Continental Resources (NYSE:CLR) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday, Marketbeat.com reports. The firm currently has a $54.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of $46.00. Robert W. Baird’s price target suggests a potential upside of 11.69% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Continental Resources from $8.00 to $11.00 in a research note on Monday, November 13th. Jefferies Group set a $42.00 target price on shares of Continental Resources and gave the company a “buy” rating in a research note on Tuesday, August 29th. Stifel Nicolaus set a $59.00 target price on shares of Continental Resources and gave the company a “buy” rating in a research note on Friday, August 25th. SunTrust Banks set a $50.00 target price on shares of Continental Resources and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $41.00 target price on shares of Continental Resources in a research note on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $47.19.
Continental Resources (NYSE CLR) traded up $0.01 during trading on Monday, hitting $48.35. 1,740,384 shares of the stock were exchanged, compared to its average volume of 2,480,000. Continental Resources has a one year low of $29.08 and a one year high of $53.57. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market cap of $18,140.00, a P/E ratio of 1,180.00 and a beta of 1.44.
In other Continental Resources news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 76.87% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CLR. Schwab Charles Investment Management Inc. raised its holdings in Continental Resources by 11.2% in the 2nd 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 period. First Trust Advisors LP raised its holdings in Continental Resources by 21.5% in 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 acquiring an additional 47,359 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Continental Resources by 12.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 8,269 shares of the oil and natural gas company’s stock worth $278,000 after purchasing an additional 902 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Continental Resources during the second quarter worth approximately $780,000. Finally, SG Americas Securities LLC increased its holdings in shares of Continental Resources by 9.5% during the second quarter. SG Americas Securities LLC now owns 8,057 shares of the oil and natural gas company’s stock worth $260,000 after purchasing an additional 696 shares during the period. 22.54% of the stock is currently owned by hedge funds and other 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.
