Continental Resources (NYSE:CLR) was upgraded by Macquarie from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a $55.00 price objective on the oil and natural gas company’s stock, up from their previous price objective of $53.57. Macquarie’s price target points to a potential upside of 16.13% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Continental Resources from $8.00 to $11.00 in a research note on Monday, November 13th. Jefferies Group set a $42.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Stifel Nicolaus set a $59.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research note on Friday, August 25th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $41.00 target price on shares of Continental Resources in a research note on Friday, October 6th. Finally, SunTrust Banks set a $50.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.60.
Shares of Continental Resources (NYSE:CLR) traded up $0.05 on Thursday, reaching $47.36. 2,879,379 shares of the company’s stock traded hands, compared to its average volume of 2,795,795. Continental Resources has a 1-year low of $29.08 and a 1-year high of $53.57. The firm has a market capitalization of $18,028.79, a P/E ratio of 1,201.25 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.
Several institutional investors have recently modified their holdings of CLR. Aperio Group LLC grew its stake in shares of Continental Resources by 17.9% in the second quarter. Aperio Group LLC now owns 31,156 shares of the oil and natural gas company’s stock worth $1,007,000 after purchasing an additional 4,737 shares during the last quarter. Shell Asset Management Co. grew its stake in shares of Continental Resources by 17.7% in the second quarter. Shell Asset Management Co. now owns 6,266 shares of the oil and natural gas company’s stock worth $203,000 after purchasing an additional 944 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Continental Resources by 1.4% in the second quarter. Canada Pension Plan Investment Board now owns 295,627 shares of the oil and natural gas company’s stock worth $9,558,000 after purchasing an additional 4,000 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Continental Resources by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 222,557 shares of the oil and natural gas company’s stock worth $7,196,000 after purchasing an additional 22,383 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Continental Resources by 21.5% in the second quarter. First Trust Advisors LP now owns 267,225 shares of the oil and natural gas company’s stock worth $8,639,000 after purchasing an additional 47,359 shares during the last quarter. 22.59% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY WARNING: “Macquarie Upgrades Continental Resources (CLR) to “Outperform”” was first reported by American Banking and Market News and is the sole property of of American Banking and Market News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/12/14/macquarie-upgrades-continental-resources-clr-to-outperform.html.
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.