Continental Resources (NYSE:CLR)‘s stock had its “buy” rating reissued by analysts at UBS Group in a research note issued to investors on Friday, www.analystratings.com reports.
A number of other analysts have also weighed in on the company. ValuEngine upgraded Continental Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies started coverage on Continental Resources in a research note on Friday, September 28th. They issued an “overweight” rating on the stock. Scotiabank reiterated a “buy” rating and issued a $78.00 target price on shares of Continental Resources in a research note on Thursday, September 27th. Morgan Stanley reduced their target price on Continental Resources from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. Finally, BMO Capital Markets lowered Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 9th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Continental Resources has a consensus rating of “Buy” and a consensus target price of $72.03.
NYSE:CLR traded up $0.69 during midday trading on Friday, hitting $50.73. 2,402,894 shares of the company traded hands, compared to its average volume of 2,168,884. Continental Resources has a 12-month low of $42.83 and a 12-month high of $71.95. The firm has a market capitalization of $19.00 billion, a PE ratio of 99.47, a PEG ratio of 1.29 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 (NYSE:CLR) last released its quarterly earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $0.09 EPS. Continental Resources’s quarterly revenue was up 76.4% compared to the same quarter last year. Equities analysts forecast that Continental Resources will post 3.25 EPS for the current year.
In other news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. 76.83% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CLR. Moneta Group Investment Advisors LLC boosted its position in Continental Resources by 4,924.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock valued at $163,000 after purchasing an additional 2,462 shares in the last quarter. Asset Management Advisors LLC bought a new stake in Continental Resources during the second quarter valued at about $201,000. Deprince Race & Zollo Inc. bought a new stake in Continental Resources during the third quarter valued at about $205,000. Jaffetilchin Investment Partners LLC bought a new stake in Continental Resources during the third quarter valued at about $212,000. Finally, Barings LLC bought a new stake in Continental Resources during the second quarter valued at about $216,000. 22.43% of the stock is currently 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.
Recommended Story: What is Cost of Capital?
Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.