Continental Resources (CLR) Research Coverage Started at MKM Partners

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MKM Partners assumed coverage on shares of Continental Resources (NYSE:CLR) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $60.00 price objective on the oil and natural gas company’s stock.

Several other analysts have also weighed in on CLR. Zacks Investment Research lowered Continental Resources from a buy rating to a hold rating in a report on Tuesday, November 20th. Cowen began coverage on Continental Resources in a report on Thursday, November 29th. They issued a market perform rating for the company. Cfra reissued a hold rating on shares of Continental Resources in a report on Friday, November 9th. Stifel Nicolaus reissued a buy rating and issued a $70.00 price objective on shares of Continental Resources in a report on Monday, November 26th. Finally, Barclays lowered their price objective on Continental Resources from $74.00 to $71.00 and set an overweight rating for the company in a report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $71.17.

Shares of NYSE CLR opened at $47.23 on Wednesday. Continental Resources has a 1 year low of $43.53 and a 1 year high of $71.95. The stock has a market cap of $17.34 billion, a PE ratio of 92.61, a price-to-earnings-growth ratio of 0.67 and a beta of 1.47. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.21 billion. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. Continental Resources’s quarterly revenue was up 76.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. Equities research analysts anticipate that Continental Resources will post 3.14 earnings per share for the current year.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 76.83% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CLR. Eqis Capital Management Inc. acquired a new position in shares of Continental Resources during the second quarter worth approximately $238,000. Daiwa Securities Group Inc. boosted its position in shares of Continental Resources by 49.0% during the second quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the oil and natural gas company’s stock worth $246,000 after buying an additional 1,250 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Continental Resources by 11.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 378,623 shares of the oil and natural gas company’s stock worth $24,520,000 after buying an additional 40,351 shares during the period. First Trust Advisors LP boosted its position in shares of Continental Resources by 128.6% during the second quarter. First Trust Advisors LP now owns 549,231 shares of the oil and natural gas company’s stock worth $35,568,000 after buying an additional 309,005 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of Continental Resources by 68.3% during the second quarter. D.A. Davidson & CO. now owns 6,404 shares of the oil and natural gas company’s stock worth $415,000 after buying an additional 2,600 shares during the period. Institutional investors and hedge funds own 21.61% of the company’s stock.

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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