Continental Resources’ (CLR) “Hold” Rating Reaffirmed at KeyCorp

KeyCorp reiterated their hold rating on shares of Continental Resources, Inc. (NYSE:CLR) in a report released on Monday. KeyCorp also issued estimates for Continental Resources’ Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.32 EPS and FY2018 earnings at $0.91 EPS.

CLR has been the subject of several other reports. BidaskClub upgraded Continental Resources from a strong sell rating to a sell rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Continental Resources from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Barclays PLC raised their price objective on Continental Resources from $37.00 to $42.00 and gave the stock an overweight rating in a research note on Wednesday, October 11th. Royal Bank Of Canada raised their price objective on Continental Resources from $48.00 to $51.00 and gave the stock an outperform rating in a research note on Thursday, November 9th. Finally, Citigroup Inc. reduced their price objective on Continental Resources from $60.00 to $40.00 and set a buy rating for the company in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $46.27.

Shares of Continental Resources (NYSE:CLR) traded down $0.86 during mid-day trading on Monday, reaching $45.83. The company had a trading volume of 3,974,900 shares, compared to its average volume of 2,870,929. Continental Resources has a 12 month low of $29.08 and a 12 month high of $60.30. The company has a market capitalization of $17,518.50, a P/E ratio of 1,167.25 and a beta of 1.40. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94.

Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $726.74 million for the quarter, compared to the consensus estimate of $710.77 million. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.22) earnings per share. sell-side analysts predict that Continental Resources will post 0.23 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new position in Continental Resources during the third quarter worth $52,973,000. Boothbay Fund Management LLC acquired a new position in Continental Resources during the third quarter worth $266,000. Oppenheimer Asset Management Inc. boosted its stake in Continental Resources by 15.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 9,089 shares of the oil and natural gas company’s stock worth $351,000 after buying an additional 1,216 shares during the last quarter. Southport Management L.L.C. acquired a new position in Continental Resources during the third quarter worth $386,000. Finally, Heritage Trust Co boosted its stake in Continental Resources by 36.4% during the third quarter. Heritage Trust Co now owns 6,000 shares of the oil and natural gas company’s stock worth $232,000 after buying an additional 1,600 shares during the last quarter. 23.27% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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