Continental Resources (NYSE:CLR) has been given a $71.00 price objective by investment analysts at Stifel Nicolaus in a note issued to investors on Monday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 29.85% from the stock’s previous close.
Several other equities analysts have also recently commented on the company. Barclays restated an “overweight” rating and set a $58.00 target price (up from $53.00) on shares of Continental Resources in a research report on Thursday, January 11th. Scotiabank reduced their target price 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. Macquarie upgraded Continental Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $53.57 to $55.00 in a research report on Thursday, December 14th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $41.00 target price on shares of Continental Resources in a research report on Friday, October 6th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Continental Resources currently has a consensus rating of “Buy” and an average price target of $52.10.
Shares of Continental Resources (NYSE CLR) traded down $1.99 during midday trading on Monday, hitting $54.68. The stock had a trading volume of 3,450,197 shares, compared to its average volume of 1,930,000. The stock has a market capitalization of $20,520.00, a PE ratio of -781.14 and a beta of 1.44. Continental Resources has a one year low of $29.08 and a one year 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.
In other news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total value of $247,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark E. Monroe sold 20,000 shares of the business’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 disclosure for this sale can be found here. In the last three months, insiders sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives bought a new stake in shares of Continental Resources in the 4th quarter valued at about $113,000. Bellwether Investment Group LLC bought a new stake in shares of Continental Resources in the 4th quarter valued at about $202,000. Toronto Dominion Bank lifted its stake in shares of 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 valued at $153,000 after acquiring an additional 2,810 shares during the last quarter. Hardman Johnston Global Advisors LLC bought a new stake in shares of Continental Resources in the 4th quarter valued at about $212,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of 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 valued at $187,000 after acquiring an additional 1,261 shares during the last quarter. 22.58% of the stock is owned by institutional investors.
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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.
