Continental Resources Inc. (CLR) Receives $45.65 Average PT from Analysts
Continental Resources Inc. (NYSE:CLR) has been given an average recommendation of “Buy” by the thirty-two ratings firms that are presently covering the company. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, twenty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $45.65.
A number of equities analysts have commented on CLR shares. SunTrust Banks Inc. raised Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, August 1st. Zacks Investment Research cut Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Royal Bank Of Canada increased their target price on Continental Resources from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Credit Suisse Group AG reissued a “hold” rating and set a $47.00 target price on shares of Continental Resources in a report on Friday, August 5th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of Continental Resources in a report on Friday, August 5th.
In other Continental Resources news, CFO John D. Hart sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $46.84, for a total transaction of $187,360.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $50.25, for a total value of $251,250.00. The disclosure for this sale can be found here. Company insiders own 76.97% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. FineMark National Bank & Trust raised its position in Continental Resources by 54.6% in the third quarter. FineMark National Bank & Trust now owns 2,319 shares of the company’s stock worth $121,000 after buying an additional 819 shares in the last quarter. Synovus Financial Corp bought a new position in Continental Resources during the second quarter worth about $131,000. Bronfman E.L. Rothschild L.P. raised its position in Continental Resources by 2,295.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,899 shares of the company’s stock worth $151,000 after buying an additional 2,778 shares in the last quarter. I.G. Investment Management LTD. bought a new position in Continental Resources during the second quarter worth about $149,000. Finally, Shell Asset Management Co. raised its position in Continental Resources by 19.3% in the second quarter. Shell Asset Management Co. now owns 3,737 shares of the company’s stock worth $169,000 after buying an additional 604 shares in the last quarter. 23.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Continental Resources (NYSE:CLR) opened at 51.07 on Tuesday. Continental Resources has a 52 week low of $13.94 and a 52 week high of $55.07. The company’s market capitalization is $18.92 billion. The company’s 50 day moving average price is $50.12 and its 200-day moving average price is $45.63.
Continental Resources (NYSE:CLR) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.07. Continental Resources had a negative net margin of 28.27% and a negative return on equity of 8.69%. The firm had revenue of $526.20 million for the quarter, compared to analyst estimates of $148.37 million. During the same period in the previous year, the company earned ($0.12) EPS. Continental Resources’s revenue was down 22.9% compared to the same quarter last year. Analysts anticipate that Continental Resources will post ($0.89) earnings per share for the current fiscal year.
Continental Resources Company Profile
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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