Continental Resources (CLR) Stock Rating Reaffirmed by Barclays
Continental Resources (NYSE:CLR)‘s stock had its “overweight” rating reiterated by analysts at Barclays in a research note issued to investors on Thursday. They currently have a $58.00 price target on the oil and natural gas company’s stock, up from their prior price target of $53.00. Barclays’ target price suggests a potential downside of 0.57% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. TheStreet raised Continental Resources from a “d+” rating to a “c” rating in a research report on Friday, November 17th. Royal Bank of Canada lifted their price objective on Continental Resources from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, November 8th. Morgan Stanley lifted their price objective on Continental Resources from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Scotiabank reduced their price objective on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday, November 10th. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.15.
Shares of Continental Resources (CLR) traded up $1.80 during trading on Thursday, hitting $58.33. The stock had a trading volume of 2,370,000 shares, compared to its average volume of 1,790,000. The firm has a market capitalization of $21,890.00, a PE ratio of -833.29 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. Continental Resources has a 1-year low of $29.08 and a 1-year high of $58.89.
In other news, Director Mark E. Monroe sold 20,000 shares of Continental Resources stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total value of $958,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John D. Hart sold 6,000 shares of Continental Resources stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,874 shares of company stock worth $2,603,673. Corporate insiders own 76.87% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank increased its stake in shares of Continental Resources by 244.1% in the third quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock worth $153,000 after purchasing an additional 2,810 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Continental Resources by 35.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after purchasing an additional 1,261 shares during the period. Sii Investments Inc. WI bought a new position in shares of Continental Resources in the third quarter worth about $200,000. Sei Investments Co. increased its stake in shares of Continental Resources by 131.7% in the third quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 3,009 shares during the period. Finally, Bridgecreek Investment Management LLC bought a new position in shares of Continental Resources in the third quarter worth about $214,000. Institutional investors and hedge funds own 22.53% of the company’s stock.
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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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