Continental Resources, Inc. (NYSE:CLR) – Equities research analysts at Seaport Global Securities raised their FY2017 earnings per share estimates for Continental Resources in a note issued to investors on Thursday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings per share of $0.00 for the year, up from their previous estimate of ($0.01). Seaport Global Securities has a “Sell” rating and a $20.00 price target on the stock.
CLR has been the subject of several other reports. Credit Suisse Group upgraded shares of Continental Resources from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $57.00 in a research note on Friday, May 5th. They noted that the move was a valuation call. Scotiabank set a $62.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research note on Monday, March 27th. Barclays PLC reiterated a “buy” rating and set a $53.00 price objective (down from $58.00) on shares of Continental Resources in a research note on Thursday, April 20th. ValuEngine downgraded shares of Continental Resources from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, KLR Group lifted their price objective on shares of Continental Resources from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $53.95.
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Shares of Continental Resources (NYSE:CLR) opened at 30.03 on Monday. The stock’s market capitalization is $11.14 billion. Continental Resources has a 52 week low of $29.08 and a 52 week high of $60.30. The firm’s 50-day moving average is $36.52 and its 200-day moving average is $44.29.
Continental Resources (NYSE:CLR) last announced its earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $685.43 million during the quarter, compared to analyst estimates of $646.46 million. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLR. BlackRock Inc. boosted its position in Continental Resources by 4,992.6% in the first quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after buying an additional 4,863,974 shares during the last quarter. Bank of America Corp DE boosted its position in Continental Resources by 86.6% in the first quarter. Bank of America Corp DE now owns 3,497,989 shares of the oil and natural gas company’s stock worth $158,879,000 after buying an additional 1,623,470 shares during the last quarter. Norges Bank purchased a new position in Continental Resources during the fourth quarter worth $36,323,000. Renaissance Technologies LLC purchased a new position in Continental Resources during the first quarter worth $22,855,000. Finally, Teachers Advisors LLC boosted its position in Continental Resources by 14.3% in the fourth quarter. Teachers Advisors LLC now owns 2,444,638 shares of the oil and natural gas company’s stock worth $125,997,000 after buying an additional 305,643 shares during the last quarter. 23.04% of the stock is owned by institutional investors.
In other news, CEO Harold Hamm acquired 36,452 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was bought at an average price of $42.05 per share, with a total value of $1,532,806.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 76.97% of the stock is currently owned by insiders.
About Continental Resources
Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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