A number of other research firms have also weighed in on CLR. SunTrust Banks, Inc. reaffirmed a buy rating and set a $55.00 price objective on shares of Continental Resources in a research report on Friday, November 10th. Scotiabank reduced their price objective on Continental Resources from $12.50 to $11.50 and set an outperform rating for the company in a research report on Friday, November 10th. Royal Bank Of Canada raised their price objective on Continental Resources from $48.00 to $51.00 and gave the company an outperform rating in a research report on Thursday, November 9th. Imperial Capital raised Continental Resources from an in-line rating to an outperform rating and set a $60.00 price objective for the company in a research report on Thursday, November 9th. Finally, Zacks Investment Research raised Continental Resources from a hold rating to a buy rating and set a $49.00 price objective for the company in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $46.35.
Shares of Continental Resources (CLR) traded up $0.68 during trading hours on Monday, hitting $45.52. The stock had a trading volume of 2,618,700 shares, compared to its average volume of 2,880,166. Continental Resources has a 12-month low of $29.08 and a 12-month high of $60.30. The company has a market cap of $17,060.00, a price-to-earnings ratio of 1,121.00 and a beta of 1.40. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85.
Continental Resources (NYSE:CLR) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The firm had revenue of $726.74 million during the quarter, compared to analyst estimates of $710.77 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The business’s revenue was up 38.1% compared to the same quarter last year. analysts forecast that Continental Resources will post 0.27 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its position in Continental Resources by 244.1% during the third quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock valued at $153,000 after purchasing an additional 2,810 shares in the last quarter. Financial Architects Inc raised its holdings in Continental Resources by 870.0% during the second quarter. Financial Architects Inc now owns 4,850 shares of the oil and natural gas company’s stock valued at $157,000 after acquiring an additional 4,350 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in Continental Resources by 35.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after acquiring an additional 1,261 shares during the period. Sii Investments Inc. WI bought a new stake in Continental Resources during the third quarter valued at about $200,000. Finally, Sei Investments Co. raised its holdings in Continental Resources by 131.7% during the third quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock valued at $205,000 after acquiring an additional 3,009 shares during the period. Institutional investors own 23.27% 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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