B. Riley reaffirmed their buy rating on shares of Continental Resources (NYSE:CLR) in a report published on Friday, Marketbeat Ratings reports. B. Riley currently has a $70.00 target price on the oil and natural gas company’s stock, down from their prior target price of $78.00.
CLR has been the topic of several other reports. Barclays reiterated an overweight rating and set a $58.00 price target (up from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Credit Suisse Group started coverage on shares of Continental Resources in a research report on Monday, December 11th. They set an outperform rating and a $57.00 price objective on the stock. Zacks Investment Research downgraded shares of Continental Resources from a buy rating to a hold rating in a research report on Monday, November 13th. Macquarie raised shares of Continental Resources from a neutral rating to an outperform rating and raised their price objective for the stock from $53.57 to $55.00 in a research report on Thursday, December 14th. Finally, KeyCorp reissued a hold rating on shares of Continental Resources in a research report on Monday, November 13th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $55.46.
Shares of Continental Resources (CLR) traded up $1.81 during trading hours on Friday, reaching $50.25. 2,937,437 shares of the company traded hands, compared to its average volume of 2,830,000. Continental Resources has a 12-month low of $29.08 and a 12-month high of $58.89. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.85. The firm has a market cap of $18,850.00, a price-to-earnings ratio of 264.47 and a beta of 1.36.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $978.63 million. During the same period last year, the business earned ($0.07) EPS. Continental Resources’s revenue for the quarter was up 90.5% compared to the same quarter last year. research analysts anticipate that Continental Resources will post 1.97 EPS for the current fiscal year.
In other news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $49.52, for a total value of $247,600.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark E. Monroe sold 20,000 shares of Continental Resources 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. In the last ninety days, insiders sold 52,874 shares of company stock worth $2,603,673. Insiders own 76.87% of the company’s stock.
Large investors have recently modified their holdings of the company. American International Group Inc. purchased a new stake in shares of Continental Resources in the fourth quarter valued at about $102,000. Exane Derivatives purchased a new stake in Continental Resources during the fourth quarter worth about $113,000. Bellwether Investment Group LLC purchased a new stake in Continental Resources during the fourth quarter worth about $202,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Continental Resources by 126.7% during 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 buying an additional 1,900 shares in the last quarter. Finally, Calton & Associates Inc. purchased a new stake in Continental Resources during the fourth quarter worth about $200,000. 22.37% of the stock is currently owned by institutional investors and hedge funds.
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Continental Resources Company Profile
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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