Continental Resources (CLR) Earns Hold Rating from DZ Bank

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DZ Bank restated their hold rating on shares of Continental Resources (NYSE:CLR) in a research note issued to investors on Friday.

Several other research firms have also issued reports on CLR. UBS Group reissued a buy rating on shares of Continental Resources in a research note on Friday. Guggenheim reissued a buy rating and set a $74.00 target price on shares of Continental Resources in a research note on Thursday, November 1st. Morgan Stanley decreased their target price on Continental Resources from $97.00 to $89.00 and set an overweight rating on the stock in a research note on Thursday, July 12th. ValuEngine raised Continental Resources from a hold rating to a buy rating in a research note on Tuesday, October 2nd. Finally, Barclays reissued a hold rating on shares of Continental Resources in a research note on Monday, October 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $72.45.

CLR traded up $0.69 during mid-day trading on Friday, hitting $50.73. 2,402,894 shares of the stock were exchanged, compared to its average volume of 2,497,204. Continental Resources has a 1-year low of $42.83 and a 1-year high of $71.95. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 1.00. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 99.47, a PEG ratio of 1.34 and a beta of 1.46.

Continental Resources (NYSE:CLR) last posted its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $0.09 EPS. Continental Resources’s revenue was up 76.4% on a year-over-year basis. On average, research analysts forecast that Continental Resources will post 3.25 earnings per share for the current year.

In other news, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 76.83% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board raised its position in shares of Continental Resources by 13.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 521,820 shares of the oil and natural gas company’s stock worth $35,630,000 after acquiring an additional 62,500 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Continental Resources by 30.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 14,496 shares of the oil and natural gas company’s stock worth $988,000 after acquiring an additional 3,368 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Continental Resources by 63.9% during the 3rd quarter. Rafferty Asset Management LLC now owns 7,927 shares of the oil and natural gas company’s stock worth $541,000 after acquiring an additional 3,090 shares in the last quarter. Ffcm LLC raised its position in shares of Continental Resources by 22.4% during the 3rd quarter. Ffcm LLC now owns 28,338 shares of the oil and natural gas company’s stock worth $1,937,000 after acquiring an additional 5,180 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Continental Resources by 5.5% during the 3rd quarter. BlackRock Inc. now owns 5,095,210 shares of the oil and natural gas company’s stock worth $347,901,000 after acquiring an additional 266,183 shares in the last quarter. 22.43% of the stock is currently owned by institutional investors and hedge funds.

About Continental Resources

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

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Analyst Recommendations for Continental Resources (NYSE:CLR)

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