MKM Partners started coverage on shares of Continental Resources (NYSE:CLR) in a research report report published on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $60.00 price target on the oil and natural gas company’s stock.
A number of other brokerages also recently weighed in on CLR. UBS Group reaffirmed a buy rating on shares of Continental Resources in a research report on Friday, November 9th. Guggenheim reaffirmed a buy rating and set a $74.00 price objective on shares of Continental Resources in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of Continental Resources from a buy rating to a hold rating in a research report on Tuesday, November 20th. ValuEngine downgraded shares of Continental Resources from a hold rating to a sell rating in a research report on Monday, November 12th. Finally, Jefferies Financial Group downgraded shares of Continental Resources to a hold rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the stock. Continental Resources currently has an average rating of Buy and an average target price of $71.10.
Shares of NYSE:CLR opened at $47.65 on Wednesday. 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 has a fifty-two week low of $43.53 and a fifty-two week high of $71.95. The stock has a market cap of $17.92 billion, a P/E ratio of 93.43, a price-to-earnings-growth ratio of 0.70 and a beta of 1.47.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The business 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 firm earned $0.09 EPS. The company’s revenue for the quarter was up 76.4% compared to the same quarter last year. On average, equities analysts expect that Continental Resources will post 3.14 earnings per share for the current fiscal year.
In other news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 76.83% of the company’s stock.
Large investors have recently modified their holdings of the company. Worldquant Millennium Quantitative Strategies LLC acquired a new stake in shares of Continental Resources in the 2nd quarter worth approximately $29,364,000. Bank of America Corp DE lifted its stake in shares of Continental Resources by 20.3% in 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 acquiring an additional 226,626 shares during the period. Adams Natural Resources Fund Inc. lifted its stake in shares of Continental Resources by 189.1% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 109,000 shares of the oil and natural gas company’s stock worth $7,443,000 after acquiring an additional 71,300 shares during the period. Ninepoint Partners LP acquired a new stake in shares of Continental Resources in the 3rd quarter worth approximately $4,097,000. Finally, BlackRock Inc. lifted its stake in shares of Continental Resources by 5.6% in 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 acquiring an additional 256,614 shares during the period. 21.61% of the stock is owned by institutional investors.
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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