Continental Resources (NYSE:CLR) had its price target lifted by stock analysts at Morgan Stanley from $56.00 to $70.00 in a note issued to investors on Wednesday. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 21.46% from the stock’s current price.
Other research analysts also recently issued reports about the stock. Cowen set a $58.00 price objective on shares of Continental Resources and gave the company a “hold” rating in a research report on Thursday, January 18th. SunTrust Banks reissued a “buy” rating and set a $55.00 price objective on shares of Continental Resources in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Tudor Pickering downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, KeyCorp restated a “hold” rating on shares of Continental Resources in a report on Thursday, October 12th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $51.54.
Shares of Continental Resources (NYSE CLR) traded up $0.56 during midday trading on Wednesday, hitting $57.63. 1,230,614 shares of the company traded hands, compared to its average volume of 1,950,000. 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 12 month low of $29.08 and a 12 month high of $58.89. The stock has a market capitalization of $21,620.00, a P/E ratio of -823.29 and a beta of 1.44.
Continental Resources (NYSE:CLR) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $726.74 million for the quarter, compared to the consensus estimate of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) earnings per share. equities analysts predict that Continental Resources will post 0.36 EPS for the current year.
In related news, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $50.85, for a total transaction of $502,092.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,874 shares of company stock worth $2,603,673. 76.87% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in CLR. Toronto Dominion Bank raised its position in Continental Resources by 244.1% in the 3rd quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 2,810 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Continental Resources by 35.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after buying an additional 1,261 shares during the last quarter. Sii Investments Inc. WI purchased a new position in Continental Resources in the 3rd quarter worth about $200,000. Sei Investments Co. increased its position in shares of Continental Resources by 131.7% during the 3rd quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock valued at $205,000 after purchasing an additional 3,009 shares during the last quarter. Finally, Hardman Johnston Global Advisors LLC purchased a new stake in shares of Continental Resources during the 4th quarter valued at about $212,000. Institutional investors own 22.56% 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.