Continental Resources (CLR) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Continental Resources (NYSE:CLR) from a sell rating to a hold rating in a research report report published on Thursday.

CLR has been the topic of several other reports. Barclays reissued an overweight rating and set a $58.00 target price (up from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Credit Suisse Group began coverage on shares of Continental Resources in a research note on Monday, December 11th. They issued an outperform rating and a $57.00 price objective on the stock. Macquarie raised shares of Continental Resources from a neutral rating to an outperform rating and raised their price objective for the company from $53.57 to $55.00 in a research note on Thursday, December 14th. B. Riley set a $70.00 price objective on shares of Continental Resources and gave the company a buy rating in a research note on Friday, February 16th. Finally, KLR Group lowered shares of Continental Resources from a buy rating to a hold rating and set a $61.00 price objective on the stock. in a research note on Tuesday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Continental Resources presently has a consensus rating of Buy and an average target price of $56.98.

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Continental Resources stock opened at $58.00 on Thursday. The stock has a market cap of $21,762.53, a price-to-earnings ratio of 111.54 and a beta of 1.45. Continental Resources has a 12 month low of $29.08 and a 12 month high of $59.47. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94.

Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $978.63 million. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. Continental Resources’s revenue was up 90.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. analysts predict that Continental Resources will post 2.38 EPS for the current year.

In other news, CFO John D. Hart sold 15,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $53.13, for a total value of $796,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Harold Hamm bought 99,028 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $50.26 per share, with a total value of $4,977,147.28. The disclosure for this purchase can be found here. In the last quarter, insiders bought 156,909 shares of company stock valued at $7,846,156. 76.87% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. purchased a new stake in Continental Resources during the fourth quarter worth about $102,000. Exane Derivatives purchased a new stake in Continental Resources during the fourth quarter worth about $113,000. Bellwether Investment Group LLC purchased a new stake in Continental Resources during the fourth quarter worth about $202,000. OLD Mutual Customised Solutions Proprietary Ltd. increased 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 buying an additional 1,900 shares during the last quarter. Finally, Calton & Associates Inc. purchased a new stake in Continental Resources during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 22.42% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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