Continental Resources’ (CLR) “Buy” Rating Reaffirmed at Barclays PLC

Continental Resources, Inc. (NYSE:CLR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays PLC in a research note issued on Thursday, April 20th. They presently have a $53.00 price target on the oil and natural gas company’s stock, down from their prior price target of $58.00. Barclays PLC’s target price would suggest a potential upside of 24.33% from the stock’s previous close.

Several other research firms also recently weighed in on CLR. Stifel Nicolaus reissued a “buy” rating and issued a $61.00 target price on shares of Continental Resources in a research report on Wednesday, April 12th. Scotiabank reissued a “buy” rating and issued a $68.00 target price on shares of Continental Resources in a research report on Thursday, February 23rd. KLR Group raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, January 31st. Instinet reaffirmed a “positive” rating on shares of Continental Resources in a report on Monday, January 30th. Finally, Deutsche Bank AG decreased their price target on shares of Continental Resources from $64.00 to $58.00 and set a “hold” rating for the company in a report on Tuesday, March 7th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $56.71.

Analyst Recommendations for Continental Resources (NYSE:CLR)

Shares of Continental Resources (NYSE:CLR) opened at 42.63 on Thursday. Continental Resources has a 52-week low of $39.30 and a 52-week high of $60.30. The stock has a 50 day moving average price of $43.49 and a 200-day moving average price of $47.52. The firm’s market cap is $15.82 billion.

Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $685.43 million during the quarter, compared to the consensus estimate of $646.46 million. Continental Resources had a negative net margin of 28.27% and a negative return on equity of 8.69%. On average, equities analysts anticipate that Continental Resources will post $0.43 EPS for the current fiscal year.

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In other news, CEO Harold Hamm purchased 32,985 shares of the business’s stock in a transaction dated Tuesday, March 28th. The shares were acquired at an average price of $42.90 per share, for a total transaction of $1,415,056.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John D. Hart sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $45.50, for a total transaction of $273,000.00. The disclosure for this sale can be found here. 76.97% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Continental Resources by 0.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,019 shares of the oil and natural gas company’s stock valued at $637,000 after buying an additional 36 shares in the last quarter. M&T Bank Corp raised its position in Continental Resources by 1.4% in the first quarter. M&T Bank Corp now owns 6,125 shares of the oil and natural gas company’s stock valued at $278,000 after buying an additional 85 shares in the last quarter. Hanseatic Management Services Inc. raised its position in Continental Resources by 0.7% in the first quarter. Hanseatic Management Services Inc. now owns 12,047 shares of the oil and natural gas company’s stock valued at $547,000 after buying an additional 87 shares in the last quarter. Comerica Bank raised its position in Continental Resources by 0.7% in the first quarter. Comerica Bank now owns 15,941 shares of the oil and natural gas company’s stock valued at $677,000 after buying an additional 110 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in Continental Resources by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,430 shares of the oil and natural gas company’s stock valued at $103,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 23.17% of the company’s stock.

Continental Resources Company Profile

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.

12 Month Chart for NYSE:CLR

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