Continental Resources (NYSE:CLR) PT Lowered to $56.00

Continental Resources (NYSE:CLR) had its price target dropped by research analysts at Barclays from $58.00 to $56.00 in a report released on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price objective indicates a potential upside of 71.20% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Continental Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group downgraded shares of Continental Resources from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $34.00 in a research report on Friday, October 4th. TD Securities lowered their price objective on shares of Continental Resources from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Guggenheim restated a “buy” rating and set a $50.00 price objective (down previously from $60.00) on shares of Continental Resources in a research report on Wednesday, August 21st. Finally, BMO Capital Markets downgraded shares of Continental Resources from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $46.00 to $45.00 in a research report on Thursday, July 11th. Twelve equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $49.50.

Shares of NYSE CLR traded down $0.29 during midday trading on Thursday, hitting $32.71. The stock had a trading volume of 68,721 shares, compared to its average volume of 2,721,819. The business’s 50 day moving average is $29.85 and its 200-day moving average is $35.57. The company has a market cap of $12.02 billion, a P/E ratio of 11.47, a PEG ratio of 1.34 and a beta of 1.68. Continental Resources has a 52 week low of $27.26 and a 52 week high of $52.54. The company has a quick ratio of 0.81, a current ratio of 0.89 and a debt-to-equity ratio of 0.81.

Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Continental Resources had a net margin of 17.00% and a return on equity of 12.49%. The business’s revenue was down 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, analysts expect that Continental Resources will post 2.13 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. raised its position in Continental Resources by 31.8% in the third quarter. Eqis Capital Management Inc. now owns 43,040 shares of the oil and natural gas company’s stock worth $1,325,000 after acquiring an additional 10,374 shares during the period. BBVA USA Bancshares Inc. raised its position in Continental Resources by 2.3% in the third quarter. BBVA USA Bancshares Inc. now owns 22,695 shares of the oil and natural gas company’s stock worth $699,000 after acquiring an additional 518 shares during the period. Tower Research Capital LLC TRC raised its position in Continental Resources by 131.7% in the third quarter. Tower Research Capital LLC TRC now owns 9,507 shares of the oil and natural gas company’s stock worth $293,000 after acquiring an additional 5,403 shares during the period. SG Americas Securities LLC raised its position in Continental Resources by 16.7% in the third quarter. SG Americas Securities LLC now owns 23,882 shares of the oil and natural gas company’s stock worth $735,000 after acquiring an additional 3,424 shares during the period. Finally, First Trust Advisors LP raised its position in Continental Resources by 26.0% in the third quarter. First Trust Advisors LP now owns 245,200 shares of the oil and natural gas company’s stock worth $7,550,000 after acquiring an additional 50,528 shares during the period. Institutional investors and hedge funds own 19.44% of the company’s stock.

About Continental Resources

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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