Continental Resources’ (CLR) Buy Rating Reiterated at Scotiabank
Continental Resources (NYSE:CLR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Scotiabank in a research note issued to investors on Thursday. They currently have a $78.00 price target on the oil and natural gas company’s stock. Scotiabank’s price target indicates a potential upside of 16.02% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Morgan Stanley lifted their target price on Continental Resources from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Barclays initiated coverage on Continental Resources in a report on Wednesday, August 29th. They issued an “overweight” rating and a $77.00 target price for the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 target price on shares of Continental Resources in a report on Thursday, August 30th. KLR Group reiterated a “buy” rating and issued a $78.00 target price on shares of Continental Resources in a report on Monday, August 20th. Finally, TD Securities lifted their target price on Continental Resources from $73.00 to $74.00 and gave the stock a “hold” rating in a report on Wednesday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $72.37.
NYSE CLR traded up $0.41 during trading on Thursday, hitting $67.23. 11,535 shares of the stock traded hands, compared to its average volume of 1,580,366. The stock has a market capitalization of $25.21 billion, a PE ratio of 131.82, a P/E/G ratio of 1.73 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.89. Continental Resources has a 12-month low of $36.05 and a 12-month high of $69.91.
A number of hedge funds and other institutional investors have recently modified their holdings of CLR. Credit Agricole S A raised its position in Continental Resources by 85.7% during the 1st quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock valued at $153,000 after purchasing an additional 1,200 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Continental Resources by 4,924.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock valued at $163,000 after purchasing an additional 2,462 shares in the last quarter. Asset Management Advisors LLC bought a new stake in Continental Resources during the 2nd quarter valued at $201,000. Barings LLC bought a new stake in Continental Resources during the 2nd quarter valued at $216,000. Finally, Eqis Capital Management Inc. bought a new stake in Continental Resources during the 2nd quarter valued at $238,000. 22.52% of the stock is owned by institutional investors and hedge funds.
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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