Royal Bank of Canada set a $81.00 price objective on Continental Resources (NYSE:CLR) in a research note released on Thursday. The firm currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities analysts also recently issued reports on CLR. Zacks Investment Research downgraded shares of Continental Resources from a strong-buy rating to a hold rating in a report on Tuesday, June 26th. B. Riley lifted their price objective on shares of Continental Resources from $70.00 to $86.00 and gave the stock a buy rating in a report on Monday, June 11th. TD Securities assumed coverage on shares of Continental Resources in a report on Thursday, July 5th. They set a hold rating and a $73.00 price objective on the stock. Seaport Global Securities reaffirmed a neutral rating on shares of Continental Resources in a report on Wednesday, July 25th. Finally, UBS Group cut their price objective on shares of Continental Resources from $70.00 to $69.00 and set a neutral rating on the stock in a report on Thursday, July 26th. Twelve investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $70.09.
Shares of CLR stock opened at $62.23 on Thursday. The firm has a market cap of $23.40 billion, a price-to-earnings ratio of 122.02, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.89. Continental Resources has a 12 month low of $36.05 and a 12 month high of $69.91.
Several large investors have recently modified their holdings of CLR. Rockefeller Capital Management L.P. purchased a new position in shares of Continental Resources in the 1st quarter worth about $135,000. Credit Agricole S A boosted its holdings in shares of Continental Resources by 85.7% in the 1st quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 1,200 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Continental Resources by 4,924.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock worth $163,000 after buying an additional 2,462 shares during the last quarter. Asset Management Advisors LLC purchased a new position in shares of Continental Resources in the 2nd quarter worth about $201,000. Finally, Barings LLC purchased a new position in shares of Continental Resources in the 2nd quarter worth about $216,000. 22.53% of the stock is currently owned by institutional investors.
About Continental Resources
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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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