Continental Resources, Inc. (CLR) Research Coverage Started at Imperial Capital
Investment analysts at Imperial Capital began coverage on shares of Continental Resources, Inc. (NYSE:CLR) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage set an “in-line” rating and a $41.00 price target on the oil and natural gas company’s stock. Imperial Capital’s price objective points to a potential upside of 8.41% from the stock’s previous close. Imperial Capital also issued estimates for Continental Resources’ Q3 2017 earnings at ($0.04) EPS, Q4 2017 earnings at $0.00 EPS, FY2017 earnings at ($0.03) EPS and FY2018 earnings at $0.65 EPS.
Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded Continental Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $63.00 target price on Continental Resources and gave the company a “buy” rating in a report on Saturday, June 3rd. Barclays PLC set a $37.00 price objective on Continental Resources and gave the stock an “overweight” rating in a report on Thursday, August 10th. Piper Jaffray Companies decreased their price objective on Continental Resources from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Finally, BMO Capital Markets decreased their price objective on Continental Resources from $45.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. Continental Resources presently has a consensus rating of “Buy” and an average target price of $45.83.
Shares of Continental Resources (NYSE:CLR) traded up 0.42% during mid-day trading on Tuesday, reaching $37.82. The company’s stock had a trading volume of 1,969,272 shares. Continental Resources has a 1-year low of $29.08 and a 1-year high of $60.30. The company’s market capitalization is $14.19 billion. The company’s 50 day moving average price is $33.93 and its 200-day moving average price is $37.73.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of Continental Resources by 1.4% during the first quarter. M&T Bank Corp now owns 6,125 shares of the oil and natural gas company’s stock valued at $278,000 after buying an additional 85 shares during the last quarter. Comerica Bank raised its holdings in shares of Continental Resources by 0.7% during the first quarter. Comerica Bank now owns 15,941 shares of the oil and natural gas company’s stock valued at $677,000 after buying an additional 110 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Continental Resources by 1.5% during the second quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock valued at $264,000 after buying an additional 118 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Continental Resources by 1.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock valued at $255,000 after buying an additional 146 shares during the last quarter. Finally, Utah Retirement Systems raised its holdings in shares of Continental Resources by 1.3% during the second quarter. Utah Retirement Systems now owns 16,004 shares of the oil and natural gas company’s stock valued at $517,000 after buying an additional 200 shares during the last quarter. 23.30% of the stock is currently owned by institutional investors.
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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