Continental Resources Inc. (CLR) Receives Consensus Rating of “Buy” from Analysts
Continental Resources Inc. (NYSE:CLR) has been assigned an average rating of “Buy” from the thirty-one brokerages that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $44.61.
Several equities analysts have recently issued reports on the company. KLR Group downgraded Continental Resources from a “buy” rating to an “accumulate” rating and boosted their price objective for the stock from $48.00 to $54.00 in a research report on Monday, July 18th. Stifel Nicolaus restated a “hold” rating on shares of Continental Resources in a research report on Wednesday, August 31st. SunTrust Banks Inc. upgraded Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, August 1st. Deutsche Bank AG upped their target price on Continental Resources from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Finally, Nomura upped their target price on Continental Resources from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 25th.
In other news, SVP Steven K. Owen sold 3,200 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $46.54, for a total transaction of $148,928.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jack H. Stark sold 12,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $49.24, for a total transaction of $590,880.00. The disclosure for this sale can be found here. Insiders own 76.97% of the company’s stock.
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Several hedge funds have recently added to or reduced their stakes in CLR. FMR LLC boosted its stake in Continental Resources by 97.7% in the second quarter. FMR LLC now owns 15,378,725 shares of the company’s stock valued at $696,195,000 after buying an additional 7,600,699 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Continental Resources by 90.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,575,000 shares of the company’s stock valued at $47,817,000 after buying an additional 750,000 shares during the period. Columbus Hill Capital Management L.P. boosted its stake in Continental Resources by 126.0% in the second quarter. Columbus Hill Capital Management L.P. now owns 1,335,500 shares of the company’s stock valued at $60,458,000 after buying an additional 744,500 shares during the period. JVL Advisors L.L.C. boosted its stake in Continental Resources by 361.4% in the first quarter. JVL Advisors L.L.C. now owns 885,000 shares of the company’s stock valued at $26,869,000 after buying an additional 693,200 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Continental Resources by 104.2% in the second quarter. First Trust Advisors LP now owns 1,247,279 shares of the company’s stock worth $56,464,000 after buying an additional 636,562 shares during the last quarter. 23.37% of the stock is currently owned by institutional investors and hedge funds.
Continental Resources (NYSE:CLR) traded down 1.96% during midday trading on Tuesday, hitting $53.08. The stock had a trading volume of 1,953,593 shares. The stock’s market cap is $19.66 billion. The firm has a 50 day moving average price of $49.20 and a 200 day moving average price of $42.95. Continental Resources has a one year low of $13.94 and a one year high of $55.07.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. The business had revenue of $525.70 million for the quarter, compared to analyst estimates of $518.42 million. Continental Resources had a negative return on equity of 7.57% and a negative net margin of 24.96%. The business’s quarterly revenue was down 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Equities analysts expect that Continental Resources will post ($0.80) EPS for the current year.
Continental Resources Company Profile
Continental Resources, Inc is an independent crude oil and natural gas exploration and production company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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