Continental Resources (CLR) Upgraded to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Continental Resources (NYSE:CLR) from a neutral rating to an outperform rating in a research report released on Monday morning. The brokerage currently has $54.00 price objective on the oil and natural gas company’s stock, up from their previous price objective of $46.00.

CLR has been the topic of several other research reports. TheStreet raised shares of Continental Resources from a d+ rating to a c rating in a research note on Friday, November 17th. Royal Bank of Canada upped their price objective on shares of Continental Resources from $48.00 to $51.00 and gave the company an outperform rating in a research note on Thursday, November 9th. Barclays upped their price objective on shares of Continental Resources from $37.00 to $42.00 and gave the company an overweight rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Continental Resources from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research note on Wednesday, November 8th. Finally, Morgan Stanley upped their price objective on shares of Continental Resources from $43.00 to $51.00 and gave the company an overweight rating in a research note on Wednesday, October 18th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $47.19.

Continental Resources (NYSE:CLR) opened at $48.34 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94. The stock has a market cap of $17,709.86, a P/E ratio of 1,180.00 and a beta of 1.44. Continental Resources has a one year low of $29.08 and a one year high of $53.57.

Continental Resources (NYSE:CLR) last announced 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 consensus estimate of $0.04 by $0.05. The business had revenue of $726.74 million for the quarter, compared to the consensus estimate of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The company’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. research analysts forecast that Continental Resources will post 0.3 EPS for the current fiscal year.

In other news, Director Mark E. Monroe sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 76.87% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. grew its holdings in Continental Resources by 21.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 290,797 shares of the oil and natural gas company’s stock valued at $11,228,000 after purchasing an additional 50,793 shares in the last quarter. GeoSphere Capital Management grew its holdings in Continental Resources by 20.0% during the 3rd quarter. GeoSphere Capital Management now owns 60,000 shares of the oil and natural gas company’s stock valued at $2,317,000 after purchasing an additional 10,000 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Continental Resources during the 3rd quarter valued at $304,000. California Public Employees Retirement System grew its holdings in Continental Resources by 0.7% during the 3rd quarter. California Public Employees Retirement System now owns 234,268 shares of the oil and natural gas company’s stock valued at $9,045,000 after purchasing an additional 1,568 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Continental Resources by 35.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after purchasing an additional 1,261 shares in the last quarter. 22.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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