Continental Resources (NYSE:CLR)‘s stock had its “buy” rating reissued by equities researchers at Barclays in a research note issued to investors on Friday, November 9th. They presently have a $71.00 price objective on the oil and natural gas company’s stock. Barclays’ target price indicates a potential upside of 47.92% from the company’s previous close.
A number of other analysts also recently weighed in on CLR. Seaport Global Securities reiterated a “neutral” rating on shares of Continental Resources in a research report on Wednesday, July 25th. UBS Group cut their price target on shares of Continental Resources from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, July 26th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Continental Resources in a research report on Friday, November 9th. Citigroup cut their price target on shares of Continental Resources from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 25th. Finally, Jefferies Financial Group set a $83.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have issued a buy rating to the stock. Continental Resources has an average rating of “Buy” and an average target price of $72.24.
Shares of NYSE:CLR opened at $48.00 on Friday. The company has a market capitalization of $17.47 billion, a P/E ratio of 17.08, a PEG ratio of 1.19 and a beta of 1.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. Continental Resources has a fifty-two week low of $44.56 and a fifty-two week high of $71.95.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. Continental Resources’s revenue for the quarter was up 76.4% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. On average, analysts forecast that Continental Resources will post 3.25 EPS for the current fiscal year.
In related news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 76.83% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Focused Wealth Management Inc bought a new position in shares of Continental Resources during the 3rd quarter worth approximately $171,000. Moneta Group Investment Advisors LLC grew its stake in shares of Continental Resources by 4,924.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock worth $163,000 after acquiring an additional 2,462 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Continental Resources during the 3rd quarter worth approximately $205,000. Asset Management Advisors LLC bought a new position in shares of Continental Resources during the 2nd quarter worth approximately $201,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Continental Resources during the 3rd quarter worth approximately $212,000. 22.49% of the stock is owned by institutional investors and hedge funds.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.
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