Continental Resources, Inc. (CLR) Given Average Rating of “Buy” by Brokerages
Continental Resources, Inc. (NYSE:CLR) has been assigned a consensus rating of “Buy” from the twenty-five research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $46.18.
A number of equities analysts recently commented on CLR shares. Scotiabank reiterated a “buy” rating and set a $52.00 price objective on shares of Continental Resources in a research report on Friday, June 30th. Royal Bank Of Canada reissued a “buy” rating and set a $46.00 target price on shares of Continental Resources in a research note on Thursday, July 20th. Zacks Investment Research cut Continental Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Barclays PLC reissued a “buy” rating and set a $34.00 target price on shares of Continental Resources in a research note on Friday, July 7th. Finally, BidaskClub raised Continental Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th.
Shares of Continental Resources (CLR) traded up 1.95% during trading on Wednesday, reaching $37.64. The company has a 50 day moving average of $36.15 and a 200-day moving average of $37.07. Continental Resources has a one year low of $29.08 and a one year high of $60.30. The stock’s market capitalization is $13.97 billion.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Architects Inc lifted its holdings in shares of Continental Resources by 870.0% in the 2nd quarter. Financial Architects Inc now owns 4,850 shares of the oil and natural gas company’s stock valued at $157,000 after purchasing an additional 4,350 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Continental Resources by 17.7% in the 2nd quarter. Shell Asset Management Co. now owns 6,266 shares of the oil and natural gas company’s stock valued at $203,000 after purchasing an additional 944 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of Continental Resources in the 2nd quarter valued at about $210,000. KBC Group NV lifted its holdings in shares of Continental Resources by 4.7% in the 1st quarter. KBC Group NV now owns 4,657 shares of the oil and natural gas company’s stock valued at $211,000 after purchasing an additional 207 shares during the last quarter. Finally, Sii Investments Inc. WI lifted its holdings in shares of Continental Resources by 25.6% in the 1st quarter. Sii Investments Inc. WI now owns 5,150 shares of the oil and natural gas company’s stock valued at $235,000 after purchasing an additional 1,050 shares during the last quarter. 23.37% of the stock is owned by institutional investors.
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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.
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