Continental Resources, Inc. (CLR) Rating Reiterated by Scotiabank

Continental Resources, Inc. (NYSE:CLR)‘s stock had its “buy” rating restated by stock analysts at Scotiabank in a research note issued to investors on Friday, June 30th. They currently have a $52.00 price target on the oil and natural gas company’s stock. Scotiabank’s target price indicates a potential upside of 55.13% from the company’s current price.

Several other analysts have also issued reports on CLR. Deutsche Bank AG lowered their price target on shares of Continental Resources from $64.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, March 7th. BMO Capital Markets lowered their price target on shares of Continental Resources from $13.00 to $11.50 in a research report on Thursday, March 9th. UBS AG initiated coverage on shares of Continental Resources in a research report on Thursday, March 23rd. They issued a “neutral” rating and a $49.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $61.00 price target on shares of Continental Resources in a research report on Wednesday, April 12th. Finally, Barclays PLC reissued a “buy” rating and issued a $53.00 price target (down previously from $58.00) on shares of Continental Resources in a research report on Thursday, April 20th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $50.54.

Shares of Continental Resources (NYSE CLR) traded down 0.71% on Friday, hitting $33.52. 3,062,731 shares of the stock traded hands. Continental Resources has a 52 week low of $29.08 and a 52 week high of $60.30. The stock’s market cap is $12.58 billion. The stock has a 50 day moving average price of $32.30 and a 200-day moving average price of $41.47.

Continental Resources (NYSE:CLR) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%. The company had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million. On average, equities research analysts forecast that Continental Resources will post $0.10 EPS for the current year.

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In other Continental Resources news, CEO Harold Hamm acquired 36,452 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was bought at an average price of $42.05 per share, with a total value of $1,532,806.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 76.97% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CLR. US Bancorp DE boosted its stake in shares of Continental Resources by 65.2% in the first quarter. US Bancorp DE now owns 52,162 shares of the oil and natural gas company’s stock worth $2,370,000 after buying an additional 20,588 shares during the period. Bank of America Corp DE boosted its stake in shares of 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 valued at $158,879,000 after buying an additional 1,623,470 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Continental Resources by 10.6% in the first quarter. UBS Asset Management Americas Inc. now owns 231,214 shares of the oil and natural gas company’s stock valued at $10,502,000 after buying an additional 22,201 shares during the last quarter. Impala Asset Management LLC boosted its stake in shares of Continental Resources by 68.3% in the first quarter. Impala Asset Management LLC now owns 312,366 shares of the oil and natural gas company’s stock valued at $14,188,000 after buying an additional 126,724 shares during the last quarter. Finally, Capital Impact Advisors LLC boosted its stake in shares of Continental Resources by 45.2% in the first quarter. Capital Impact Advisors LLC now owns 21,539 shares of the oil and natural gas company’s stock valued at $978,000 after buying an additional 6,705 shares during the last quarter. 23.10% of the stock is owned by institutional investors.

Continental Resources Company Profile

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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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