Continental Resources, Inc. (CLR) Rating Lowered to Hold at Zacks Investment Research
Continental Resources, Inc. (NYSE:CLR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations. “
Other analysts have also issued reports about the stock. BMO Capital Markets upped their price target on shares of Continental Resources from $8.00 to $11.00 in a research note on Monday. Citigroup Inc. reduced their price target on shares of Continental Resources from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $46.00 price target on shares of Continental Resources in a research note on Thursday, July 20th. Jefferies Group LLC set a $42.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, Stifel Nicolaus set a $59.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and a consensus price target of $46.35.
Shares of Continental Resources (NYSE CLR) opened at $44.57 on Monday. The firm has a market cap of $17,195.82, a P/E ratio of 1,145.75 and a beta of 1.40. Continental Resources has a one year low of $29.08 and a one year high of $60.30. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $726.74 million during the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The business’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) EPS. research analysts anticipate that Continental Resources will post 0.24 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its stake in Continental Resources by 244.1% in the 3rd quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 2,810 shares during the period. Financial Architects Inc grew its position in Continental Resources by 870.0% in the second quarter. Financial Architects Inc now owns 4,850 shares of the oil and natural gas company’s stock worth $157,000 after acquiring an additional 4,350 shares in the last quarter. Sii Investments Inc. WI bought a new stake in Continental Resources in the third quarter worth approximately $200,000. Sei Investments Co. grew its position in Continental Resources by 131.7% in the third quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock worth $205,000 after acquiring an additional 3,009 shares in the last quarter. Finally, Bridgecreek Investment Management LLC bought a new stake in Continental Resources in the third quarter worth approximately $214,000. Hedge funds and other institutional investors own 23.27% of the company’s stock.
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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