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

Continental Resources (NYSE:CLR) had its price objective decreased by Barclays from $58.00 to $56.00 in a research note published on Thursday, Stock Target Advisor reports. Barclays currently has an overweight rating on the oil and natural gas company’s stock.

A number of other equities research analysts also recently weighed in on CLR. Piper Jaffray Companies set a $49.00 price target on shares of Continental Resources and gave the stock a buy rating in a research note on Friday, August 16th. MKM Partners decreased their price target on shares of Continental Resources from $50.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Credit Suisse Group downgraded shares of Continental Resources from an outperform rating to a neutral rating and decreased their price target for the stock from $42.00 to $34.00 in a research note on Friday, October 4th. Wells Fargo & Co decreased their price target on shares of Continental Resources from $55.00 to $53.00 and set an outperform rating on the stock in a research note on Monday, August 12th. Finally, Mizuho downgraded shares of Continental Resources from a buy rating to a neutral rating and set a $38.00 price target on the stock. in a research note on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $49.50.

Shares of Continental Resources stock traded down $0.28 during midday trading on Thursday, hitting $32.72. The company had a trading volume of 2,382,858 shares, compared to its average volume of 2,656,191. The business’s 50 day simple moving average is $29.82 and its two-hundred day simple moving average is $35.48. The stock has a market cap of $12.02 billion, a PE ratio of 11.52, a P/E/G ratio of 1.34 and a beta of 1.68. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.81. Continental Resources has a 1-year low of $27.26 and a 1-year high of $52.03.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.10. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Continental Resources had a net margin of 17.00% and a return on equity of 12.49%. Continental Resources’s quarterly revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.90 earnings per share. On average, sell-side analysts expect that Continental Resources will post 2.13 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Flinton Capital Management LLC acquired a new stake in shares of Continental Resources in the 2nd quarter valued at $66,000. Denali Advisors LLC boosted its stake in shares of Continental Resources by 48.3% in the 3rd quarter. Denali Advisors LLC now owns 59,300 shares of the oil and natural gas company’s stock valued at $1,826,000 after purchasing an additional 19,300 shares in the last quarter. Dupont Capital Management Corp boosted its stake in shares of Continental Resources by 13.4% in the 2nd quarter. Dupont Capital Management Corp now owns 33,779 shares of the oil and natural gas company’s stock valued at $1,422,000 after purchasing an additional 3,979 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Continental Resources by 3.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,864 shares of the oil and natural gas company’s stock valued at $541,000 after buying an additional 430 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Continental Resources in the second quarter valued at about $68,000. Institutional investors own 19.44% of the company’s stock.

Continental Resources Company Profile

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.

Further Reading: If I purchase shares through a brokerage account, am I the holder of record?

Analyst Recommendations for Continental Resources (NYSE:CLR)

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.