Continental Resources, Inc. (NYSE:CLR) gapped down prior to trading on Wednesday after TD Securities lowered their price target on the stock from $57.00 to $56.00. The stock had previously closed at $46.52, but opened at $44.41. TD Securities currently has a buy rating on the stock. Continental Resources shares last traded at $45.14, with a volume of 69319 shares changing hands.

A number of other brokerages also recently commented on CLR. Kepler Capital Markets restated a “buy” rating on shares of Continental Resources in a research report on Tuesday, October 23rd. Wells Fargo & Co assumed coverage on shares of Continental Resources in a research report on Wednesday, October 24th. They issued an “outperform” rating and a $78.00 price objective for the company. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Wednesday, October 24th. Piper Jaffray Companies restated a “buy” rating and issued a $82.00 price objective on shares of Continental Resources in a research report on Wednesday, October 24th. Finally, Guggenheim restated a “buy” rating and issued a $74.00 price objective on shares of Continental Resources in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $68.00.

Several institutional investors and hedge funds have recently modified their holdings of CLR. Nordea Investment Management AB lifted its holdings in shares of Continental Resources by 213.3% during the 4th quarter. Nordea Investment Management AB now owns 5,173 shares of the oil and natural gas company’s stock valued at $208,000 after acquiring an additional 3,522 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Continental Resources by 153.9% during the 4th quarter. APG Asset Management N.V. now owns 58,400 shares of the oil and natural gas company’s stock valued at $2,053,000 after acquiring an additional 35,400 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Continental Resources by 8.0% during the 4th quarter. Legal & General Group Plc now owns 384,770 shares of the oil and natural gas company’s stock valued at $15,464,000 after acquiring an additional 28,431 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Continental Resources by 54.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 78,080 shares of the oil and natural gas company’s stock valued at $3,138,000 after acquiring an additional 27,396 shares in the last quarter. Finally, Cipher Capital LP lifted its holdings in shares of Continental Resources by 69.5% during the 4th quarter. Cipher Capital LP now owns 17,288 shares of the oil and natural gas company’s stock valued at $694,000 after acquiring an additional 7,090 shares in the last quarter. 20.68% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.50 and a beta of 1.50.

Continental Resources (NYSE:CLR) last posted its earnings results on Monday, February 18th. The oil and natural gas company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.07). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Continental Resources had a net margin of 20.99% and a return on equity of 18.92%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Research analysts forecast that Continental Resources, Inc. will post 2.04 earnings per share for the current year.

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About Continental Resources (NYSE:CLR)

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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