Continental Resources’ (CLR) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada restated their buy rating on shares of Continental Resources, Inc. (NYSE:CLR) in a report issued on Thursday morning. They currently have a $46.00 price objective on the oil and natural gas company’s stock.
A number of other research firms also recently commented on CLR. Cowen and Company set a $35.00 price objective on Continental Resources and gave the stock a hold rating in a report on Tuesday, July 18th. BMO Capital Markets dropped their target price on Continental Resources from $45.00 to $36.00 and set an outperform rating on the stock in a report on Friday, July 14th. Zacks Investment Research lowered Continental Resources from a hold rating to a sell rating in a research note on Tuesday, July 11th. Barclays PLC restated a buy rating and set a $34.00 price objective on shares of Continental Resources in a research note on Friday, July 7th. Finally, BidaskClub upgraded Continental Resources from a strong sell rating to a sell rating in a research note on Wednesday, July 5th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $50.54.
Continental Resources (NYSE:CLR) opened at 31.41 on Thursday. The stock’s market cap is $11.66 billion. The stock’s 50 day moving average price is $32.84 and its 200 day moving average price is $42.23. Continental Resources has a 12-month low of $29.08 and a 12-month high of $60.30.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Continental Resources had a negative return on equity of 3.93% and a negative net margin of 9.08%. The business had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million. Analysts forecast that Continental Resources will post $0.17 EPS for the current fiscal year.
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In related news, CEO Harold Hamm purchased 36,452 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were bought at an average price of $42.05 per share, with a total value of $1,532,806.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 76.97% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. increased its position in Continental Resources by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,430 shares of the oil and natural gas company’s stock worth $103,000 after buying an additional 119 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in Continental Resources by 5.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,031 shares of the oil and natural gas company’s stock worth $138,000 after buying an additional 150 shares during the period. Winch Advisory Services LLC bought a new position in Continental Resources during the first quarter worth $191,000. Heritage Trust Co bought a new position in Continental Resources during the first quarter worth $200,000. Finally, KBC Group NV increased its position in Continental Resources by 4.7% in the first quarter. KBC Group NV now owns 4,657 shares of the oil and natural gas company’s stock worth $211,000 after buying an additional 207 shares during the period. 23.10% of the stock is currently owned by institutional investors.
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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