Continental Resources (NYSE:CLR) PT Raised to $25.00

Continental Resources (NYSE:CLR) had its price target lifted by investment analysts at Barclays from $21.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and natural gas company’s stock. Barclays‘s price objective would suggest a potential downside of 11.66% from the company’s current price.

Several other research firms have also recently issued reports on CLR. KeyCorp boosted their price objective on shares of Continental Resources from $29.00 to $33.00 and gave the company an “overweight” rating in a research report on Wednesday, March 17th. Raymond James upgraded Continental Resources from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Thursday, April 29th. TD Securities upped their target price on Continental Resources from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, April 29th. MKM Partners upgraded Continental Resources from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday, March 30th. Finally, Bank of America restated a “neutral” rating on shares of Continental Resources in a report on Monday, March 22nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.35.

Shares of NYSE:CLR opened at $28.30 on Tuesday. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of -32.91 and a beta of 3.37. Continental Resources has a 12 month low of $11.09 and a 12 month high of $32.39. The firm’s 50-day moving average is $26.48 and its 200 day moving average is $20.68. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.87.

Continental Resources (NYSE:CLR) last released its quarterly earnings data on Tuesday, April 27th. The oil and natural gas company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.25. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $922.45 million. Continental Resources had a negative net margin of 10.54% and a negative return on equity of 2.05%. The firm’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. As a group, equities analysts forecast that Continental Resources will post -1.01 EPS for the current fiscal year.

In other Continental Resources news, CFO John D. Hart sold 7,500 shares of the stock in a transaction dated Wednesday, March 24th. The stock was sold at an average price of $26.63, for a total transaction of $199,725.00. The sale was disclosed in a filing with the SEC, which is available through this link. 79.60% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. Smead Capital Management Inc. grew its position in shares of Continental Resources by 146.9% during the 4th quarter. Smead Capital Management Inc. now owns 3,093,762 shares of the oil and natural gas company’s stock valued at $50,428,000 after acquiring an additional 1,840,965 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Continental Resources in the 4th quarter worth about $31,223,000. Voloridge Investment Management LLC boosted its holdings in Continental Resources by 53.2% in the 4th quarter. Voloridge Investment Management LLC now owns 616,321 shares of the oil and natural gas company’s stock worth $10,046,000 after buying an additional 213,986 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Continental Resources by 8.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 602,720 shares of the oil and natural gas company’s stock worth $9,825,000 after buying an additional 47,060 shares during the last quarter. Finally, Impala Asset Management LLC acquired a new stake in Continental Resources in the 4th quarter worth about $8,554,000. Hedge funds and other institutional investors own 14.81% of the company’s stock.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas 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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Analyst Recommendations for Continental Resources (NYSE:CLR)

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