Continental Resources, Inc. (NYSE:CLR) had its target price hoisted by BMO Capital Markets from $8.00 to $11.00 in a research report issued on Monday. BMO Capital Markets’ price objective would suggest a potential downside of 75.32% from the company’s previous close.
CLR has been the topic of a number of other reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $46.00 price objective on shares of Continental Resources in a report on Thursday, July 20th. Cowen and Company set a $35.00 price objective on shares of Continental Resources and gave the company a “hold” rating in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, November 8th. Piper Jaffray Companies restated a “buy” rating and set a $41.00 target price on shares of Continental Resources in a report on Friday, October 6th. Finally, Bank of America Corporation boosted their target price on shares of Continental Resources from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $46.35.
Shares of Continental Resources (CLR) opened at $44.57 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $60.30. The stock has a market cap of $17,195.82, a P/E ratio of 1,145.75 and a beta of 1.40.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The company had revenue of $726.74 million for the quarter, compared to the consensus estimate of $710.77 million. During the same period last year, the company earned ($0.22) earnings per share. The firm’s revenue was up 38.1% compared to the same quarter last year. sell-side analysts predict that Continental Resources will post 0.24 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in CLR. Renaissance Technologies LLC boosted its position in shares of Continental Resources by 474.8% in the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after acquiring an additional 2,389,400 shares during the period. FMR LLC lifted its position in 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 purchasing an additional 1,875,103 shares during the period. Vanguard Group Inc. lifted its position in 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 purchasing an additional 1,703,303 shares during the period. Balyasny Asset Management LLC lifted its position in Continental Resources by 208.2% during the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock worth $77,106,000 after purchasing an additional 1,611,003 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in Continental Resources during the third quarter worth about $52,973,000. 23.27% of the stock is owned by institutional investors.
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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