Continental Resources (CLR) Given “Hold” Rating at JPMorgan Chase & Co.

Continental Resources (NYSE:CLR)‘s stock had its “hold” rating reissued by analysts at JPMorgan Chase & Co. in a research note issued on Friday.

A number of other research firms also recently commented on CLR. Guggenheim restated a “buy” rating and set a $74.00 price objective on shares of Continental Resources in a report on Thursday, November 1st. Morgan Stanley dropped their price objective on Continental Resources from $97.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. ValuEngine upgraded Continental Resources from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Barclays restated a “hold” rating on shares of Continental Resources in a report on Monday, October 29th. Finally, TD Securities upgraded Continental Resources from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $74.00 to $70.00 in a report on Tuesday, October 30th. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $72.45.

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

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

In related news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 76.83% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of CLR. FMR LLC boosted its position in Continental Resources by 16.9% in the 2nd quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock valued at $970,474,000 after buying an additional 2,170,030 shares during the last quarter. Millennium Management LLC boosted its position 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 buying an additional 1,032,069 shares during the last quarter. Voya Investment Management LLC boosted its position 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 buying an additional 798,346 shares during the last quarter. BlueMountain Capital Management LLC boosted its position 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 buying an additional 619,027 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position 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 buying an additional 594,949 shares during the last quarter. 22.43% of the stock is owned by institutional investors.

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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