Continental Resources (NYSE:CLR) had its price target decreased by Deutsche Bank from $70.00 to $65.00 in a research report report published on Thursday morning. Deutsche Bank currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities analysts also recently commented on the company. Barclays reiterated an overweight rating and issued a $58.00 price target (up from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Scotiabank decreased their price target on Continental Resources from $12.50 to $11.50 and set an outperform rating for the company in a research note on Friday, November 10th. Macquarie raised shares of Continental Resources from a neutral rating to an outperform rating and raised their target price for the stock from $53.57 to $55.00 in a report on Thursday, December 14th. Credit Suisse Group started coverage on shares of Continental Resources in a report on Monday, December 11th. They issued an outperform rating and a $57.00 target price on the stock. Finally, Zacks Investment Research raised shares of Continental Resources from a hold rating to a buy rating and set a $49.00 target price on the stock in a report on Wednesday, November 8th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $55.46.
Shares of Continental Resources (NYSE CLR) opened at $50.25 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94. The firm has a market capitalization of $18,854.60, a PE ratio of 96.64 and a beta of 1.36. Continental Resources has a 52 week low of $29.08 and a 52 week high of $58.89.
In related news, President Jack H. Stark sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $49.05, for a total transaction of $588,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark E. Monroe sold 20,000 shares of the business’s 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. In the last ninety days, insiders have sold 52,874 shares of company stock worth $2,603,673. Corporate insiders own 76.87% of the company’s stock.
Large investors have recently made changes to their positions in the stock. American International Group Inc. bought a new stake in Continental Resources during the fourth quarter worth approximately $102,000. Exane Derivatives bought a new stake in Continental Resources during the fourth quarter worth approximately $113,000. Bellwether Investment Group LLC bought a new stake in Continental Resources during the fourth quarter worth approximately $202,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in Continental Resources by 126.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in Continental Resources during the fourth quarter worth approximately $200,000. 22.37% of the stock is currently owned by hedge funds and other institutional investors.
About Continental Resources
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.
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