Analysts at Deutsche Bank started coverage on shares of Continental Resources (NYSE:CLR) in a report released on Thursday, The Fly reports. The brokerage set a “buy” rating on the oil and natural gas company’s stock.
A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus set a $71.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research report on Monday. Jefferies Group set a $68.00 target price on shares of Continental Resources and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley upped their target price on shares of Continental Resources from $56.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $65.00 target price on shares of Continental Resources and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, KLR Group cut shares of Continental Resources from a “buy” rating to a “hold” rating and set a $61.00 target price for the company. in a report on Tuesday, January 23rd. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $52.10.
Shares of Continental Resources (CLR) traded up $1.08 during trading on Thursday, reaching $56.61. 2,730,000 shares of the company were exchanged, compared to its average volume of 1,960,000. The company has a market capitalization of $21,240.00, a P/E ratio of -808.71 and a beta of 1.44. Continental Resources has a 12 month low of $29.08 and a 12 month high of $58.89. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.
In other news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction on 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total transaction of $247,600.00. The disclosure for this sale can be found here. Over the last three months, 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 and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of Continental Resources in the fourth quarter worth $1,585,000. Quantitative Systematic Strategies LLC increased its stake in shares of Continental Resources by 86.4% in the fourth quarter. Quantitative Systematic Strategies LLC now owns 12,504 shares of the oil and natural gas company’s stock worth $662,000 after purchasing an additional 5,797 shares in the last quarter. Miles Capital Inc. purchased a new stake in shares of Continental Resources in the fourth quarter worth $204,000. Bellwether Investment Group LLC purchased a new stake in shares of Continental Resources in the fourth quarter worth $202,000. Finally, Capital Advisors Inc. OK increased its stake in shares of Continental Resources by 11.0% in the fourth quarter. Capital Advisors Inc. OK now owns 264,959 shares of the oil and natural gas company’s stock worth $14,035,000 after purchasing an additional 26,268 shares in the last quarter. 22.58% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by American Market News and is the property of of American Market News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/02/01/deutsche-bank-initiates-coverage-on-continental-resources-clr.html.
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.
