Continental Resources, Inc. (CLR) Rating Increased to Hold at BidaskClub
Continental Resources, Inc. (NYSE:CLR) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.
Several other research analysts also recently weighed in on CLR. Barclays PLC reiterated a “buy” rating and issued a $53.00 target price (down from $58.00) on shares of Continental Resources in a research note on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and issued a $63.00 target price on shares of Continental Resources in a research note on Tuesday, April 25th. FBR & Co lowered their target price on Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating on the stock in a research note on Monday, May 1st. Credit Suisse Group upgraded Continental Resources from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $57.00 in a research note on Friday, May 5th. They noted that the move was a valuation call. Finally, KLR Group lifted their target price on Continental Resources from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.09.
Shares of Continental Resources (CLR) opened at 34.54 on Friday. The company has a 50-day moving average price of $32.34 and a 200-day moving average price of $40.27. Continental Resources has a 12 month low of $29.08 and a 12 month high of $60.30. The stock’s market cap is $12.91 billion.
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In other news, CEO Harold Hamm acquired 36,452 shares of Continental Resources stock in a transaction that occurred on Wednesday, May 24th. The stock was purchased at an average cost of $42.05 per share, with a total value of $1,532,806.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 76.97% of the company’s stock.
Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Continental Resources by 16.5% in the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock valued at $427,027,000 after buying an additional 1,875,103 shares in the last quarter. Vanguard Group Inc. boosted its position in Continental Resources by 26.4% in the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after buying an additional 1,703,303 shares during the period. BlackRock Inc. boosted its position in Continental Resources by 4,992.6% in the first quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after buying an additional 4,863,974 shares during the period. Bank of America Corp DE boosted its position in Continental Resources by 86.6% in the first quarter. Bank of America Corp DE now owns 3,497,989 shares of the oil and natural gas company’s stock worth $158,879,000 after buying an additional 1,623,470 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Continental Resources by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 3,074,799 shares of the oil and natural gas company’s stock worth $139,657,000 after buying an additional 38,889 shares during the period. 23.07% of the stock is owned by hedge funds and other 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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