Shares of Continental Resources, Inc. (NYSE:CLR) have been given a consensus rating of “Buy” by the thirty-five analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.59.
A number of equities research analysts have issued reports on CLR shares. BMO Capital Markets lowered shares of Continental Resources from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $46.00 to $45.00 in a report on Thursday, July 11th. Morgan Stanley cut their price objective on shares of Continental Resources from $53.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, July 12th. UBS Group set a $45.00 price objective on shares of Continental Resources and gave the company a “hold” rating in a report on Thursday, June 20th. Wells Fargo & Co cut their price objective on shares of Continental Resources from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Continental Resources in a report on Friday, June 21st.
In related news, CEO Harold Hamm bought 38,600 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were bought at an average price of $38.76 per share, for a total transaction of $1,496,136.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John T. Mcnabb II bought 1,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Company insiders own 77.03% of the company’s stock.
CLR traded down $1.32 during trading on Friday, reaching $28.76. 2,448,587 shares of the company traded hands, compared to its average volume of 2,733,024. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 1.03. Continental Resources has a 12-month low of $28.49 and a 12-month high of $71.95. The firm has a fifty day simple moving average of $34.93 and a 200 day simple moving average of $41.08. The company has a market cap of $11.26 billion, a P/E ratio of 10.13, a PEG ratio of 1.00 and a beta of 1.65.
Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Continental Resources had a net margin of 19.64% and a return on equity of 15.09%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $0.73 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Continental Resources will post 2.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%.
Continental Resources declared that its Board of Directors has approved a stock repurchase plan on Monday, June 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the oil and natural gas company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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