Continental Resources (NYSE:CLR) PT Lowered to $56.00

Continental Resources (NYSE:CLR) had its target price reduced by investment analysts at Barclays from $58.00 to $56.00 in a report released on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s target price would indicate a potential upside of 71.15% from the stock’s current price.

CLR has been the subject of a number of other research reports. Wells Fargo & Co lowered their price target on shares of Continental Resources from $55.00 to $53.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Morgan Stanley lowered their price target on shares of Continental Resources from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target (down previously from $60.00) on shares of Continental Resources in a report on Wednesday, August 21st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $52.00 price target on shares of Continental Resources in a report on Thursday, August 8th. Finally, BMO Capital Markets downgraded shares of Continental Resources from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $46.00 to $45.00 in a report on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Continental Resources has an average rating of “Buy” and an average price target of $49.50.

Shares of CLR traded down $0.28 during midday trading on Thursday, hitting $32.72. 2,382,858 shares of the company traded hands, compared to its average volume of 2,656,191. The firm has a 50 day moving average of $29.82 and a 200-day moving average of $35.48. Continental Resources has a 52 week low of $27.26 and a 52 week high of $52.03. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.34 and a beta of 1.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.81 and a current ratio of 0.89.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.10. Continental Resources had a net margin of 17.00% and a return on equity of 12.49%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. Sell-side analysts predict that Continental Resources will post 2.13 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Continental Resources by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,814,384 shares of the oil and natural gas company’s stock worth $370,998,000 after purchasing an additional 168,057 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Continental Resources by 6.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,462,357 shares of the oil and natural gas company’s stock worth $356,181,000 after acquiring an additional 512,106 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Continental Resources by 42.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 3,354,794 shares of the oil and natural gas company’s stock worth $141,203,000 after acquiring an additional 1,000,030 shares during the period. Worldquant Millennium Advisors LLC increased its position in shares of Continental Resources by 190.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,019,207 shares of the oil and natural gas company’s stock worth $42,898,000 after acquiring an additional 668,830 shares during the period. Finally, Northern Trust Corp increased its position in shares of Continental Resources by 1.5% during the second quarter. Northern Trust Corp now owns 836,129 shares of the oil and natural gas company’s stock worth $35,194,000 after acquiring an additional 12,101 shares during the period. 19.44% of the stock is currently owned by institutional investors.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

Featured Article: Mutual Funds

Stock Target Advisor

Analyst Recommendations for Continental Resources (NYSE:CLR)

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.