Continental Resources’ (CLR) “Hold” Rating Reiterated at Cfra

Continental Resources (NYSE:CLR)‘s stock had its “hold” rating reissued by equities research analysts at Cfra in a note issued to investors on Friday.

CLR has been the topic of a number of other research reports. Wells Fargo & Co started coverage on shares of Continental Resources in a research report on Wednesday, October 24th. They set an “outperform” rating and a $78.00 target price on the stock. Seaport Global Securities upgraded shares of Continental Resources from a “neutral” rating to a “buy” rating and increased their target price for the stock from $64.00 to $75.00 in a research report on Monday, October 15th. Goldman Sachs Group restated a “buy” rating on shares of Continental Resources in a research report on Wednesday, October 17th. Morgan Stanley decreased their target price on shares of Continental Resources from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, September 26th. Finally, Scotiabank restated a “buy” rating and set a $78.00 target price on shares of Continental Resources in a research report on Thursday, September 27th. Eleven research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $72.45.

Shares of CLR opened at $50.73 on Friday. Continental Resources has a 52 week low of $42.83 and a 52 week high of $71.95. The stock has a market capitalization of $19.65 billion, a P/E ratio of 99.47, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 1.00.

Continental Resources (NYSE:CLR) last announced its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was up 76.4% compared to the same quarter last year. Equities analysts expect that Continental Resources will post 3.25 earnings per share for the current year.

In related news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total transaction of $335,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 76.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CLR. FMR LLC boosted its position in shares of Continental Resources by 16.9% during the 2nd quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock worth $970,474,000 after acquiring an additional 2,170,030 shares in the last quarter. Millennium Management LLC lifted its stake in Continental Resources by 269.1% in the 2nd quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock valued at $91,673,000 after purchasing an additional 1,032,069 shares during the last quarter. Voya Investment Management LLC lifted its stake in Continental Resources by 2,976.3% in the 2nd quarter. Voya Investment Management LLC now owns 825,169 shares of the oil and natural gas company’s stock valued at $53,438,000 after purchasing an additional 798,346 shares during the last quarter. BlueMountain Capital Management LLC lifted its stake in Continental Resources by 725.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 704,318 shares of the oil and natural gas company’s stock valued at $45,612,000 after purchasing an additional 619,027 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Continental Resources by 331.8% in the 2nd quarter. Janus Henderson Group PLC now owns 774,284 shares of the oil and natural gas company’s stock valued at $50,143,000 after purchasing an additional 594,949 shares during the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

About Continental Resources

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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