Continental Resources (NYSE:CLR) PT Lowered to $56.00

Continental Resources (NYSE:CLR) had its target price decreased by analysts at Barclays from $58.00 to $56.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. Barclays‘s price target points to a potential upside of 71.15% from the stock’s current price.

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Several other research analysts have also recently issued reports on the stock. Mizuho cut shares of Continental Resources from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Thursday, October 10th. Credit Suisse Group cut shares of Continental Resources from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $34.00 in a report on Friday, October 4th. KeyCorp reduced their target price on shares of Continental Resources from $47.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Citigroup cut shares of Continental Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $35.00 in a report on Monday, September 23rd. They noted that the move was a valuation call. Finally, Guggenheim reissued a “buy” rating and set a $50.00 target price (down previously from $60.00) on shares of Continental Resources in a report on Wednesday, August 21st. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Continental Resources has a consensus rating of “Buy” and a consensus target price of $49.50.

Shares of NYSE:CLR traded down $0.28 on Thursday, hitting $32.72. 2,382,858 shares of the company were exchanged, compared to its average volume of 2,656,191. Continental Resources has a 1-year low of $27.26 and a 1-year high of $52.03. The stock’s 50 day moving average price is $29.82 and its 200 day moving average price is $35.48. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $12.02 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.68.

Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.10. Continental Resources had a net margin of 17.00% and a return on equity of 12.49%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s revenue was down 13.9% compared to the same quarter last year. On average, equities analysts predict that Continental Resources will post 2.13 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLR. Motco purchased a new position in Continental Resources in the second quarter valued at $25,000. CSat Investment Advisory L.P. purchased a new stake in shares of Continental Resources during the second quarter worth about $32,000. Glen Harbor Capital Management LLC purchased a new stake in shares of Continental Resources during the second quarter worth about $38,000. Doyle Wealth Management purchased a new stake in shares of Continental Resources during the second quarter worth about $44,000. Finally, NuWave Investment Management LLC increased its stake in shares of Continental Resources by 682.2% during the third quarter. NuWave Investment Management LLC now owns 1,674 shares of the oil and natural gas company’s stock worth $46,000 after purchasing an additional 1,460 shares in the last quarter. 19.44% of the stock is owned by institutional investors.

About Continental Resources

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.

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