Continental Resources (NYSE:CLR)‘s stock had its “buy” rating restated by investment analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday, November 22nd. They presently have a $45.00 target price on the oil and natural gas company’s stock. Piper Jaffray Companies’ target price points to a potential downside of 4.42% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. BMO Capital Markets increased their price target on Continental Resources from $8.00 to $11.00 in a report on Monday, November 13th. Jefferies Group reaffirmed a “buy” rating and set a $47.00 price target on shares of Continental Resources in a report on Thursday, October 12th. Stifel Nicolaus set a $68.00 price target on Continental Resources and gave the stock a “buy” rating in a report on Thursday, October 5th. SunTrust Banks set a $50.00 target price on Continental Resources and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Bank of America raised their target price on Continental Resources from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $46.69.
Shares of Continental Resources (NYSE:CLR) traded up $0.49 during trading on Wednesday, reaching $47.08. 1,183,438 shares of the company’s stock traded hands, compared to its average volume of 2,813,983. 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 stock has a market capitalization of $17,600.00, a price-to-earnings ratio of 1,185.25 and a beta of 1.44. Continental Resources has a one year low of $29.08 and a one year high of $57.81.
Continental Resources (NYSE:CLR) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business 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 company’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share. sell-side analysts predict that Continental Resources will post 0.29 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of CLR. Renaissance Technologies LLC grew its holdings in Continental Resources by 474.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after buying an additional 2,389,400 shares during the period. FMR LLC grew its holdings in Continental Resources by 16.5% in the 2nd 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 during the period. Vanguard Group Inc. lifted its stake in shares of Continental Resources by 26.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after purchasing an additional 1,703,303 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Continental Resources by 208.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock valued at $77,106,000 after purchasing an additional 1,611,003 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Continental Resources in the 3rd quarter valued at about $52,973,000. Institutional investors own 22.59% 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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