Piper Jaffray Companies reissued their buy rating on shares of Continental Resources (NYSE:CLR) in a research note issued to investors on Tuesday morning. Piper Jaffray Companies currently has a $57.00 target price on the oil and natural gas company’s stock.

Several other brokerages have also weighed in on CLR. Barclays lifted their price objective on Continental Resources from $37.00 to $42.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Morgan Stanley lifted their price objective on Continental Resources from $51.00 to $56.00 and gave the stock an overweight rating in a report on Wednesday, November 8th. Royal Bank of Canada reissued a buy rating and set a $52.00 price objective on shares of Continental Resources in a report on Wednesday, December 20th. Stifel Nicolaus set a $68.00 price objective on Continental Resources and gave the stock a buy rating in a report on Thursday, October 5th. Finally, Scotiabank decreased their price objective on Continental Resources from $12.50 to $11.50 and set an outperform rating on the stock in a report on Friday, November 10th. Seven research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Continental Resources presently has an average rating of Buy and an average target price of $49.15.

Continental Resources (NYSE:CLR) traded down $0.67 on Tuesday, reaching $57.66. The company’s stock had a trading volume of 2,131,000 shares, compared to its average volume of 1,830,000. The firm has a market cap of $21,640.00, a price-to-earnings ratio of -823.71 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. Continental Resources has a 12-month low of $29.08 and a 12-month high of $58.89.

Continental Resources (NYSE:CLR) last released its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. The firm had revenue of $726.74 million for the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a return on equity of 1.00% and a net margin of 1.46%. The company’s revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. equities research analysts expect that Continental Resources will post 0.34 EPS for the current year.

In related news, SVP Gary E. Gould sold 9,874 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total value of $502,092.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark E. Monroe sold 20,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,874 shares of company stock worth $2,603,673. 76.87% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in Continental Resources by 16.5% in the 2nd quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock valued at $427,027,000 after buying an additional 1,875,103 shares in the last quarter. Vanguard Group Inc. boosted its stake in Continental Resources by 26.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after buying an additional 1,703,303 shares in the last quarter. State Street Corp raised its position in Continental Resources by 14.4% in the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock valued at $103,474,000 after purchasing an additional 403,667 shares during the last quarter. Renaissance Technologies LLC raised its position in Continental Resources by 474.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after purchasing an additional 2,389,400 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its position in Continental Resources by 208.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock valued at $77,106,000 after purchasing an additional 1,611,003 shares during the last quarter. 22.53% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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