Johnson Rice started coverage on shares of Continental Resources (NYSE:CLR) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $67.00 price objective on the oil and natural gas company’s stock.
Several other research firms have also issued reports on CLR. Barclays reissued an overweight rating and set a $58.00 target price (up from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Tudor Pickering lowered shares of Continental Resources from a buy rating to a hold rating in a research note on Thursday, January 18th. Morgan Stanley upped their price target on shares of Continental Resources from $56.00 to $70.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Susquehanna Bancshares restated a neutral rating and set a $61.00 price target on shares of Continental Resources in a research report on Wednesday, January 17th. Finally, UBS downgraded shares of Continental Resources from a positive rating to a neutral rating in a research report on Wednesday, January 17th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Continental Resources has an average rating of Buy and a consensus price target of $56.98.
Shares of CLR stock opened at $58.00 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94. Continental Resources has a 12 month low of $29.08 and a 12 month high of $59.47. The stock has a market cap of $21,653.71, a PE ratio of 27.49 and a beta of 1.45.
Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.09. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $978.63 million. During the same period in the prior year, the company posted ($0.07) EPS. The company’s revenue for the quarter was up 90.5% on a year-over-year basis. research analysts predict that Continental Resources will post 2.37 earnings per share for the current year.
In other Continental Resources news, SVP Eric Spencer Eissenstat sold 10,000 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total value of $560,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harold Hamm acquired 99,028 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $50.26 per share, with a total value of $4,977,147.28. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 156,909 shares of company stock valued at $7,846,156. 76.87% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB increased its holdings in shares of Continental Resources by 17.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 10,406 shares of the oil and natural gas company’s stock worth $551,000 after buying an additional 1,562 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in shares of Continental Resources during the 4th quarter worth approximately $243,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Continental Resources by 55.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,550 shares of the oil and natural gas company’s stock worth $1,777,000 after buying an additional 12,036 shares during the last quarter. Ashburton Jersey Ltd increased its holdings in shares of Continental Resources by 56.5% during the 4th quarter. Ashburton Jersey Ltd now owns 46,800 shares of the oil and natural gas company’s stock worth $2,479,000 after buying an additional 16,900 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings 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 worth $180,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 22.42% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/03/24/continental-resources-clr-research-coverage-started-at-johnson-rice.html.
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.
Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.