Continental Resources, Inc. (CLR) Given “Buy” Rating at Stifel Nicolaus
Continental Resources, Inc. (NYSE:CLR)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a report released on Friday. They presently have a $62.00 target price on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 56.53% from the company’s current price.
CLR has been the topic of several other reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $63.00 price objective (up from $60.00) on shares of Continental Resources in a research note on Sunday, January 29th. BMO Capital Markets reduced their price objective on Continental Resources from $13.00 to $11.50 in a research note on Thursday, March 9th. Zacks Investment Research lowered Continental Resources from a “buy” rating to a “hold” rating in a research note on Monday, February 20th. Scotiabank reduced their price objective on Continental Resources from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, March 9th. Finally, Instinet reaffirmed a “positive” rating on shares of Continental Resources in a research note on Monday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Continental Resources has an average rating of “Buy” and a consensus price target of $56.76.
Shares of Continental Resources (NYSE:CLR) traded down 1.25% during mid-day trading on Friday, hitting $39.61. 3,078,995 shares of the stock traded hands. The stock has a 50 day moving average price of $42.81 and a 200-day moving average price of $47.31. Continental Resources has a one year low of $39.30 and a one year high of $60.30. The company’s market cap is $14.70 billion.
Continental Resources (NYSE:CLR) last released its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million. Continental Resources had a negative return on equity of 8.69% and a negative net margin of 28.27%. On average, analysts forecast that Continental Resources will post $0.42 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/05/27/continental-resources-inc-clr-given-buy-rating-at-stifel-nicolaus.html.
In other news, CEO Harold Hamm purchased 36,452 shares of the stock in a transaction dated Wednesday, May 24th. The stock was acquired at an average cost of $42.05 per share, for a total transaction of $1,532,806.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John D. Hart sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $45.50, for a total value of $273,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 111,435 shares of company stock worth $4,727,318. 76.97% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of CLR. Gateway Investment Advisers LLC increased its stake in shares of Continental Resources by 8.0% in the fourth quarter. Gateway Investment Advisers LLC now owns 477,391 shares of the oil and natural gas company’s stock worth $10,970,000 after buying an additional 35,530 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Continental Resources by 7.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 142,660 shares of the oil and natural gas company’s stock worth $3,279,000 after buying an additional 9,730 shares during the period. British Airways Pensions Investment Management Ltd increased its stake in shares of Continental Resources by 59.1% in the fourth quarter. British Airways Pensions Investment Management Ltd now owns 715,210 shares of the oil and natural gas company’s stock worth $16,444,000 after buying an additional 265,740 shares during the period. Caymus Capital Partners L.P. increased its stake in shares of Continental Resources by 43.4% in the fourth quarter. Caymus Capital Partners L.P. now owns 2,322,000 shares of the oil and natural gas company’s stock worth $53,360,000 after buying an additional 703,100 shares during the period. Finally, Bridgeway Capital Management Inc. purchased a new stake in shares of Continental Resources during the second quarter worth $28,606,000. Institutional investors and hedge funds own 23.17% of the company’s stock.
About Continental Resources
Continental Resources, Inc is a crude oil and natural gas 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.
Receive News & Ratings for Continental Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.