Continental Resources (NYSE:CLR) had its price objective reduced by Morgan Stanley from $84.00 to $76.00 in a research report sent to investors on Monday morning. They currently have a buy rating on the oil and natural gas company’s stock.
CLR has been the topic of a number of other reports. Royal Bank of Canada set a $81.00 target price on Continental Resources and gave the stock a buy rating in a report on Thursday, September 20th. BMO Capital Markets cut Continental Resources from an outperform rating to a market perform rating in a report on Tuesday, October 9th. They noted that the move was a valuation call. KLR Group restated a buy rating and issued a $78.00 target price on shares of Continental Resources in a report on Monday, August 20th. Seaport Global Securities restated a neutral rating on shares of Continental Resources in a report on Wednesday, July 25th. Finally, Jefferies Financial Group set a $83.00 target price on Continental Resources and gave the stock a buy rating in a research report on Friday, July 13th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $72.03.
Shares of NYSE CLR traded down $1.61 during mid-day trading on Monday, reaching $48.43. The company had a trading volume of 18,466 shares, compared to its average volume of 2,506,927. 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 $19.00 billion, a price-to-earnings ratio of 94.96, a PEG ratio of 1.29 and a beta of 1.46. Continental Resources has a 1-year low of $42.83 and a 1-year high of $71.95.
Continental Resources (NYSE:CLR) last issued its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The company’s quarterly revenue was up 76.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. As a group, analysts anticipate that Continental Resources will post 3.25 earnings per share for the current year.
In related news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 76.83% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLR. Russell Investments Group Ltd. raised its holdings in Continental Resources by 149.8% during the first quarter. Russell Investments Group Ltd. now owns 6,468 shares of the oil and natural gas company’s stock valued at $381,000 after buying an additional 3,879 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 valued at $918,000 after buying an additional 899 shares in the last quarter. IFM Investors Pty Ltd bought a new position in Continental Resources during the second quarter valued at about $245,000. State of Alaska Department of Revenue raised its holdings in Continental Resources by 35.2% during the second quarter. State of Alaska Department of Revenue now owns 9,950 shares of the oil and natural gas company’s stock valued at $644,000 after buying an additional 2,590 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Continental Resources by 39.3% during the second quarter. Raymond James Trust N.A. now owns 10,109 shares of the oil and natural gas company’s stock valued at $655,000 after buying an additional 2,852 shares in the last quarter. 22.43% of the stock is 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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