Stifel Nicolaus set a $66.00 price target on Continental Resources (NYSE:CLR) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
CLR has been the subject of several other research reports. Zacks Investment Research cut shares of Continental Resources from a buy rating to a hold rating in a research report on Wednesday, April 18th. Barclays reiterated an overweight rating and set a $58.00 price target (up previously from $53.00) on shares of Continental Resources in a research report on Thursday, January 11th. Credit Suisse Group set a $65.00 price target on shares of Continental Resources and gave the stock a buy rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. B. Riley set a $70.00 price target on shares of Continental Resources and gave the stock a buy rating in a research report on Friday, February 16th. Finally, KLR Group cut shares of Continental Resources from a buy rating to a hold rating and set a $61.00 price target for the company. in a research report on Tuesday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $57.87.
Shares of NYSE:CLR opened at $64.95 on Monday. Continental Resources has a one year low of $29.08 and a one year high of $65.06. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The company has a market cap of $23,950.03, a PE ratio of 127.35 and a beta of 1.26.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 EPS for the quarter, topping the consensus estimate 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) EPS. Continental Resources’s revenue was up 90.5% on a year-over-year basis. equities research analysts forecast that Continental Resources will post 2.46 earnings per share for the current fiscal year.
In other news, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total value of $560,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John D. Hart sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $53.13, for a total transaction of $796,950.00. The disclosure for this sale can be found here. Insiders bought 156,909 shares of company stock valued at $7,846,156 in the last quarter. Corporate insiders own 76.83% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. American International Group Inc. bought a new stake in shares of Continental Resources in the fourth quarter worth $102,000. Exane Derivatives bought a new stake in shares of Continental Resources in the fourth quarter worth $113,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted 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 purchasing an additional 1,900 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Continental Resources by 35.0% in 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 purchasing an additional 1,261 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Continental Resources in the fourth quarter worth $200,000. 22.46% 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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