SunTrust Banks, Inc. Reiterates “$50.00” Price Target for Continental Resources, Inc. (CLR)

SunTrust Banks, Inc. set a $50.00 price objective on Continental Resources, Inc. (NYSE:CLR) in a report released on Thursday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Continental Resources’ FY2020 earnings at $2.85 EPS.

Several other brokerages have also weighed in on CLR. Barclays PLC increased their target price on shares of Continental Resources from $37.00 to $42.00 and gave the stock an overweight rating in a research note on Wednesday, October 11th. BidaskClub raised shares of Continental Resources from a sell rating to a hold rating in a research note on Saturday, August 12th. Stifel Nicolaus set a $68.00 target price on shares of Continental Resources and gave the stock a buy rating in a research note on Thursday, October 5th. Citigroup Inc. lowered their target price on shares of Continental Resources from $60.00 to $40.00 and set a buy rating for the company in a research note on Friday, July 21st. Finally, Scotiabank reaffirmed a buy rating and set a $52.00 target price on shares of Continental Resources in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $46.30.

Continental Resources (CLR) opened at 37.20 on Thursday. Continental Resources has a 52 week low of $29.08 and a 52 week high of $60.30. The stock’s market capitalization is $13.81 billion. The firm has a 50 day moving average of $36.44 and a 200-day moving average of $36.93.

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Several institutional investors and hedge funds have recently made changes to their positions in CLR. BlackRock Inc. grew its position in shares of Continental Resources by 4,992.6% during 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 acquiring an additional 4,863,974 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Continental Resources by 474.8% during the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock worth $93,518,000 after acquiring an additional 2,389,400 shares during the last quarter. FMR LLC grew its position in shares of Continental Resources by 16.5% during the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock worth $427,027,000 after acquiring an additional 1,875,103 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Continental Resources by 26.4% during the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after acquiring an additional 1,703,303 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Continental Resources by 86.6% during 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 acquiring an additional 1,623,470 shares during the last quarter. Institutional investors and hedge funds own 23.38% of the company’s stock.

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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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