Goldman Sachs downgraded shares of Continental Resources (NYSE:CLR) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat reports.
CLR has been the topic of several other reports. Credit Suisse Group restated an outperform rating and set a $70.00 price objective (up from $65.00) on shares of Continental Resources in a research note on Tuesday, February 20th. Royal Bank of Canada restated a buy rating and set a $52.00 price objective on shares of Continental Resources in a research note on Wednesday, December 20th. Stifel Nicolaus restated a buy rating and set a $69.00 price objective (down from $71.00) on shares of Continental Resources in a research note on Friday, February 16th. ValuEngine cut Continental Resources from a hold rating to a sell rating in a research note on Thursday, March 1st. Finally, SunTrust Banks set a $75.00 price objective on Continental Resources and gave the stock a buy rating in a research note on Friday, March 16th. Nine analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Continental Resources has an average rating of Buy and a consensus price target of $57.48.
Continental Resources stock opened at $61.86 on Thursday. The company has a market cap of $22,884.42, a PE ratio of 121.29 and a beta of 1.27. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.87. Continental Resources has a 52 week low of $29.08 and a 52 week high of $62.67.
In other Continental Resources news, SVP Eric Spencer Eissenstat sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $56.02, for a total value of $560,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John D. Hart sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $53.13, for a total value of $796,950.00. The disclosure for this sale can be found here. Insiders acquired 156,909 shares of company stock worth $7,846,156 over the last quarter. 76.87% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of CLR. American International Group Inc. acquired a new position in shares of Continental Resources during the fourth quarter valued at $102,000. Exane Derivatives acquired a new position in shares of Continental Resources during the fourth quarter valued at $113,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Continental Resources by 126.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock valued at $180,000 after purchasing an additional 1,900 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of 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 purchasing an additional 1,261 shares during the period. Finally, Calton & Associates Inc. acquired a new position in shares of Continental Resources during the fourth quarter valued at $200,000. Institutional investors own 22.43% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Continental Resources (CLR) Lowered to Neutral at Goldman Sachs” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.chaffeybreeze.com/2018/04/16/continental-resources-clr-lowered-to-neutral-at-goldman-sachs.html.
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.
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.