Continental Resources Inc. (NYSE:CLR) has been given a $43.00 target price by analysts at Jefferies Group in a research note issued to investors on Tuesday. The firm presently has a a “sell” rating on the stock. Jefferies Group’s target price would suggest a potential downside of 16.60% from the stock’s previous close.
Several other equities research analysts have also recently commented on the stock. Barclays PLC raised shares of Continental Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $48.00 to $60.00 in a research report on Monday. Canaccord Genuity set a $60.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research report on Friday, October 7th. Scotiabank dropped their target price on shares of Continental Resources from $17.00 to $16.75 and set an “outperform” rating for the company in a research report on Wednesday, September 7th. BMO Capital Markets reaffirmed a “buy” rating and issued a $50.00 target price on shares of Continental Resources in a research report on Wednesday, September 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Continental Resources in a research report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and a consensus target price of $46.62.
Continental Resources (NYSE:CLR) traded up 3.49% during midday trading on Tuesday, hitting $53.36. 1,697,207 shares of the stock traded hands. The stock’s 50-day moving average price is $49.75 and its 200-day moving average price is $43.83. The stock’s market capitalization is $19.77 billion. Continental Resources has a 52 week low of $13.94 and a 52 week high of $55.07.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. The firm had revenue of $525.70 million for the quarter, compared to analysts’ expectations of $518.42 million. Continental Resources had a negative net margin of 24.96% and a negative return on equity of 7.57%. The company’s quarterly revenue was down 33.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. Equities research analysts expect that Continental Resources will post ($0.80) EPS for the current fiscal year.
In other news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $50.25, for a total transaction of $251,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jack H. Stark sold 12,000 shares of Continental Resources stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $49.24, for a total transaction of $590,880.00. The disclosure for this sale can be found here. Insiders own 76.97% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp acquired a new stake in shares of Continental Resources during the second quarter valued at $131,000. I.G. Investment Management LTD. acquired a new stake in shares of Continental Resources during the second quarter valued at $149,000. Shell Asset Management Co. boosted its stake in shares of Continental Resources by 19.3% in the second quarter. Shell Asset Management Co. now owns 3,737 shares of the company’s stock valued at $169,000 after buying an additional 604 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in shares of Continental Resources during the first quarter valued at $129,000. Finally, Westpac Banking Corp boosted its stake in shares of Continental Resources by 45.1% in the second quarter. Westpac Banking Corp now owns 4,276 shares of the company’s stock valued at $194,000 after buying an additional 1,329 shares in the last quarter. Hedge funds and other institutional investors own 23.36% 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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