BMO Capital Markets Reiterates Buy Rating for Continental Resources, Inc. (CLR)
Continental Resources, Inc. (NYSE:CLR)‘s stock had its “buy” rating reaffirmed by investment analysts at BMO Capital Markets in a research report issued on Sunday.
Several other analysts have also recently commented on CLR. Cowen and Company set a $35.00 target price on Continental Resources and gave the company a “hold” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada restated a “buy” rating and issued a $46.00 target price on shares of Continental Resources in a research report on Thursday, July 20th. Citigroup Inc. lowered their target price on Continental Resources from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. BidaskClub cut Continental Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded Continental Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Continental Resources has a consensus rating of “Buy” and an average target price of $46.27.
Shares of Continental Resources (NYSE CLR) opened at $45.83 on Friday. Continental Resources has a 1 year low of $29.08 and a 1 year high of $60.30. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market capitalization of $17,518.50, a P/E ratio of 1,167.25 and a beta of 1.40.
Continental Resources (NYSE:CLR) last posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The firm had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. During the same period last year, the firm earned ($0.22) EPS. The firm’s revenue was up 38.1% compared to the same quarter last year. equities analysts anticipate that Continental Resources will post 0.23 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH boosted its position in shares of Continental Resources by 62.0% in the third quarter. Allianz Asset Management GmbH now owns 788,111 shares of the oil and natural gas company’s stock worth $30,429,000 after buying an additional 301,698 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Continental Resources by 3.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 45,400 shares of the oil and natural gas company’s stock worth $1,760,000 after buying an additional 1,700 shares during the period. National Planning Corp acquired a new stake in shares of Continental Resources in the third quarter worth $397,000. Mackenzie Financial Corp acquired a new stake in shares of Continental Resources in the third quarter worth $1,313,000. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Continental Resources in the third quarter worth $10,648,000. 23.27% of the stock is owned by institutional investors and hedge funds.
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.
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