Continental Resources (NYSE:CLR) PT Raised to $79.00 at Truist

Continental Resources (NYSE:CLR) had its price objective lifted by Truist from $72.00 to $79.00 in a report released on Friday, The Fly reports. They currently have a buy rating on the oil and natural gas company’s stock.

CLR has been the subject of several other research reports. Barclays reissued a sell rating and set a $41.00 price target (down previously from $43.00) on shares of Continental Resources in a research report on Friday, December 24th. Piper Sandler upped their price target on shares of Continental Resources from $36.00 to $49.00 and gave the company a neutral rating in a report on Thursday, October 21st. Siebert Williams Shank downgraded shares of Continental Resources from a buy rating to a hold rating and set a $55.00 target price on the stock. in a research note on Thursday, November 4th. Wells Fargo & Company upped their price target on shares of Continental Resources from $48.00 to $56.00 and gave the stock an overweight rating in a research report on Thursday, October 14th. Finally, Zacks Investment Research cut shares of Continental Resources from a buy rating to a hold rating and set a $45.00 target price for the company. in a research report on Tuesday, December 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $50.31.

Shares of NYSE:CLR opened at $52.28 on Friday. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 0.26 and a beta of 3.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.41 and a quick ratio of 1.32. The business’s 50-day moving average is $46.48 and its 200-day moving average is $43.07. Continental Resources has a 1 year low of $18.03 and a 1 year high of $55.48.

Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, November 3rd. The oil and natural gas company reported $1.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.20. Continental Resources had a return on equity of 14.17% and a net margin of 17.84%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted ($0.16) earnings per share. Analysts anticipate that Continental Resources will post 4.62 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Investors of record on Monday, November 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Continental Resources’s previous quarterly dividend of $0.15. Continental Resources’s payout ratio is 35.40%.

In other Continental Resources news, CFO John D. Hart sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $50.32, for a total transaction of $452,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harold Hamm purchased 125,000 shares of the stock in a transaction on Wednesday, December 1st. The shares were purchased at an average price of $44.33 per share, with a total value of $5,541,250.00. The disclosure for this purchase can be found here. Insiders purchased 362,520 shares of company stock valued at $16,359,012 in the last 90 days. Company insiders own 79.60% of the company’s stock.

Large investors have recently modified their holdings of the company. First Horizon Advisors Inc. purchased a new stake in shares of Continental Resources during the 3rd quarter worth approximately $27,000. Advisory Services Network LLC purchased a new stake in Continental Resources in the 2nd quarter valued at $29,000. Farmers & Merchants Investments Inc. purchased a new stake in Continental Resources in the 4th quarter valued at $29,000. Logan Capital Management Inc. raised its position in Continental Resources by 90.0% in the 3rd quarter. Logan Capital Management Inc. now owns 950 shares of the oil and natural gas company’s stock valued at $44,000 after purchasing an additional 450 shares during the last quarter. Finally, Liberty Wealth Management LLC raised its position in Continental Resources by 3,716.9% in the 2nd quarter. Liberty Wealth Management LLC now owns 2,252 shares of the oil and natural gas company’s stock valued at $59,000 after purchasing an additional 2,193 shares during the last quarter. Institutional investors and hedge funds own 13.02% of the company’s stock.

About Continental Resources

Continental Resources, Inc engages in the exploration, development and production of crude oil and natural gas. The firm sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies. The company was founded by Harold G.

See Also: Are FAANG stocks a good investment?

The Fly logo

Analyst Recommendations for Continental Resources (NYSE:CLR)

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.