Continental Resources, Inc. (CLR) Receives Average Rating of “Buy” from Brokerages

Continental Resources, Inc. (NYSE:CLR) has received an average rating of “Buy” from the thirty-one ratings firms that are covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.15.

CLR has been the topic of a number of research reports. Barclays restated an “overweight” rating and issued a $58.00 target price (up from $53.00) on shares of Continental Resources in a report on Thursday, January 11th. Scotiabank reduced their target price on shares of Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, November 10th. Macquarie upgraded shares of 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 report on Thursday, December 14th. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, November 8th. Finally, Credit Suisse Group initiated coverage on shares of Continental Resources in a report on Monday, December 11th. They issued an “outperform” rating and a $57.00 target price on the stock.

Continental Resources (NYSE:CLR) traded down $0.17 during trading on Tuesday, hitting $51.21. 1,760,232 shares of the stock were exchanged, compared to its average volume of 2,270,000. Continental Resources has a 12-month low of $29.08 and a 12-month 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. The company has a market cap of $19,210.00, a P/E ratio of -731.57 and a beta of 1.36.

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 transaction of $958,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Jack H. Stark sold 12,000 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $49.05, for a total transaction of $588,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,874 shares of company stock worth $2,603,673 over the last quarter. 76.87% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CLR. Alyeska Investment Group L.P. purchased a new stake in Continental Resources in the 3rd quarter valued at about $52,973,000. JPMorgan Chase & Co. boosted its position in 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 buying an additional 748,025 shares during the period. State Street Corp boosted its position in 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 buying an additional 403,667 shares during the period. Bank of New York Mellon Corp boosted its position in Continental Resources by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 986,457 shares of the oil and natural gas company’s stock valued at $52,253,000 after buying an additional 351,930 shares during the period. Finally, Jennison Associates LLC boosted its position in Continental Resources by 25.8% in the 3rd quarter. Jennison Associates LLC now owns 1,607,034 shares of the oil and natural gas company’s stock valued at $62,048,000 after buying an additional 329,544 shares during the period. 22.57% 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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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