Continental Resources (CLR) Trading 5.3% Higher

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Continental Resources, Inc. (NYSE:CLR) traded up 5.3% during mid-day trading on Friday . The stock traded as high as $67.55 and last traded at $66.20. 2,665,425 shares were traded during trading, an increase of 13% from the average session volume of 2,365,657 shares. The stock had previously closed at $62.85.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “strong-buy” rating and set a $75.00 price objective for the company in a research report on Thursday, June 14th. B. Riley raised their price objective on shares of Continental Resources from $70.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, June 11th. LADENBURG THALM/SH SH raised their price objective on shares of Continental Resources to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 3rd. Stifel Nicolaus set a $66.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research report on Monday, April 23rd. Finally, ValuEngine upgraded shares of Continental Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Eleven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $64.56.

The company has a market cap of $23.98 billion, a PE ratio of 129.80 and a beta of 1.27. The company has a current ratio of 0.93, a quick ratio of 0.85 and a debt-to-equity ratio of 1.15.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, May 2nd. The oil and natural gas company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Continental Resources had a net margin of 28.60% and a return on equity of 9.23%. The firm’s quarterly revenue was up 66.5% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. equities analysts anticipate that Continental Resources, Inc. will post 3.2 EPS for the current fiscal year.

In other Continental Resources news, SVP Steven K. Owen sold 18,000 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,190,880.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Harold Hamm bought 136,000 shares of the firm’s stock in a transaction on Tuesday, May 29th. The shares were bought at an average cost of $65.30 per share, for a total transaction of $8,880,800.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 33,222 shares of company stock worth $2,239,434. Insiders own 76.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of Continental Resources by 6.1% during the first quarter. The Manufacturers Life Insurance Company now owns 15,559 shares of the oil and natural gas company’s stock worth $918,000 after buying an additional 899 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Continental Resources by 16.4% during the first quarter. Toronto Dominion Bank now owns 6,438 shares of the oil and natural gas company’s stock worth $379,000 after purchasing an additional 909 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in shares of Continental Resources by 8.8% during the first quarter. Xact Kapitalforvaltning AB now owns 11,321 shares of the oil and natural gas company’s stock worth $667,000 after purchasing an additional 915 shares during the period. Amalgamated Bank lifted its holdings in shares of Continental Resources by 12.8% during the fourth quarter. Amalgamated Bank now owns 9,189 shares of the oil and natural gas company’s stock worth $487,000 after purchasing an additional 1,041 shares during the period. Finally, Credit Agricole S A lifted its holdings in shares of Continental Resources by 85.7% during the first quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock worth $153,000 after purchasing an additional 1,200 shares during the period. 22.43% 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 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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