Continental Resources (NYSE:CLR) has been given a $58.00 price objective by equities research analysts at Cowen in a research note issued to investors on Thursday. The firm presently has a “hold” rating on the oil and natural gas company’s stock. Cowen’s target price would suggest a potential upside of 5.13% from the company’s current price.
CLR has been the subject of a number of other reports. TheStreet raised Continental Resources from a “d+” rating to a “c” rating in a report on Friday, November 17th. Royal Bank of Canada increased their target price on Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Barclays raised their price target on Continental Resources from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, November 8th. Finally, Morgan Stanley raised their price target on Continental Resources from $43.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Continental Resources has an average rating of “Buy” and an average target price of $50.54.
Shares of Continental Resources (NYSE CLR) traded down $0.48 on Thursday, hitting $55.17. The stock had a trading volume of 1,811,335 shares, compared to its average volume of 1,860,000. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $58.89. 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 $20,700.00, a PE ratio of -788.14 and a beta of 1.44.
In other news, Director Mark E. Monroe sold 20,000 shares of Continental Resources 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $49.52, for a total value of $247,600.00. The disclosure for this sale can be found here. Insiders sold a total of 52,874 shares of company stock valued at $2,603,673 over the last three months. Insiders own 76.87% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in shares of 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 worth $7,196,000 after purchasing an additional 22,383 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Continental Resources by 107.3% in the 2nd quarter. Wells Fargo & Company MN now owns 404,601 shares of the oil and natural gas company’s stock worth $13,080,000 after purchasing an additional 209,409 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Continental Resources by 366.5% in the 2nd quarter. Alliancebernstein L.P. now owns 272,454 shares of the oil and natural gas company’s stock worth $8,808,000 after purchasing an additional 214,055 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Continental Resources by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after purchasing an additional 647 shares during the last quarter. Finally, Amalgamated Bank bought a new position in shares of Continental Resources in the 2nd quarter worth $254,000. 22.55% of the stock is owned by institutional investors.
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.
