Shares of Continental Resources, Inc. (NYSE:CLR) have earned a consensus rating of “Buy” from the thirty-one ratings firms that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $51.93.
A number of brokerages have issued reports on CLR. Cowen set a $58.00 price objective on Continental Resources and gave the company a “hold” rating in a research report on Thursday. Tudor Pickering downgraded Continental Resources from a “buy” rating to a “hold” rating in a research report on Thursday. Susquehanna Bancshares restated a “neutral” rating and set a $61.00 price objective on shares of Continental Resources in a research report on Wednesday. UBS Group downgraded Continental Resources from a “positive” rating to a “neutral” rating in a research report on Wednesday. Finally, Barclays restated an “overweight” rating and set a $58.00 price objective (up from $53.00) on shares of Continental Resources in a research report on Thursday, January 11th.
Shares of Continental Resources (NYSE CLR) traded down $0.48 during mid-day trading on Friday, reaching $55.17. The company’s stock had a trading volume of 1,811,335 shares, compared to its average volume of 1,860,000. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $58.89. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. The stock has a market capitalization of $20,700.00, a P/E ratio of -788.14 and a beta of 1.44.
In related news, CFO John D. Hart sold 6,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Gary E. Gould sold 9,874 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total value of $502,092.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,874 shares of company stock worth $2,603,673. Company insiders own 76.87% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in Continental Resources in the fourth quarter worth approximately $317,000. Schwab Charles Investment Management Inc. grew its stake in Continental Resources by 15.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 276,253 shares of the oil and natural gas company’s stock worth $14,634,000 after purchasing an additional 36,983 shares in the last quarter. Creative Planning boosted its position in Continental Resources by 36.4% during the 4th quarter. Creative Planning now owns 16,714 shares of the oil and natural gas company’s stock valued at $885,000 after acquiring an additional 4,460 shares in the last quarter. Bank of Montreal Can boosted its position in Continental Resources by 95.0% during the 4th quarter. Bank of Montreal Can now owns 148,574 shares of the oil and natural gas company’s stock valued at $7,869,000 after acquiring an additional 72,391 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Continental Resources by 13.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 67,386 shares of the oil and natural gas company’s stock valued at $3,569,000 after acquiring an additional 8,186 shares in the last quarter. 22.55% of the stock is currently owned by institutional investors.
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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