Continental Resources Inc. (NYSE:CLR) has been assigned a consensus recommendation of “Buy” from the thirty-one brokerages that are currently covering the stock. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $44.61.

A number of research analysts recently commented on the company. RBC Capital Markets restated an “outperform” rating and issued a $51.00 price target (up previously from $48.00) on shares of Continental Resources in a research report on Friday, August 5th. Zacks Investment Research cut Continental Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. SunTrust Banks Inc. upgraded Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, August 1st. Canaccord Genuity set a $51.00 target price on Continental Resources and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Royal Bank Of Canada lifted their target price on Continental Resources from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, August 5th.

Continental Resources (NYSE:CLR) opened at 52.52 on Tuesday. The firm’s market cap is $19.46 billion. The company’s 50-day moving average is $49.54 and its 200 day moving average is $43.16. Continental Resources has a 12 month low of $13.94 and a 12 month high of $55.07.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. Continental Resources had a negative return on equity of 7.57% and a negative net margin of 24.96%. The company earned $525.70 million during the quarter, compared to the consensus estimate of $518.42 million. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s revenue for the quarter was down 33.5% on a year-over-year basis. Equities research analysts expect that Continental Resources will post ($0.80) EPS for the current fiscal year.

In related news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $50.25, for a total transaction of $251,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jack H. Stark sold 12,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $49.24, for a total value of $590,880.00. The disclosure for this sale can be found here. Corporate insiders own 76.97% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Continental Resources by 97.7% in the second quarter. FMR LLC now owns 15,378,725 shares of the company’s stock valued at $696,195,000 after buying an additional 7,600,699 shares during the period. Vanguard Group Inc. increased its position in shares of Continental Resources by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,024,309 shares of the company’s stock worth $272,722,000 after buying an additional 135,141 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Continental Resources by 10.0% in the second quarter. TIAA CREF Investment Management LLC now owns 2,715,980 shares of the company’s stock worth $122,952,000 after buying an additional 246,720 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Continental Resources by 12.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,595,103 shares of the company’s stock worth $117,480,000 after buying an additional 284,067 shares during the period. Finally, Teachers Advisors Inc. increased its position in shares of Continental Resources by 9.5% in the second quarter. Teachers Advisors Inc. now owns 2,258,449 shares of the company’s stock worth $102,240,000 after buying an additional 196,842 shares during the period. Institutional investors and hedge funds own 23.37% of the company’s stock.

About Continental Resources

Continental Resources, Inc is an independent crude oil and natural gas exploration and production 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.

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