Continental Resources (NYSE:CLR) Given New $56.00 Price Target at Barclays

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Continental Resources (NYSE:CLR) had its price objective cut by Barclays from $58.00 to $56.00 in a report issued on Thursday morning, Stock Target Advisor reports. They currently have an overweight rating on the oil and natural gas company’s stock.

A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets downgraded Continental Resources from an outperform rating to a market perform rating and cut their price target for the company from $46.00 to $45.00 in a research note on Thursday, July 11th. MKM Partners cut their price target on Continental Resources from $50.00 to $45.00 and set a buy rating for the company in a research note on Thursday, August 8th. Wells Fargo & Co cut their price target on Continental Resources from $55.00 to $53.00 and set an outperform rating for the company in a research note on Monday, August 12th. Guggenheim reaffirmed a buy rating and set a $50.00 price objective (down from $60.00) on shares of Continental Resources in a research report on Wednesday, August 21st. Finally, Piper Jaffray Companies set a $49.00 price objective on Continental Resources and gave the company a buy rating in a research report on Friday, August 16th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $49.50.

Shares of Continental Resources stock traded down $0.28 during trading hours on Thursday, reaching $32.72. 2,382,858 shares of the stock traded hands, compared to its average volume of 2,656,191. The company has a 50 day moving average price of $29.82 and a 200 day moving average price of $35.48. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.34 and a beta of 1.68. Continental Resources has a one year low of $27.26 and a one year high of $52.03. The company has a quick ratio of 0.81, a current ratio of 0.89 and a debt-to-equity ratio of 0.81.

Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.10. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Continental Resources had a return on equity of 12.49% and a net margin of 17.00%. The business’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. Sell-side analysts anticipate that Continental Resources will post 2.13 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. lifted its holdings in Continental Resources by 1.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28,417 shares of the oil and natural gas company’s stock worth $1,196,000 after purchasing an additional 282 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Continental Resources by 6.1% during the 2nd quarter. Raymond James Trust N.A. now owns 6,777 shares of the oil and natural gas company’s stock worth $285,000 after acquiring an additional 387 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Continental Resources by 31.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,622 shares of the oil and natural gas company’s stock worth $68,000 after acquiring an additional 387 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Continental Resources by 3.5% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,864 shares of the oil and natural gas company’s stock worth $541,000 after acquiring an additional 430 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Continental Resources by 10.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,626 shares of the oil and natural gas company’s stock worth $195,000 after acquiring an additional 450 shares in the last quarter. 19.44% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Continental Resources (NYSE:CLR)

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