Royal Bank of Canada Analysts Give Continental Resources (CLR) a $81.00 Price Target

Continental Resources (NYSE:CLR) received a $81.00 target price from equities research analysts at Royal Bank of Canada in a report released on Thursday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 30.69% from the stock’s current price.

CLR has been the topic of a number of other research reports. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “strong-buy” rating and set a $72.00 target price on the stock in a report on Wednesday, July 4th. Morgan Stanley reduced their target price on Continental Resources from $97.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. TD Securities started coverage on Continental Resources in a report on Thursday, July 5th. They set a “hold” rating and a $73.00 target price on the stock. Bank of America upped their target price on Continental Resources from $84.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $77.00 target price on shares of Continental Resources in a report on Thursday, August 30th. Twelve investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $70.09.

Shares of CLR stock traded up $0.23 during midday trading on Thursday, reaching $61.98. 31,011 shares of the stock were exchanged, compared to its average volume of 1,435,836. Continental Resources has a 1 year low of $36.05 and a 1 year high of $69.91. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97. The company has a market capitalization of $23.62 billion, a price-to-earnings ratio of 121.43, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30.

Continental Resources (NYSE:CLR) last posted its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Continental Resources had a return on equity of 14.01% and a net margin of 32.80%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. sell-side analysts forecast that Continental Resources will post 3.14 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal London Asset Management Ltd. bought a new stake in shares of Continental Resources in the 2nd quarter worth approximately $2,607,000. Northern Trust Corp boosted its position in shares of Continental Resources by 2.0% in the 2nd quarter. Northern Trust Corp now owns 781,598 shares of the oil and natural gas company’s stock worth $50,617,000 after purchasing an additional 15,329 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Continental Resources by 13.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 45,265 shares of the oil and natural gas company’s stock valued at $2,931,000 after acquiring an additional 5,285 shares in the last quarter. WINTON GROUP Ltd lifted its position in Continental Resources by 54.7% in the 2nd quarter. WINTON GROUP Ltd now owns 11,678 shares of the oil and natural gas company’s stock valued at $756,000 after acquiring an additional 4,131 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in Continental Resources in the 2nd quarter valued at approximately $2,461,000. 22.53% of the stock is currently owned by hedge funds and other institutional investors.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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.

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Analyst Recommendations for Continental Resources (NYSE:CLR)

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