finally, Credit Suisse Group began coverage on shares of Continental Resources in a report on Monday, December 11th. They set an outperform rating and a $57.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $56.66.
Shares of Continental Resources (NYSE:CLR) traded up $0.71 on Friday, hitting $53.07. 1,523,372 shares of the stock were exchanged, compared to its average volume of 2,735,603. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.87. The stock has a market cap of $19,646.30, a P/E ratio of 25.15 and a beta of 1.45. Continental Resources has a 1-year low of $29.08 and a 1-year high of $58.89.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.09. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $978.63 million. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The business’s revenue was up 90.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) EPS. equities analysts forecast that Continental Resources will post 2.37 EPS for the current fiscal year.
In related news, SVP Gary E. Gould sold 9,874 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $50.85, for a total value of $502,092.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Harold Hamm bought 25,886 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average cost of $50.59 per share, for a total transaction of $1,309,572.74. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 156,909 shares of company stock valued at $7,846,156 and have sold 32,874 shares valued at $1,645,673. Insiders own 76.87% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB boosted its position in shares of Continental Resources by 17.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 10,406 shares of the oil and natural gas company’s stock worth $551,000 after acquiring an additional 1,562 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in shares of Continental Resources in the fourth quarter worth approximately $243,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Continental Resources by 55.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,550 shares of the oil and natural gas company’s stock worth $1,777,000 after acquiring an additional 12,036 shares during the last quarter. Ashburton Jersey Ltd boosted its position in shares of Continental Resources by 56.5% in the fourth quarter. Ashburton Jersey Ltd now owns 46,800 shares of the oil and natural gas company’s stock worth $2,479,000 after acquiring an additional 16,900 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Continental Resources by 126.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after acquiring an additional 1,900 shares during the last quarter. 22.42% of the stock is currently owned by institutional investors and hedge funds.
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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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