Credit Suisse Group Initiates Coverage on Continental Resources (CLR)
Credit Suisse Group started coverage on shares of Continental Resources (NYSE:CLR) in a report issued on Monday, MarketBeat.com reports. The firm issued an outperform rating and a $57.00 target price on the oil and natural gas company’s stock.
A number of other analysts have also issued reports on the stock. Scotiabank dropped their price objective on shares of Continental Resources from $12.50 to $11.50 and set an outperform rating on the stock in a research note on Friday, November 10th. Stifel Nicolaus set a $59.00 price target on shares of Continental Resources and gave the stock a buy rating in a research report on Friday, August 25th. Piper Jaffray Companies reissued a buy rating and set a $41.00 price target on shares of Continental Resources in a research report on Friday, October 6th. Zacks Investment Research raised shares of Continental Resources from a hold rating to a buy rating and set a $49.00 price target for the company in a research report on Wednesday, November 8th. Finally, Barclays raised their price target on shares of Continental Resources from $37.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. Continental Resources presently has a consensus rating of Buy and an average target price of $46.60.
Continental Resources (NYSE:CLR) opened at $47.36 on Monday. Continental Resources has a 1-year low of $29.08 and a 1-year high of $53.57. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market cap of $18,028.79, a P/E ratio of 1,201.25 and a beta of 1.44.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $726.74 million for 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 quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) earnings per share. equities analysts expect that Continental Resources will post 0.29 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. 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 worth $153,000 after purchasing an additional 2,810 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Continental Resources by 35.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after acquiring an additional 1,261 shares in the last quarter. Sii Investments Inc. WI purchased a new position in Continental Resources during the 3rd quarter valued at about $200,000. Sei Investments Co. grew its stake in Continental Resources by 131.7% during the 3rd quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock valued at $205,000 after acquiring an additional 3,009 shares in the last quarter. Finally, Bridgecreek Investment Management LLC purchased a new position in Continental Resources during the 3rd quarter valued at about $214,000. 22.59% of the stock is currently owned by hedge funds and other institutional investors.
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About Continental Resources
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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