Continental Resources (NYSE:CLR) had its target price raised by investment analysts at BMO Capital Markets to $65.00 in a research note issued to investors on Friday. The brokerage presently has an “outperform” rating on the oil and natural gas company’s stock. BMO Capital Markets’ target price points to a potential upside of 21.88% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Continental Resources in a research report on Friday, November 10th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, November 14th. Bank of America upped their price objective on shares of Continental Resources from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Continental Resources in a research report on Wednesday, November 22nd. Finally, Jefferies Group set a $57.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Continental Resources presently has a consensus rating of “Buy” and a consensus target price of $55.79.
Shares of Continental Resources (CLR) traded down $0.44 during mid-day trading on Friday, reaching $53.33. 4,512,505 shares of the company’s stock were exchanged, compared to its average volume of 2,460,245. Continental Resources has a twelve month low of $29.08 and a twelve month high of $58.89. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55. The company has a market cap of $20,174.98, a P/E ratio of -761.75 and a beta of 1.36.
In related news, SVP Gary E. Gould sold 9,874 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, President Jack H. Stark sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $49.05, for a total transaction of $588,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,874 shares of company stock worth $2,603,673 over the last 90 days. 76.87% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. American International Group Inc. purchased a new stake in shares of Continental Resources during the 4th quarter valued at approximately $102,000. Exane Derivatives purchased a new stake in shares of Continental Resources during the 4th quarter valued at approximately $113,000. Toronto Dominion Bank lifted its stake in shares of Continental Resources by 244.1% during 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 in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Continental Resources by 126.7% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock valued at $180,000 after buying an additional 1,900 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of 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 buying an additional 1,261 shares in the last quarter. Institutional investors own 22.57% of the company’s stock.
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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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