Continental Resources (NYSE:CLR) received a $67.00 target price from research analysts at Piper Jaffray in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Piper Jaffray’s target price suggests a potential upside of 8.33% from the stock’s previous close.
CLR has been the subject of several other reports. Credit Suisse Group reissued an “outperform” rating and issued a $70.00 price objective (up from $65.00) on shares of Continental Resources in a research note on Tuesday, February 20th. Royal Bank of Canada reissued a “buy” rating and issued a $52.00 price objective on shares of Continental Resources in a research note on Wednesday, December 20th. Stifel Nicolaus reissued a “buy” rating and issued a $69.00 price objective (down from $71.00) on shares of Continental Resources in a research note on Friday, February 16th. ValuEngine downgraded Continental Resources from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks set a $75.00 price objective on Continental Resources and gave the company a “buy” rating in a research note on Friday, March 16th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $57.13.
Shares of NYSE:CLR opened at $61.85 on Wednesday. Continental Resources has a 1 year low of $29.08 and a 1 year high of $62.67. The company has a market cap of $22,884.42, a PE ratio of 121.27 and a beta of 1.27. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94.
In other news, SVP Eric Spencer Eissenstat sold 10,000 shares of the stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $56.02, for a total transaction of $560,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Harold Hamm purchased 99,028 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $50.26 per share, with a total value of $4,977,147.28. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 156,909 shares of company stock valued at $7,846,156. Company insiders own 76.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Continental Resources by 40.5% during the 3rd quarter. Wells Fargo & Company MN now owns 568,536 shares of the oil and natural gas company’s stock worth $21,951,000 after purchasing an additional 163,935 shares during the period. Greenleaf Trust purchased a new position in Continental Resources during the 4th quarter valued at about $274,000. SG Americas Securities LLC purchased a new position in Continental Resources during the 4th quarter valued at about $297,000. State of Alaska Department of Revenue purchased a new position in Continental Resources during the 4th quarter valued at about $317,000. Finally, Sovarnum Capital L.P. purchased a new position in Continental Resources during the 4th quarter valued at about $265,000. Institutional investors and hedge funds own 22.43% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This news story was first posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://dakotafinancialnews.com/2018/04/12/continental-resources-clr-given-a-67-00-price-target-at-piper-jaffray.html.
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.
Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.