SunTrust Banks set a $75.00 price target on Continental Resources (NYSE:CLR) in a research note published on Friday, March 16th. The brokerage 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.
A number of other research analysts have also recently weighed in on CLR. UBS cut shares of Continental Resources from a positive rating to a neutral rating in a report on Wednesday, January 17th. Deutsche Bank dropped their target price on shares of Continental Resources from $70.00 to $65.00 and set a buy rating on the stock in a research report on Thursday, February 22nd. Cowen set a $58.00 target price on shares of Continental Resources and gave the company a hold rating in a research report on Thursday, January 18th. KLR Group upgraded shares of Continental Resources from a hold rating to a buy rating and set a $66.00 target price on the stock in a research report on Friday, February 23rd. Finally, Zacks Investment Research upgraded shares of Continental Resources from a hold rating to a strong-buy rating and set a $63.00 target price on the stock in a research report on Friday, January 5th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Continental Resources has an average rating of Buy and an average target price of $56.94.
CLR traded down $1.81 on Friday, reaching $58.92. The stock had a trading volume of 3,467,120 shares, compared to its average volume of 2,171,502. Continental Resources has a 12-month low of $29.08 and a 12-month high of $61.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94. The stock has a market capitalization of $22,107.73, a price-to-earnings ratio of 115.53 and a beta of 1.27.
Continental Resources (NYSE:CLR) last released its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $978.63 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 90.5% on a year-over-year basis. equities research analysts forecast that Continental Resources will post 2.4 earnings per share for the current year.
In other Continental Resources news, CFO John D. Hart sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $53.13, for a total value of $796,950.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total transaction of $560,200.00. The disclosure for this sale can be found here. Insiders have purchased 156,909 shares of company stock worth $7,846,156 over the last 90 days. 76.87% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new stake in shares of Continental Resources in the 3rd quarter valued at approximately $52,973,000. JPMorgan Chase & Co. raised its stake in shares of Continental Resources by 101.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock valued at $57,798,000 after acquiring an additional 748,025 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Continental Resources by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 986,457 shares of the oil and natural gas company’s stock valued at $52,253,000 after acquiring an additional 351,930 shares during the period. Element Capital Management LLC purchased a new stake in shares of Continental Resources in the 4th quarter valued at approximately $17,509,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Continental Resources by 62.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 788,111 shares of the oil and natural gas company’s stock valued at $30,429,000 after acquiring an additional 301,698 shares during the period. Institutional investors own 22.43% of the company’s stock.
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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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