Continental Resources (CLR) Stock Rating Reaffirmed by Susquehanna Bancshares

Susquehanna Bancshares reissued their neutral rating on shares of Continental Resources (NYSE:CLR) in a research report report published on Wednesday, MarketBeat reports. The firm currently has a $61.00 target price on the oil and natural gas company’s stock.

CLR has been the subject of several other research reports. Barclays restated an overweight rating and set a $58.00 target price (up previously from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Credit Suisse Group assumed coverage on Continental Resources in a research note on Monday, December 11th. They set an outperform rating and a $57.00 target price for the company. Zacks Investment Research downgraded Continental Resources from a buy rating to a hold rating in a research note on Monday, November 13th. Macquarie upgraded Continental Resources from a neutral rating to an outperform rating and increased their target price for the company from $53.57 to $55.00 in a research note on Thursday, December 14th. Finally, KeyCorp restated a hold rating on shares of Continental Resources in a research note on Monday, November 13th. Nine analysts have rated the stock with a hold rating, nineteen have given 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 price target of $50.54.

Shares of Continental Resources (NYSE CLR) traded down $0.48 during trading hours on Wednesday, reaching $55.17. The company had a trading volume of 1,810,535 shares, compared to its average volume of 1,586,516. Continental Resources has a 1 year low of $29.08 and a 1 year high of $58.89. The company has a market cap of $20,700.28, a P/E ratio of -788.03 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94.

Continental Resources (NYSE:CLR) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The firm had revenue of $726.74 million during the quarter, compared to the consensus estimate of $710.77 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. research analysts predict that Continental Resources will post 0.34 EPS for the current fiscal year.

In other news, CFO John D. Hart sold 6,000 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was 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. Over the last three months, insiders sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in shares of Continental Resources by 1.5% in the 2nd quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock worth $264,000 after buying an additional 118 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Continental Resources by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock worth $255,000 after buying an additional 146 shares in the last quarter. Ameriprise Financial Inc. raised its holdings 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 buying an additional 647 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Continental Resources by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock worth $433,000 after buying an additional 920 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Continental Resources by 4.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 24,086 shares of the oil and natural gas company’s stock worth $778,000 after buying an additional 962 shares in the last quarter. 22.55% of the stock is 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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