Continental Resources (CLR) Given “Hold” Rating at Cfra

Continental Resources (NYSE:CLR)‘s stock had its “hold” rating restated by equities research analysts at Cfra in a note issued to investors on Friday.

CLR has been the topic of a number of other research reports. Royal Bank of Canada set a $81.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research report on Thursday, September 20th. BMO Capital Markets cut shares of Continental Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 9th. They noted that the move was a valuation call. KLR Group reissued a “buy” rating and set a $78.00 price objective on shares of Continental Resources in a research report on Monday, August 20th. Seaport Global Securities reissued a “neutral” rating on shares of Continental Resources in a research report on Wednesday, July 25th. Finally, Jefferies Financial Group set a $83.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research report on Friday, July 13th. Eleven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $72.45.

CLR stock opened at $50.73 on Friday. The stock has a market cap of $19.65 billion, a PE ratio of 99.47, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 1.00. Continental Resources has a 1 year low of $42.83 and a 1 year high of $71.95.

Continental Resources (NYSE:CLR) last released 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 Zacks’ consensus estimate of $0.82 by $0.08. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The business’s revenue was up 76.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. As a group, sell-side analysts expect 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 firm’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 76.83% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Gateway Investment Advisers LLC lifted its position in shares of Continental Resources by 8.0% during the 4th quarter. Gateway Investment Advisers LLC now owns 477,391 shares of the oil and natural gas company’s stock worth $10,970,000 after buying an additional 35,530 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Continental Resources by 7.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 142,660 shares of the oil and natural gas company’s stock worth $3,279,000 after buying an additional 9,730 shares in the last quarter. British Airways Pensions Investment Management Ltd lifted its position in shares of Continental Resources by 59.1% during the 4th quarter. British Airways Pensions Investment Management Ltd now owns 715,210 shares of the oil and natural gas company’s stock worth $16,444,000 after buying an additional 265,740 shares in the last quarter. Caymus Capital Partners L.P. lifted its position in shares of Continental Resources by 43.4% during the 4th quarter. Caymus Capital Partners L.P. now owns 2,322,000 shares of the oil and natural gas company’s stock worth $53,360,000 after buying an additional 703,100 shares in the last quarter. Finally, Bridgeway Capital Management Inc. bought a new position in shares of Continental Resources during the 2nd quarter worth approximately $28,606,000. 22.43% of the stock is currently owned by hedge funds and other institutional investors.

About Continental Resources

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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