UBS Group restated their buy rating on shares of Continental Resources (NYSE:CLR) in a report released on Friday, www.analystratings.com reports.
CLR has been the subject of a number of other research reports. Morgan Stanley dropped their target price on shares of Continental Resources from $97.00 to $89.00 and set an overweight rating for the company in a report on Thursday, July 12th. Jefferies Financial Group set a $83.00 target price on shares of Continental Resources and gave the stock a buy rating in a report on Friday, July 13th. ValuEngine cut shares of Continental Resources from a buy rating to a hold rating in a report on Monday, July 16th. KLR Group raised shares of Continental Resources from a hold rating to a buy rating and increased their target price for the stock from $67.00 to $78.00 in a report on Tuesday, July 24th. Finally, Citigroup dropped their target price on shares of Continental Resources from $70.00 to $68.00 and set a neutral rating for the company in a report on Wednesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $72.45.
CLR traded up $0.69 on Friday, hitting $50.73. 2,402,894 shares of the stock were exchanged, compared to its average volume of 2,497,204. Continental Resources has a 12 month low of $42.83 and a 12 month high of $71.95. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 99.47, a P/E/G ratio of 1.34 and a beta of 1.46.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business posted $0.09 earnings per share. Continental Resources’s revenue was up 76.4% compared to the same quarter last year. Sell-side analysts anticipate that Continental Resources will post 3.25 EPS for the current fiscal 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 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 at the SEC website. 76.83% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in Continental Resources by 16.9% during the 2nd quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock valued at $970,474,000 after purchasing an additional 2,170,030 shares during the period. BlackRock Inc. increased its position in Continental Resources by 5.5% during the 3rd quarter. BlackRock Inc. now owns 5,095,210 shares of the oil and natural gas company’s stock valued at $347,901,000 after purchasing an additional 266,183 shares during the period. Millennium Management LLC increased its position in Continental Resources by 269.1% during the 2nd quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock valued at $91,673,000 after purchasing an additional 1,032,069 shares during the period. Bank of America Corp DE increased its position in 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 valued at $87,146,000 after purchasing an additional 226,626 shares during the period. Finally, Prudential Financial Inc. increased its position in Continental Resources by 31.0% during the 3rd quarter. Prudential Financial Inc. now owns 1,225,496 shares of the oil and natural gas company’s stock valued at $83,677,000 after purchasing an additional 290,300 shares during the period. 22.43% of the stock is owned by institutional investors and hedge funds.
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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