Royal Bank Of Canada Increases Continental Resources, Inc. (CLR) Price Target to $51.00
Continental Resources, Inc. (NYSE:CLR) had its price target hoisted by analysts at Royal Bank Of Canada from $48.00 to $51.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the oil and natural gas company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 11.01% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Morgan Stanley boosted their price objective on Continental Resources from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America Corporation boosted their price objective on Continental Resources from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday. Imperial Capital raised Continental Resources to an “outperform” rating in a research report on Thursday. Finally, Scotiabank lowered their target price on Continental Resources from $14.00 to $13.50 and set an “outperform” rating on the stock in a research note on Friday, September 8th. Two investment 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. The stock currently has an average rating of “Buy” and an average target price of $46.40.
Continental Resources (CLR) traded up $1.05 during mid-day trading on Thursday, reaching $45.94. The company’s stock had a trading volume of 92,087 shares, compared to its average volume of 2,334,887. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 0.85. Continental Resources has a twelve month low of $29.08 and a twelve month high of $60.30. The stock has a market capitalization of $16,355.80, a PE ratio of 1,089.75 and a beta of 1.40.
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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The business had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The business’s revenue was up 38.1% on a year-over-year basis. equities research analysts forecast that Continental Resources will post 0.2 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in CLR. Ameriprise Financial Inc. increased its stake in Continental Resources by 1.4% in the 1st quarter. Ameriprise Financial Inc. now owns 39,294 shares of the oil and natural gas company’s stock worth $1,785,000 after acquiring an additional 533 shares during the last quarter. BlackRock Inc. increased its stake in Continental Resources by 4,992.6% in the 1st quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after acquiring an additional 4,863,974 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Continental Resources by 10.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 200,174 shares of the oil and natural gas company’s stock worth $9,092,000 after purchasing an additional 19,189 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Continental Resources by 16.7% in the 1st quarter. AQR Capital Management LLC now owns 104,992 shares of the oil and natural gas company’s stock worth $4,769,000 after purchasing an additional 15,040 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Continental Resources by 9.4% in the 1st quarter. HighTower Advisors LLC now owns 9,077 shares of the oil and natural gas company’s stock worth $415,000 after purchasing an additional 777 shares in the last quarter. Institutional investors and hedge funds own 23.23% 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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