Jefferies Group Equities Analysts Lift Earnings Estimates for Continental Resources, Inc. (CLR)
Continental Resources, Inc. (NYSE:CLR) – Research analysts at Jefferies Group raised their Q3 2017 earnings per share (EPS) estimates for Continental Resources in a report issued on Monday. Jefferies Group analyst M. Hsu now forecasts that the oil and natural gas company will post earnings of $0.24 per share for the quarter, up from their prior estimate of $0.23. Jefferies Group has a “Buy” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for Continental Resources’ Q4 2017 earnings at $0.30 EPS, FY2017 earnings at $0.55 EPS and Q1 2018 earnings at $0.31 EPS.
Several other brokerages have also recently weighed in on CLR. Royal Bank Of Canada reiterated a “buy” rating and issued a $63.00 price objective on shares of Continental Resources in a research note on Tuesday, April 25th. Barclays PLC reissued a “buy” rating and issued a $53.00 target price (down from $58.00) on shares of Continental Resources in a report on Thursday, April 20th. FBR & Co reduced their target price on shares of Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating for the company in a report on Monday, May 1st. KLR Group increased their target price on shares of Continental Resources from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Finally, Credit Suisse Group raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $57.00 in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $50.09.
Continental Resources (NYSE CLR) opened at 33.14 on Wednesday. The stock’s market cap is $12.30 billion. The company’s 50-day moving average is $32.47 and its 200 day moving average is $39.84. Continental Resources has a 52 week low of $29.08 and a 52 week high of $60.30.
In related news, CEO Harold Hamm purchased 36,452 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was bought at an average cost of $42.05 per share, for a total transaction of $1,532,806.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 76.97% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. ARP Americas LLC acquired a new stake in Continental Resources during the first quarter valued at $268,000. Glen Harbor Capital Management LLC increased its stake in Continental Resources by 41.8% in the first quarter. Glen Harbor Capital Management LLC now owns 19,648 shares of the oil and natural gas company’s stock valued at $892,000 after buying an additional 5,792 shares during the period. ProShare Advisors LLC increased its stake in Continental Resources by 6.2% in the first quarter. ProShare Advisors LLC now owns 8,062 shares of the oil and natural gas company’s stock valued at $366,000 after buying an additional 471 shares during the period. Korea Investment CORP acquired a new stake in Continental Resources during the first quarter valued at $1,063,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Continental Resources by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,430 shares of the oil and natural gas company’s stock valued at $103,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 22.93% 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.
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