Merrill Lynch Upgrades Continental Resources Inc. Oklahoma to Buy (CLR)
Continental Resources Inc. Oklahoma (NYSE:CLR) was upgraded by stock analysts at Merrill Lynch to a “buy” rating in a report issued on Tuesday, American Banking & Market News reports.
In other Continental Resources Inc. Oklahoma news, Director Edward Schafer unloaded 1,945 shares of the company’s stock on the open market in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $111.21, for a total transaction of $216,303.45. Following the completion of the transaction, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $1,390,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. upgraded shares of Continental Resources Inc. Oklahoma from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Deutsche Bank downgraded shares of Continental Resources Inc. Oklahoma from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 9th. They now have a $121.00 price target on the stock, down previously from $128.00. Finally, analysts at Barclays initiated coverage on shares of Continental Resources Inc. Oklahoma in a research note to investors on Tuesday, December 3rd. They set an “overweight” rating and a $138.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $123.17.
Shares of Continental Resources Inc. Oklahoma (NYSE:CLR) traded up 1.97% during mid-day trading on Tuesday, hitting $106.97. 1,122,060 shares of the company’s stock traded hands. Continental Resources Inc. Oklahoma has a 52 week low of $72.35 and a 52 week high of $121.78. The stock has a 50-day moving average of $108.5 and a 200-day moving average of $103.0. The company has a market cap of $19.691 billion and a price-to-earnings ratio of 22.67.
Continental Resources Inc. Oklahoma (NYSE:CLR) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.48 by $0.13. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $970.67 million. During the same quarter last year, the company posted $0.87 earnings per share. Continental Resources Inc. Oklahoma’s revenue was up 60.1% compared to the same quarter last year. On average, analysts predict that Continental Resources Inc. Oklahoma will post $5.64 earnings per share for the current fiscal year.
Continental Resources, Inc (NYSE:CLR) is an independent crude oil and natural gas exploration and production company with operations in the North, South and East regions of the United States.
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