Continental Resources (NYSE:CLR) has been assigned a $57.00 price objective by equities research analysts at Jefferies Group in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s target price would indicate a potential upside of 14.90% from the company’s current price.
Several other equities research analysts also recently issued reports on the company. Scotiabank dropped their target price on Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Stifel Nicolaus set a $59.00 target price on Continental Resources and gave the stock a “buy” rating in a research report on Friday, August 25th. Piper Jaffray Companies restated a “buy” rating and set a $41.00 target price on shares of Continental Resources in a research report on Friday, October 6th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, November 8th. Finally, Barclays increased their target price on Continental Resources from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $47.60.
Continental Resources (CLR) traded up $1.26 during trading hours on Wednesday, hitting $49.61. The company’s stock had a trading volume of 2,323,100 shares, compared to its average volume of 2,784,334. The stock has a market capitalization of $18,141.35, a P/E ratio of 1,208.75 and a beta of 1.44. Continental Resources has a 12-month low of $29.08 and a 12-month high of $53.57. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.
In related news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction on Wednesday, December 13th. The stock was 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 accessible through this link. 76.87% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Wesbanco Bank Inc. grew its stake in shares of Continental Resources by 14.1% during the second quarter. Wesbanco Bank Inc. now owns 132,764 shares of the oil and natural gas company’s stock valued at $4,293,000 after buying an additional 16,375 shares during the last quarter. Miller Howard Investments Inc. NY grew its stake in shares of Continental Resources by 22.5% during the third quarter. Miller Howard Investments Inc. NY now owns 22,097 shares of the oil and natural gas company’s stock valued at $853,000 after buying an additional 4,060 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake 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 valued at $278,000 after buying an additional 902 shares during the last quarter. Ninepoint Partners LP bought a new position in shares of Continental Resources during the third quarter valued at about $7,896,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Continental Resources by 362.8% during the second quarter. BNP Paribas Arbitrage SA now owns 171,270 shares of the oil and natural gas company’s stock valued at $5,537,000 after buying an additional 134,260 shares during the last quarter. 22.54% of the stock is currently owned by hedge funds and other institutional investors.
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About Continental Resources
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.
