Continental Resources (NYSE:CLR) had its price objective hoisted by investment analysts at UBS Group from $7.00 to $16.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the oil and natural gas company’s stock. UBS Group’s price target would indicate a potential downside of 8.73% from the company’s current price.
A number of other research analysts have also recently weighed in on CLR. Siebert Williams Shank initiated coverage on Continental Resources in a research report on Monday, June 15th. They issued a “hold” rating and a $18.00 price target for the company. Bank of America lifted their price objective on Continental Resources from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Cfra dropped their price objective on Continental Resources from $21.00 to $8.00 and set a “sell” rating for the company in a research report on Monday, March 9th. Imperial Capital lifted their price objective on Continental Resources from $14.00 to $18.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 23rd. Finally, Wolfe Research cut Continental Resources to an “underperform” rating in a research report on Thursday, April 2nd. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.64.
Shares of CLR stock opened at $17.53 on Monday. Continental Resources has a fifty-two week low of $6.90 and a fifty-two week high of $43.57. The stock has a market cap of $5.51 billion, a P/E ratio of 16.23 and a beta of 3.43. The business has a fifty day simple moving average of $15.34 and a 200-day simple moving average of $20.09. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.88.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Monday, May 11th. The oil and natural gas company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). Continental Resources had a net margin of 9.18% and a return on equity of 8.60%. The firm had revenue of $880.80 million during the quarter, compared to analysts’ expectations of $843.57 million. During the same quarter in the prior year, the business earned $0.58 EPS. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Continental Resources will post -1.4 earnings per share for the current year.
In related news, Chairman Harold Hamm purchased 1,224,474 shares of Continental Resources stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $16.98 per share, with a total value of $20,791,568.52. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy Garth Taylor purchased 7,265 shares of Continental Resources stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average cost of $13.64 per share, for a total transaction of $99,094.60. The disclosure for this purchase can be found here. Insiders bought a total of 2,531,739 shares of company stock worth $41,703,663 over the last ninety days. Corporate insiders own 79.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CLR. PNC Financial Services Group Inc. increased its holdings in Continental Resources by 80.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,909 shares of the oil and natural gas company’s stock worth $38,000 after purchasing an additional 2,182 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Continental Resources during the 4th quarter worth approximately $85,000. IFM Investors Pty Ltd increased its holdings in Continental Resources by 52.4% during the 1st quarter. IFM Investors Pty Ltd now owns 10,989 shares of the oil and natural gas company’s stock worth $85,000 after purchasing an additional 3,777 shares during the last quarter. Wetherby Asset Management Inc. purchased a new stake in Continental Resources during the 1st quarter worth approximately $95,000. Finally, LexAurum Advisors LLC increased its holdings in Continental Resources by 12.8% during the 1st quarter. LexAurum Advisors LLC now owns 12,857 shares of the oil and natural gas company’s stock worth $98,000 after purchasing an additional 1,460 shares during the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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.
Featured Story: Trading Strategy
Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.