Piper Jaffray Companies Reiterates Buy Rating for Continental Resources (CLR)
Continental Resources (NYSE:CLR)‘s stock had its “buy” rating reiterated by investment analysts at Piper Jaffray Companies in a research report issued on Tuesday. They presently have a $57.00 price target on the oil and natural gas company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 1.75% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the company. Scotiabank cut their price target on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, November 10th. Macquarie upgraded Continental Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $53.57 to $55.00 in a research note on Thursday, December 14th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, November 8th. Credit Suisse Group assumed coverage on shares of Continental Resources in a research report on Monday, December 11th. They set an “outperform” rating and a $57.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Continental Resources from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Seven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Continental Resources currently has an average rating of “Buy” and an average price target of $48.65.
Shares of Continental Resources (NYSE:CLR) traded up $0.40 during mid-day trading on Tuesday, hitting $56.02. The company had a trading volume of 814,073 shares, compared to its average volume of 1,730,000. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $21,020.00, a PE ratio of -800.29 and a beta of 1.44. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $56.40.
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 (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $726.74 million during the quarter, compared to analysts’ expectations of $710.77 million. Continental Resources had a return on equity of 1.00% and a net margin of 1.46%. The firm’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) earnings per share. equities research analysts predict that Continental Resources will post 0.34 earnings per share for the current fiscal year.
In other news, SVP Gary E. Gould sold 9,874 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $50.85, for a total transaction of $502,092.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total transaction of $958,000.00. The disclosure for this sale can be found here. Insiders have sold 52,874 shares of company stock valued at $2,603,673 over the last quarter. Company insiders own 76.87% of the company’s stock.
Several large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its holdings in shares of Continental Resources by 1.5% during the second quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock worth $264,000 after buying an additional 118 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Continental Resources by 1.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock worth $255,000 after purchasing an additional 146 shares during the last quarter. Utah Retirement Systems grew its stake in shares of Continental Resources by 1.3% in the second quarter. Utah Retirement Systems now owns 16,004 shares of the oil and natural gas company’s stock worth $517,000 after purchasing an additional 200 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Continental Resources by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after purchasing an additional 647 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Continental Resources by 9.5% in the second quarter. SG Americas Securities LLC now owns 8,057 shares of the oil and natural gas company’s stock worth $260,000 after purchasing an additional 696 shares during the last quarter. Institutional investors own 22.53% of the company’s stock.
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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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