Continental Resources (CLR) Rating Reiterated by Barclays

Barclays reiterated their overweight rating on shares of Continental Resources (NYSE:CLR) in a research note published on Thursday, MarketBeat Ratings reports. They currently have a $58.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of $53.00.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets boosted their price objective on shares of Continental Resources from $8.00 to $11.00 in a research report on Monday, November 13th. Zacks Investment Research raised shares of Continental Resources from a hold rating to a buy rating and set a $49.00 price target on the stock in a research report on Wednesday, November 8th. Bank of America boosted their price target on shares of Continental Resources from $46.00 to $53.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. Jefferies Group reissued a buy rating and set a $47.00 price target on shares of Continental Resources in a research report on Thursday, October 12th. Finally, Piper Jaffray Companies reissued a buy rating and set a $41.00 price target on shares of Continental Resources in a research report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $49.15.

Continental Resources (CLR) traded down $0.67 on Thursday, reaching $57.66. 2,144,700 shares of the company traded hands, compared to its average volume of 1,862,889. The company has a market cap of $21,640.00, a PE ratio of -823.71 and a beta of 1.44. Continental Resources has a 1-year low of $29.08 and a 1-year high of $58.89. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The firm’s revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) EPS. equities research analysts predict that Continental Resources will post 0.34 EPS for the current fiscal year.

In other news, CFO John D. Hart sold 6,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $51.23, for a total value of $307,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total transaction of $958,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,874 shares of company stock worth $2,603,673. 76.87% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in Continental Resources by 11.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 222,557 shares of the oil and natural gas company’s stock valued at $7,196,000 after buying an additional 22,383 shares during the last quarter. SG Americas Securities LLC grew its stake in Continental Resources by 9.5% in the 2nd quarter. SG Americas Securities LLC now owns 8,057 shares of the oil and natural gas company’s stock valued at $260,000 after buying an additional 696 shares during the last quarter. Utah Retirement Systems grew its stake in Continental Resources by 1.3% in the 2nd quarter. Utah Retirement Systems now owns 16,004 shares of the oil and natural gas company’s stock valued at $517,000 after buying an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Continental Resources by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock valued at $255,000 after buying an additional 146 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Continental Resources by 252.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 739,715 shares of the oil and natural gas company’s stock valued at $23,915,000 after buying an additional 529,664 shares during the last quarter. 22.55% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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