Continental Resources, Inc. (NYSE:CLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations. “

Other analysts also recently issued reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $46.00 price objective on shares of Continental Resources in a research note on Thursday, July 20th. Cowen and Company set a $35.00 price objective on Continental Resources and gave the company a “hold” rating in a research note on Tuesday, July 18th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $41.00 price objective on shares of Continental Resources in a research note on Friday, October 6th. Bank of America Corporation upped their price objective on Continental Resources from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, Jefferies Group LLC set a $42.00 price objective on Continental Resources and gave the company a “buy” rating in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $46.27.

Continental Resources (NYSE CLR) traded up $0.37 during trading on Monday, hitting $46.69. The stock had a trading volume of 2,854,600 shares, compared to its average volume of 2,865,865. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $60.30. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The stock has a market cap of $17,518.50, a P/E ratio of 1,167.25 and a beta of 1.40.

Continental Resources (NYSE:CLR) last posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The business had revenue of $726.74 million during the quarter, compared to the consensus estimate of $710.77 million. During the same period in the previous year, the business earned ($0.22) EPS. The business’s quarterly revenue was up 38.1% on a year-over-year basis. sell-side analysts forecast that Continental Resources will post 0.23 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in CLR. Renaissance Technologies LLC grew its holdings in Continental Resources by 474.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after buying an additional 2,389,400 shares during the last quarter. FMR LLC grew its holdings in Continental Resources by 16.5% during the 2nd quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock valued at $427,027,000 after buying an additional 1,875,103 shares during the last quarter. Vanguard Group Inc. grew its holdings in Continental Resources by 26.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after buying an additional 1,703,303 shares during the last quarter. Balyasny Asset Management LLC grew its holdings in Continental Resources by 208.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock valued at $77,106,000 after buying an additional 1,611,003 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Continental Resources by 101.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock valued at $57,798,000 after buying an additional 748,025 shares during the last quarter. Hedge funds and other institutional investors own 23.27% 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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