StockNews.com cut shares of Continental Resources (NYSE:CLR – Get Rating) from a buy rating to a hold rating in a research report released on Saturday.
CLR has been the topic of a number of other research reports. Royal Bank of Canada cut shares of Continental Resources from an outperform rating to a sector perform rating and upped their price target for the stock from $75.00 to $80.00 in a research note on Wednesday, July 6th. Stifel Nicolaus lowered shares of Continental Resources from a buy rating to a hold rating and reduced their target price for the stock from $107.00 to $70.00 in a report on Tuesday, June 14th. Piper Sandler lowered shares of Continental Resources from a neutral rating to a sell rating and reduced their target price for the stock from $76.00 to $70.00 in a report on Tuesday, August 2nd. Wells Fargo & Company lowered shares of Continental Resources from an overweight rating to an equal weight rating and set a $82.00 price objective for the company. in a report on Wednesday, June 15th. Finally, Scotiabank lowered shares of Continental Resources from a sector outperform rating to a sector perform rating in a report on Monday, August 1st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $69.14.
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Continental Resources Price Performance
CLR opened at $64.05 on Friday. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 0.17 and a beta of 2.48. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $68.44 and a 200-day moving average price of $64.95. Continental Resources has a twelve month low of $40.75 and a twelve month high of $75.49.
Continental Resources (NYSE:CLR – Get Rating) last announced its earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.17 by $0.30. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Continental Resources had a net
margin of 37.73% and a return on equity of 40.32%. Continental Resources's revenue for the quarter was up 114.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. Equities analysts expect that Continental Resources will post 12.21 EPS for the current year.
Continental Resources Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 8th were paid a $0.28 dividend. The ex-dividend date was Friday, August 5th. This represents a $1.12 annualized dividend and a yield of 1.75%. Continental Resources's dividend payout ratio (DPR) is presently 13.91%.
Hedge Funds Weigh In On Continental Resources
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC purchased a new position in Continental Resources in the second quarter valued at about $250,000. Captrust Financial Advisors grew its stake in Continental Resources by 28.3% in the second quarter. Captrust Financial Advisors now owns 8,338 shares of the oil and natural gas company's stock valued at $545,000 after purchasing an additional 1,841 shares during the last quarter. ExodusPoint Capital Management LP boosted its holdings in Continental Resources by 160.8% in the second quarter. ExodusPoint Capital Management LP now owns 68,142 shares of the oil and natural gas company's stock worth $4,453,000 after acquiring an additional 42,009 shares in the last quarter. Walleye Capital LLC acquired a new stake in Continental Resources in the second quarter worth about $498,000. Finally, Atlas Capital Advisors LLC boosted its holdings in Continental Resources by 72.4% in the second quarter. Atlas Capital Advisors LLC now owns 1,312 shares of the oil and natural gas company's stock worth $86,000 after acquiring an additional 551 shares in the last quarter. Hedge funds and other 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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