Continental Resources (CLR) Stock Rating Reaffirmed by DZ Bank

Continental Resources (NYSE:CLR)‘s stock had its “hold” rating reissued by equities research analysts at DZ Bank in a research 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 company a “buy” rating in a research report on Thursday, September 20th. BMO Capital Markets downgraded 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 restated 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 restated 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 company a “buy” rating in a research report on Friday, July 13th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $72.45.

Shares of NYSE CLR opened at $50.73 on Friday. The company has a market capitalization of $19.65 billion, a PE ratio of 99.47, a PEG ratio of 1.34 and a beta of 1.46. Continental Resources has a 52-week low of $42.83 and a 52-week high of $71.95. 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 issued its earnings results 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. The firm 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%. The business’s revenue was up 76.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, research analysts anticipate that Continental Resources will post 3.25 earnings per share for the current year.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were 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 corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Continental Resources by 0.3% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,019 shares of the oil and natural gas company’s stock valued at $637,000 after buying an additional 36 shares during the last quarter. M&T Bank Corp increased its stake in shares of Continental Resources by 1.4% in the first quarter. M&T Bank Corp now owns 6,125 shares of the oil and natural gas company’s stock worth $278,000 after purchasing an additional 85 shares in the last quarter. IBM Retirement Fund increased its stake in shares of Continental Resources by 1.0% in the second quarter. IBM Retirement Fund now owns 8,753 shares of the oil and natural gas company’s stock worth $396,000 after purchasing an additional 87 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Continental Resources by 0.7% in the first quarter. Hanseatic Management Services Inc. now owns 12,047 shares of the oil and natural gas company’s stock worth $547,000 after purchasing an additional 87 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of Continental Resources by 0.7% in the first quarter. Comerica Bank now owns 15,941 shares of the oil and natural gas company’s stock worth $677,000 after purchasing an additional 110 shares in the last quarter. 22.43% 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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Analyst Recommendations for Continental Resources (NYSE:CLR)

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