Continental Resources, Inc. (NYSE:CLR – Get Rating) has been given a consensus recommendation of "Hold" by the nineteen analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $72.82.
CLR has been the subject of a number of research analyst reports. Scotiabank downgraded shares of Continental Resources from a "sector outperform" rating to a "sector perform" rating in a report on Monday, August 1st. StockNews.com assumed coverage on shares of Continental Resources in a research note on Wednesday, October 12th. They set a "hold" rating for the company. Morgan Stanley raised shares of Continental Resources from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $67.00 to $74.00 in a research note on Wednesday, October 19th. Raymond James lowered shares of Continental Resources from an "outperform" rating to a "market perform" rating and set a $74.00 price objective for the company. in a research note on Monday, October 24th. Finally, Mizuho upped their price objective on shares of Continental Resources from $72.00 to $74.00 and gave the company a "neutral" rating in a research note on Monday, October 24th.
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Hedge Funds Weigh In On Continental Resources
A number of hedge funds have recently added to or reduced their stakes in the company. Cowa LLC acquired a new position in Continental Resources in the third quarter worth approximately $261,000. Commerce Bank grew its holdings in Continental Resources by 3.1% during the third quarter. Commerce Bank now owns 46,353 shares of the oil and natural gas company's stock valued at $3,097,000 after purchasing an additional 1,400 shares during the last quarter. Empowered Funds LLC acquired a new position in Continental Resources during the third quarter valued at approximately $634,000. First Republic Investment Management Inc. grew its holdings in Continental Resources by 0.5% during the third quarter. First Republic Investment Management Inc. now owns 62,228 shares of the oil and natural gas company's stock valued at $4,157,000 after purchasing an additional 334 shares during the last quarter. Finally, Creative Planning grew its holdings in Continental Resources by 24.3% during the third quarter. Creative Planning now owns 34,004 shares of the oil and natural gas company's stock valued at $2,272,000 after purchasing an additional 6,644 shares during the last quarter. Institutional investors and hedge funds own 13.41% of the company's stock.
Continental Resources Price Performance
Shares of NYSE CLR opened at $74.15 on Friday. Continental Resources has a twelve month low of $40.75 and a twelve month high of $75.49. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 0.20 and a beta of 2.32. The firm has a 50-day moving average of $70.38 and a two-hundred day moving average of $66.88.
Continental Resources (NYSE:CLR – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The oil and natural gas company reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.10). Continental Resources had a net margin of 37.73% and a return on equity of 40.32%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company posted $1.20 earnings per share. Continental Resources's revenue was up 82.4% compared to the same quarter last year. As a group, analysts expect that Continental Resources will post 11.25 earnings per share for the current fiscal year.
About Continental Resources
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Continental Resources, Inc is an independent oil producer engaged in the exploration, development, and production of crude oil and natural gas. The firm's operations include horizontal drilling and protecting groundwater. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.
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