Continental Resources (NYSE:CLR)‘s stock had its “hold” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday.
Other analysts also recently issued research reports about the company. Bank of America increased their target price on Continental Resources from $84.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Jefferies Financial Group set a $83.00 target price on Continental Resources and gave the company a “buy” rating in a research note on Friday, July 13th. KLR Group upgraded Continental Resources from a “hold” rating to a “buy” rating and increased their target price for the company from $67.00 to $78.00 in a research note on Tuesday, July 24th. Piper Jaffray Companies restated a “buy” rating and set a $77.00 target price on shares of Continental Resources in a research note on Thursday, August 30th. Finally, Royal Bank of Canada set a $81.00 target price on Continental Resources and gave the company a “buy” rating in a research note on Thursday, September 20th. Nine equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $72.03.
NYSE:CLR traded up $0.69 during mid-day trading on Friday, hitting $50.73. 2,402,894 shares of the company’s stock traded hands, compared to its average volume of 2,168,884. Continental Resources has a 12 month low of $42.83 and a 12 month high of $71.95. The company has a market cap of $19.00 billion, a price-to-earnings ratio of 99.47, a PEG ratio of 1.29 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 1.00.
Continental Resources (NYSE:CLR) last announced its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 76.4% compared to the same quarter last year. Analysts anticipate that Continental Resources will post 3.25 EPS for the current year.
In related news, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 76.83% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Worldquant Millennium Quantitative Strategies LLC bought a new position in shares of Continental Resources during the 2nd quarter worth approximately $29,364,000. Bank of America Corp DE lifted its position in shares of Continental Resources by 20.3% during the 2nd quarter. Bank of America Corp DE now owns 1,345,658 shares of the oil and natural gas company’s stock worth $87,146,000 after buying an additional 226,626 shares during the period. BlackRock Inc. lifted its position in shares of Continental Resources by 5.6% during the 2nd quarter. BlackRock Inc. now owns 4,829,027 shares of the oil and natural gas company’s stock worth $312,729,000 after buying an additional 256,614 shares during the period. Castleark Management LLC lifted its position in shares of Continental Resources by 1.0% during the 2nd quarter. Castleark Management LLC now owns 614,896 shares of the oil and natural gas company’s stock worth $39,821,000 after buying an additional 5,871 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Continental Resources by 300.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 83,115 shares of the oil and natural gas company’s stock worth $5,383,000 after buying an additional 62,358 shares during the period. Institutional investors and hedge funds own 22.43% of the company’s stock.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.
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