Continental Resources (NYSE:CLR – Get Rating) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Friday.
A number of other research firms also recently commented on CLR. Royal Bank of Canada downgraded shares of Continental Resources from an "outperform" rating to a "sector perform" rating and increased their price objective for the stock from $75.00 to $80.00 in a research note on Wednesday, July 6th. Scotiabank downgraded shares of Continental Resources from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, August 1st. Wells Fargo & Company cut shares of Continental Resources from an "overweight" rating to an "equal weight" rating and set a $82.00 target price on the stock. in a report on Wednesday, June 15th. Credit Suisse Group set a $78.00 price objective on shares of Continental Resources in a research note on Monday, June 20th. Finally, Cowen set a $70.00 price objective on shares of Continental Resources in a research note on Tuesday, July 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $69.14.
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Continental Resources Price Performance
Shares of CLR traded down $1.05 on Friday, hitting $69.84. The company's stock had a trading volume of 1,755,079 shares, compared to its average volume of 1,756,319. The company has a market capitalization of $25.35 billion, a PE ratio of 8.68, a PEG ratio of 0.15 and a beta of 2.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.93. Continental Resources has a fifty-two week low of $40.04 and a fifty-two week high of $75.49. The company has a 50 day moving average price of $67.88 and a 200 day moving average price of $64.56.
Continental Resources (NYSE:CLR – Get Rating) last issued its earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.05 by $0.42. The company had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.66 billion. Continental Resources had a net
margin of 37.73% and a return on equity of 40.32%. The business's revenue for the quarter was up 114.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. On average, research analysts anticipate that Continental Resources will post 12.42 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Continental Resources
Large investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Continental Resources by 509.2% in the second quarter. FMR LLC now owns 2,835,191 shares of the oil and natural gas company's stock worth $185,279,000 after purchasing an additional 2,369,759 shares during the last quarter. Smead Capital Management Inc. lifted its position in shares of Continental Resources by 18.5% during the fourth quarter. Smead Capital Management Inc. now owns 6,578,234 shares of the oil and natural gas company's stock valued at $294,442,000 after buying an additional 1,027,801 shares during the last quarter. First Trust Advisors LP raised its position in shares of Continental Resources by 157.6% in the 1st quarter. First Trust Advisors LP now owns 1,281,391 shares of the oil and natural gas company's stock valued at $78,588,000 after purchasing an additional 784,017 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Continental Resources in the 2nd quarter valued at approximately $42,997,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Continental Resources in the 2nd quarter valued at approximately $41,255,000. Institutional investors own 13.41% of the company's stock.
Continental Resources Company Profile
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Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products primarily in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.
Further Reading
- Get a free copy of the StockNews.com research report on Continental Resources (CLR)
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