Shares of Continental Resources, Inc. (NYSE:CLR) have been assigned an average recommendation of “Buy” from the thirty-seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.75.
A number of equities research analysts have weighed in on CLR shares. BMO Capital Markets downgraded Continental Resources from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $46.00 to $45.00 in a research report on Thursday, July 11th. Morgan Stanley cut their price objective on Continental Resources from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Ifs Securities downgraded Continental Resources from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 23rd. ValuEngine downgraded Continental Resources from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Finally, Barclays cut their price objective on Continental Resources from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th.
In other Continental Resources news, Director John T. Mcnabb II acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $39.88 per share, for a total transaction of $39,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Harold Hamm acquired 38,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was acquired at an average price of $38.76 per share, with a total value of $1,496,136.00. The disclosure for this purchase can be found here. Insiders purchased 104,600 shares of company stock valued at $4,312,166 over the last quarter. 77.03% of the stock is currently owned by corporate insiders.
Shares of NYSE CLR traded up $0.12 during midday trading on Wednesday, hitting $37.17. 2,709,791 shares of the company’s stock were exchanged, compared to its average volume of 2,376,281. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 1.03. The business’s 50 day moving average is $39.11. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.26 and a beta of 1.67. Continental Resources has a twelve month low of $34.61 and a twelve month high of $71.95.
Continental Resources (NYSE:CLR) last released its earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Continental Resources had a return on equity of 16.71% and a net margin of 20.06%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that Continental Resources will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, November 6th.
Continental Resources announced that its Board of Directors has initiated a share buyback program on Monday, June 3rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and natural gas company to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
About Continental Resources
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.
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