Northland Securities assumed coverage on shares of Continental Resources (NYSE:CLR) in a research report report published on Monday morning, Benzinga reports. The brokerage issued a market perform rating and a $18.00 price target on the oil and natural gas company’s stock.
Other research analysts also recently issued research reports about the company. ValuEngine downgraded Continental Resources from a buy rating to a hold rating in a research note on Monday, August 3rd. MKM Partners raised Continental Resources from a neutral rating to a buy rating and dropped their price target for the company from $21.00 to $20.00 in a research note on Wednesday, September 9th. TD Securities boosted their price target on Continental Resources from $17.00 to $18.00 and gave the company a hold rating in a research note on Tuesday, August 4th. Mizuho lifted their target price on Continental Resources from $8.00 to $15.00 in a research report on Friday, June 19th. Finally, Imperial Capital lifted their target price on Continental Resources from $14.00 to $18.00 and gave the company an in-line rating in a research report on Tuesday, June 23rd. Six investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. Continental Resources presently has a consensus rating of Hold and an average price target of $18.89.
CLR opened at $13.97 on Monday. Continental Resources has a fifty-two week low of $6.90 and a fifty-two week high of $38.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.59 and a current ratio of 0.70. The company has a market capitalization of $5.10 billion, a P/E ratio of -66.52 and a beta of 3.41. The stock has a fifty day moving average of $16.74 and a 200-day moving average of $14.76.
Continental Resources (NYSE:CLR) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.08). The company had revenue of $175.90 million during the quarter, compared to analyst estimates of $250.07 million. Continental Resources had a negative net margin of 2.17% and a positive return on equity of 1.75%. The firm’s revenue for the quarter was down 85.4% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. On average, equities research analysts predict that Continental Resources will post -1.2 earnings per share for the current fiscal year.
In related news, Chairman Harold Hamm bought 1,224,474 shares of Continental Resources stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $16.98 per share, for a total transaction of $20,791,568.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 6,051,443 shares of company stock worth $101,417,211 over the last quarter. 79.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CLR. Envestnet Asset Management Inc. boosted its holdings in Continental Resources by 42.3% in the first quarter. Envestnet Asset Management Inc. now owns 77,793 shares of the oil and natural gas company’s stock valued at $594,000 after acquiring an additional 23,124 shares during the last quarter. UBS Group AG boosted its holdings in Continental Resources by 20.9% in the first quarter. UBS Group AG now owns 250,420 shares of the oil and natural gas company’s stock valued at $1,914,000 after acquiring an additional 43,294 shares during the last quarter. BlackRock Inc. lifted its stake in Continental Resources by 30.9% in the first quarter. BlackRock Inc. now owns 6,776,869 shares of the oil and natural gas company’s stock valued at $51,777,000 after buying an additional 1,598,924 shares during the period. SG Americas Securities LLC lifted its stake in Continental Resources by 74.0% in the first quarter. SG Americas Securities LLC now owns 21,949 shares of the oil and natural gas company’s stock valued at $168,000 after buying an additional 9,338 shares during the period. Finally, Aperio Group LLC lifted its stake in Continental Resources by 362.9% in the first quarter. Aperio Group LLC now owns 421,774 shares of the oil and natural gas company’s stock valued at $3,222,000 after buying an additional 330,662 shares during the period. Institutional investors and hedge funds own 16.73% of the company’s stock.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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.
Read More: Why Invest in Dividend Achievers?
Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.