Continental Resources (CLR) Cut to Hold at Tudor Pickering

Continental Resources (NYSE:CLR) was downgraded by analysts at Tudor Pickering from a “buy” rating to a “hold” rating in a report released on Thursday, The Fly reports.

CLR has been the subject of several other research reports. TheStreet upgraded shares of Continental Resources from a “d+” rating to a “c” rating in a research report on Friday, November 17th. Royal Bank of Canada raised their price objective on shares of Continental Resources from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Barclays raised their price objective on shares of Continental Resources from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of 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. Finally, Morgan Stanley raised their price objective on shares of Continental Resources from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $50.54.

Continental Resources (NYSE CLR) traded down $0.48 during trading on Thursday, reaching $55.17. 1,810,535 shares of the company’s stock traded hands, compared to its average volume of 1,880,000. The firm has a market cap of $20,700.00, a PE ratio of -788.14 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. Continental Resources has a 52-week low of $29.08 and a 52-week high of $58.89.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data 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 negative net margin of 0.95% and a positive return on equity of 0.23%. The company had revenue of $726.74 million during the quarter, compared to analyst estimates of $710.77 million. During the same quarter last year, the firm posted ($0.22) EPS. The business’s revenue for the quarter was up 38.1% on a year-over-year basis. equities research analysts anticipate that Continental Resources will post 0.34 earnings per share for the current year.

In related news, SVP Gary E. Gould sold 9,874 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $50.85, for a total transaction of $502,092.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark E. Monroe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total transaction of $958,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,874 shares of company stock valued at $2,603,673. Corporate insiders own 76.87% of the company’s stock.

Several hedge funds have recently bought and sold shares of CLR. Toronto Dominion Bank boosted its holdings in shares of Continental Resources by 244.1% during 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. boosted its holdings in shares of Continental Resources by 35.0% during 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 acquired a new stake in shares of Continental Resources during the third quarter worth approximately $200,000. Sei Investments Co. boosted its holdings in shares of Continental Resources by 131.7% during 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 acquired a new stake in shares of Continental Resources during the third quarter worth approximately $214,000. Institutional investors and hedge funds own 22.55% 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.

The Fly

Analyst Recommendations for Continental Resources (NYSE:CLR)

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