Continental Resources, Inc. (NYSE:CLR) – Research analysts at B. Riley issued their FY2017 EPS estimates for shares of Continental Resources in a report issued on Monday. B. Riley analyst R. Rashid forecasts that the oil and natural gas company will post earnings of $0.39 per share for the year. B. Riley has a “Buy” rating and a $78.00 price target on the stock. B. Riley also issued estimates for Continental Resources’ Q4 2017 earnings at $0.29 EPS, Q1 2018 earnings at $0.62 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $0.58 EPS, FY2018 earnings at $2.22 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.66 EPS and FY2019 earnings at $2.34 EPS.
Other research analysts have also issued reports about the company. BMO Capital Markets raised their price target on Continental Resources from $8.00 to $11.00 in a research report on Monday, November 13th. SunTrust Banks restated a “buy” rating and issued a $55.00 price target on shares of Continental Resources in a research report on Friday, November 10th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, November 8th. Bank of America raised their price target on Continental Resources from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, Jefferies Group restated a “buy” rating and issued a $47.00 price target on shares of Continental Resources in a research report on Thursday, October 12th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $53.56.
In other Continental Resources news, CFO John D. Hart sold 6,000 shares of Continental Resources stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark E. Monroe sold 20,000 shares of Continental Resources 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. Over the last quarter, insiders have sold 52,874 shares of company stock worth $2,603,673. Corporate insiders own 76.87% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Continental Resources by 26.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after purchasing an additional 1,703,303 shares during the period. State Street Corp raised its stake in shares of Continental Resources by 14.4% in the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock valued at $103,474,000 after purchasing an additional 403,667 shares during the period. Jennison Associates LLC raised its stake in shares of Continental Resources by 1.5% in the 4th quarter. Jennison Associates LLC now owns 1,631,882 shares of the oil and natural gas company’s stock valued at $86,441,000 after purchasing an additional 24,848 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Continental Resources by 101.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock valued at $57,798,000 after purchasing an additional 748,025 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Continental Resources in the 3rd quarter valued at about $52,973,000. 22.54% of the stock is currently owned by hedge funds and other 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.
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