Continental Resources (CLR) Upgraded to “Neutral” at Seaport Global Securities

Continental Resources (NYSE:CLR) was upgraded by equities research analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.

Several other brokerages have also recently weighed in on CLR. ValuEngine raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Robert W. Baird raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Monday. Credit Suisse Group began coverage on shares of Continental Resources in a research report on Monday, December 11th. They issued an “outperform” rating and a $57.00 price target for the company. Macquarie raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $53.57 to $55.00 in a research report on Thursday, December 14th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 price target on shares of Continental Resources in a research report on Friday, November 10th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.19.

Shares of Continental Resources (CLR) opened at $48.34 on Tuesday. Continental Resources has a 52-week low of $29.08 and a 52-week high of $53.57. The firm has a market cap of $17,709.86, a P/E ratio of 1,180.00 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The firm had revenue of $726.74 million during the quarter, compared to analysts’ expectations of $710.77 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The company’s revenue was up 38.1% compared to the same quarter last year. research analysts expect that Continental Resources will post 0.3 earnings per share for the current fiscal year.

In related news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total transaction of $958,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 76.87% of the company’s stock.

A number of large investors have recently bought and sold shares of CLR. Schwab Charles Investment Management Inc. lifted its position in Continental Resources by 11.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 222,557 shares of the oil and natural gas company’s stock valued at $7,196,000 after acquiring an additional 22,383 shares during the last quarter. First Trust Advisors LP increased its stake in Continental Resources by 21.5% during the 2nd quarter. First Trust Advisors LP now owns 267,225 shares of the oil and natural gas company’s stock valued at $8,639,000 after purchasing an additional 47,359 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Continental Resources by 12.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,269 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 902 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in Continental Resources during the 2nd quarter valued at approximately $780,000. Finally, SG Americas Securities LLC increased its stake in Continental Resources by 9.5% during the 2nd quarter. SG Americas Securities LLC now owns 8,057 shares of the oil and natural gas company’s stock valued at $260,000 after purchasing an additional 696 shares in the last quarter. 22.54% of the stock is owned by institutional investors.

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Continental Resources Company Profile

Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.