Continental Resources (CLR) PT Set at $57.00 by Jefferies Group

Continental Resources (NYSE:CLR) has been given a $57.00 price objective by Jefferies Group in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s price target points to a potential upside of 14.90% from the stock’s previous close.

CLR has been the topic of several other reports. Credit Suisse Group began coverage on shares of Continental Resources in a research report on Monday, December 11th. They issued an “outperform” rating and a $57.00 price objective on the stock. Zacks Investment Research cut shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Macquarie raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $53.57 to $55.00 in a research report on Thursday, December 14th. KeyCorp reaffirmed a “hold” rating on shares of Continental Resources in a research report on Monday, November 13th. Finally, Royal Bank of Canada boosted their price objective on shares of Continental Resources from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.60.

Shares of Continental Resources (NYSE:CLR) opened at $49.61 on Wednesday. The company has a market cap of $18,141.35, a price-to-earnings ratio of 1,208.75 and a beta of 1.44. Continental Resources has a 52-week low of $29.08 and a 52-week high of $53.57. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 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 analysts’ expectations of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The firm’s revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) EPS. equities analysts predict that Continental Resources will post 0.3 earnings per share for the current fiscal year.

In other news, Director Mark E. Monroe sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total transaction of $958,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 76.87% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in shares of Continental Resources by 1.5% during the 2nd quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock worth $264,000 after purchasing an additional 118 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Continental Resources by 1.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock worth $255,000 after purchasing an additional 146 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Continental Resources by 1.3% during the 2nd quarter. Utah Retirement Systems now owns 16,004 shares of the oil and natural gas company’s stock worth $517,000 after purchasing an additional 200 shares during the last quarter. Aviva PLC increased its stake in shares of Continental Resources by 0.5% during the 2nd quarter. Aviva PLC now owns 56,252 shares of the oil and natural gas company’s stock worth $1,819,000 after purchasing an additional 300 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Continental Resources by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 22.54% of the company’s stock.

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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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