Goldman Sachs cut shares of Continental Resources (NYSE:CLR) from a buy rating to a neutral rating in a research report report published on Thursday, MarketBeat reports.
Other analysts also recently issued reports about the company. Cowen set a $58.00 target price on Continental Resources and gave the stock a hold rating in a research report on Thursday, January 18th. Tudor Pickering downgraded Continental Resources from a buy rating to a hold rating in a research report on Thursday, January 18th. B. Riley assumed coverage on Continental Resources in a research report on Monday, February 5th. They issued a buy rating and a $78.00 price objective on the stock. Jefferies Group set a $65.00 price objective on Continental Resources and gave the company a buy rating in a research report on Monday, March 19th. Finally, Piper Jaffray set a $67.00 price objective on Continental Resources and gave the company a buy rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $57.48.
CLR opened at $61.86 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The firm has a market cap of $22,884.42, a price-to-earnings ratio of 121.29 and a beta of 1.27. Continental Resources has a one year low of $29.08 and a one year high of $62.67.
Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $978.63 million. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. Continental Resources’s quarterly revenue was up 90.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) earnings per share. equities analysts anticipate that Continental Resources will post 2.4 earnings per share for the current year.
In other news, CEO Harold Hamm purchased 31,995 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was bought at an average cost of $48.74 per share, for a total transaction of $1,559,436.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $56.02, for a total value of $560,200.00. The disclosure for this sale can be found here. Insiders purchased 156,909 shares of company stock valued at $7,846,156 over the last quarter. Insiders own 76.87% of the company’s stock.
Large investors have recently made changes to their positions in the business. American International Group Inc. acquired a new stake in Continental Resources during the fourth quarter worth about $102,000. Exane Derivatives acquired a new stake in Continental Resources during the fourth quarter worth about $113,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Continental Resources by 126.7% during 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. Ladenburg Thalmann Financial Services Inc. increased its stake in Continental Resources by 35.0% during the third 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. Finally, Calton & Associates Inc. acquired a new stake in Continental Resources during the fourth quarter worth about $200,000. Institutional investors own 22.43% 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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