Continental Resources (CLR) Earns “Buy” Rating from UBS Group

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Continental Resources (NYSE:CLR)‘s stock had its “buy” rating restated by analysts at UBS Group in a research note issued to investors on Friday, www.analystratings.com reports.

Several other equities research analysts have also recently issued reports on CLR. Guggenheim reissued a “buy” rating and set a $74.00 target price on shares of Continental Resources in a research note on Thursday, November 1st. Morgan Stanley cut their target price on Continental Resources from $97.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. ValuEngine raised Continental Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Barclays reissued a “hold” rating on shares of Continental Resources in a research note on Monday, October 29th. Finally, TD Securities raised Continental Resources from a “hold” rating to a “buy” rating and cut their target price for the stock from $74.00 to $70.00 in a research note on Tuesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Continental Resources has an average rating of “Buy” and a consensus price target of $72.45.

NYSE:CLR opened at $50.73 on Friday. Continental Resources has a one year low of $42.83 and a one year 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 company has a market capitalization of $19.65 billion, a P/E 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 results on Monday, October 29th. The oil and natural gas company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 76.4% on a year-over-year basis. As a group, equities research analysts anticipate that Continental Resources will post 3.25 earnings per share for the current year.

In other news, SVP Gary E. Gould sold 5,000 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 76.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in shares of Continental Resources by 13.6% during the third quarter. Canada Pension Plan Investment Board now owns 521,820 shares of the oil and natural gas company’s stock worth $35,630,000 after buying an additional 62,500 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Continental Resources by 30.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 14,496 shares of the oil and natural gas company’s stock worth $988,000 after buying an additional 3,368 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Continental Resources by 63.9% during the third quarter. Rafferty Asset Management LLC now owns 7,927 shares of the oil and natural gas company’s stock worth $541,000 after buying an additional 3,090 shares during the period. Ffcm LLC boosted its position in shares of Continental Resources by 22.4% during the third quarter. Ffcm LLC now owns 28,338 shares of the oil and natural gas company’s stock worth $1,937,000 after buying an additional 5,180 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Continental Resources by 5.5% during the third quarter. BlackRock Inc. now owns 5,095,210 shares of the oil and natural gas company’s stock worth $347,901,000 after buying an additional 266,183 shares during the period. Institutional investors and hedge funds own 22.43% of the company’s stock.

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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Analyst Recommendations for Continental Resources (NYSE:CLR)

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