Continental Resources (NYSE:CLR)‘s stock had its “hold” rating reiterated by research analysts at JPMorgan Chase & Co. in a note issued to investors on Friday.
Several other research analysts have also recently issued reports on the company. Morgan Stanley reduced their price objective on Continental Resources from $84.00 to $76.00 and set a “buy” rating for the company in a research note on Monday. Guggenheim restated a “buy” rating and issued a $74.00 price objective on shares of Continental Resources in a research note on Thursday, November 1st. TD Securities upgraded Continental Resources from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $74.00 to $70.00 in a research note on Tuesday, October 30th. Barclays restated a “hold” rating on shares of Continental Resources in a research note on Monday, October 29th. Finally, Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, October 24th. Nine research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $72.03.
Shares of NYSE:CLR traded up $0.69 during trading on Friday, hitting $50.73. The stock had a trading volume of 2,402,894 shares, 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 stock has a market cap of $19.00 billion, a price-to-earnings ratio of 99.47, a PEG ratio of 1.29 and a beta of 1.46. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 1.00.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 76.4% compared to the same quarter last year. As a group, equities analysts anticipate 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 Continental Resources 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 76.83% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC raised 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 acquiring an additional 2,462 shares in the last quarter. Asset Management Advisors LLC acquired a new stake in Continental Resources in the second quarter valued at approximately $201,000. Deprince Race & Zollo Inc. acquired a new stake in Continental Resources in the third quarter valued at approximately $205,000. Jaffetilchin Investment Partners LLC acquired a new stake in Continental Resources in the third quarter valued at approximately $212,000. Finally, Barings LLC acquired a new stake in Continental Resources in the second quarter valued at approximately $216,000. Institutional investors own 22.43% of the company’s stock.
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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