Continental Resources, Inc. (NYSE:CLR) had its price objective decreased by equities researchers at Citigroup Inc. from $60.00 to $40.00 in a research note issued on Friday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 27.35% from the company’s previous close.

CLR has been the topic of a number of other research reports. Credit Suisse Group raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $57.00 in a report on Friday, May 5th. They noted that the move was a valuation call. Scotiabank set a $62.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a report on Monday, March 27th. Barclays PLC reissued a “buy” rating and issued a $53.00 price target (down previously from $58.00) on shares of Continental Resources in a report on Thursday, April 20th. ValuEngine lowered shares of Continental Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Seaport Global Securities lowered shares of Continental Resources from a “buy” rating to a “sell” rating and decreased 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 assigned a buy rating to the stock. Continental Resources presently has a consensus rating of “Buy” and a consensus target price of $50.54.

Continental Resources (NYSE CLR) traded down 3.18% during midday trading on Friday, hitting $31.41. 4,721,901 shares of the stock were exchanged. The firm’s market capitalization is $11.66 billion. Continental Resources has a 1-year low of $29.08 and a 1-year high of $60.30. The firm’s 50-day moving average price is $32.84 and its 200 day moving average price is $42.23.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%. Analysts expect that Continental Resources will post $0.22 earnings per share for the current fiscal year.

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In related news, CEO Harold Hamm purchased 36,452 shares of Continental Resources stock in a transaction dated Wednesday, May 24th. The stock was purchased at an average cost of $42.05 per share, for a total transaction 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 have recently made changes to their positions in the stock. Gateway Investment Advisers LLC raised its stake in shares of Continental Resources by 17.3% in the first quarter. Gateway Investment Advisers LLC now owns 287,039 shares of the oil and natural gas company’s stock valued at $13,037,000 after buying an additional 42,351 shares during the period. CWM LLC raised its stake in shares of Continental Resources by 5.0% in the first quarter. CWM LLC now owns 71,515 shares of the oil and natural gas company’s stock valued at $3,248,000 after buying an additional 3,408 shares during the period. Viking Fund Management LLC raised its stake in shares of Continental Resources by 9.8% in the first quarter. Viking Fund Management LLC now owns 280,000 shares of the oil and natural gas company’s stock valued at $12,718,000 after buying an additional 25,000 shares during the period. Skylands Capital LLC raised its stake in shares of Continental Resources by 414.3% in the first quarter. Skylands Capital LLC now owns 18,361 shares of the oil and natural gas company’s stock valued at $834,000 after buying an additional 14,791 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in shares of Continental Resources by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 30,134 shares of the oil and natural gas company’s stock valued at $1,368,000 after buying an additional 400 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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