Continental Resources, Inc. (NYSE:CLR) had its price objective reduced by BMO Capital Markets from $45.00 to $36.00 in a research report sent to investors on Friday, July 14th. They currently have an outperform rating on the oil and natural gas company’s stock.
CLR has been the topic of a number of other research reports. Credit Suisse Group raised Continental Resources from a neutral rating to an outperform rating and increased their price target for the company from $40.00 to $57.00 in a research note on Friday, May 5th. They noted that the move was a valuation call. Scotiabank set a $62.00 price target on Continental Resources and gave the company a buy rating in a research note on Monday, March 27th. Barclays PLC reaffirmed a buy rating and set a $53.00 price objective (down previously from $58.00) on shares of Continental Resources in a research note on Thursday, April 20th. ValuEngine downgraded Continental Resources from a hold rating to a sell rating in a research note on Friday, June 2nd. Finally, Seaport Global Securities downgraded Continental Resources from a buy rating to a sell rating and dropped their price objective for the stock from $57.00 to $20.00 in a research note on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $50.13.
Continental Resources (NYSE CLR) opened at 32.44 on Friday. Continental Resources has a one year low of $29.08 and a one year high of $60.30. The company has a 50 day moving average price of $32.03 and a 200-day moving average price of $40.90. The firm’s market capitalization is $12.04 billion.
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In related news, CEO Harold Hamm acquired 36,452 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was bought at an average price of $42.05 per share, for a total transaction of $1,532,806.60. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 76.97% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Continental Resources by 4,992.6% in the first quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after buying an additional 4,863,974 shares during the last quarter. Bank of America Corp DE boosted its position in Continental Resources by 86.6% in the first quarter. Bank of America Corp DE now owns 3,497,989 shares of the oil and natural gas company’s stock worth $158,879,000 after buying an additional 1,623,470 shares during the last quarter. Norges Bank acquired a new position in Continental Resources during the fourth quarter worth approximately $36,323,000. Renaissance Technologies LLC acquired a new position in Continental Resources during the first quarter worth approximately $22,855,000. Finally, Teachers Advisors LLC boosted its position in Continental Resources by 14.3% in the fourth quarter. Teachers Advisors LLC now owns 2,444,638 shares of the oil and natural gas company’s stock worth $125,997,000 after buying an additional 305,643 shares during the last quarter. Institutional investors and hedge funds own 23.07% of the company’s stock.
About Continental Resources
Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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