Continental Resources, Inc. (NYSE:CLR)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a report issued on Thursday. They currently have a $46.00 price target on the oil and natural gas company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 41.80% from the company’s current price.

CLR has been the subject of a number of other reports. Credit Suisse Group raised Continental Resources from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $57.00 in a research note on Friday, May 5th. They noted that the move was a valuation call. Scotiabank set a $62.00 target price on Continental Resources and gave the stock a “buy” rating in a research note on Monday, March 27th. Barclays PLC reiterated a “buy” rating and set a $53.00 price target (down from $58.00) on shares of Continental Resources in a report on Thursday, April 20th. ValuEngine cut Continental Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Seaport Global Securities cut Continental Resources from a “buy” rating to a “sell” rating and lowered their price target for the stock from $57.00 to $20.00 in a report on Wednesday, June 21st. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company. Continental Resources has a consensus rating of “Buy” and a consensus price target of $51.46.

Continental Resources (NYSE CLR) traded down 3.48% on Thursday, hitting $32.44. 3,722,925 shares of the company were exchanged. Continental Resources has a 52-week low of $29.08 and a 52-week high of $60.30. The stock’s 50-day moving average price is $32.99 and its 200-day moving average price is $42.30. The stock’s market capitalization is $12.04 billion.

Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. Continental Resources had a negative return on equity of 3.93% and a negative net margin of 9.08%. The business had revenue of $685.43 million during the quarter, compared to the consensus estimate of $646.46 million. On average, equities research analysts anticipate that Continental Resources will post $0.25 earnings per share for the current fiscal year.

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In other news, CEO Harold Hamm purchased 36,452 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were bought at an average price of $42.05 per share, with a total value of $1,532,806.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 76.97% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Continental Resources by 3.0% in the first quarter. Vanguard Group Inc. now owns 6,446,564 shares of the oil and natural gas company’s stock valued at $292,802,000 after buying an additional 188,171 shares during the period. BlackRock Inc. increased its position in shares of Continental Resources by 4,992.6% in the first quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock valued at $225,346,000 after buying an additional 4,863,974 shares during the period. Bank of America Corp DE increased its position in shares of Continental Resources by 86.6% in the first quarter. Bank of America Corp DE now owns 3,497,989 shares of the oil and natural gas company’s stock valued at $158,879,000 after buying an additional 1,623,470 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Continental Resources by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 3,074,799 shares of the oil and natural gas company’s stock valued at $139,657,000 after buying an additional 38,889 shares during the period. Finally, State Street Corp increased its position in shares of Continental Resources by 7.5% in the first quarter. State Street Corp now owns 2,796,992 shares of the oil and natural gas company’s stock valued at $127,042,000 after buying an additional 194,211 shares during the period. Institutional investors own 23.03% of the company’s stock.

Continental Resources Company Profile

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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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