Continental Resources, Inc. (NYSE:CLR) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Continental Resources, Inc. (NYSE:CLR) from a hold rating to a sell rating in a research note published on Tuesday, July 11th.

According to Zacks, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations. “

A number of other equities analysts also recently weighed in on CLR. UBS AG started coverage on shares of Continental Resources in a report on Thursday, March 23rd. They set a neutral rating and a $49.00 target price on the stock. Scotiabank set a $62.00 price objective on shares of Continental Resources and gave the stock a buy rating in a research report on Monday, March 27th. Stifel Nicolaus reaffirmed a buy rating and set a $61.00 price objective on shares of Continental Resources in a research report on Wednesday, April 12th. Barclays PLC reaffirmed a buy rating and set a $53.00 price objective (down from $58.00) on shares of Continental Resources in a research report on Thursday, April 20th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $63.00 price objective on shares of Continental Resources in a research report on Tuesday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Continental Resources presently has a consensus rating of Buy and an average price target of $50.09.

Shares of Continental Resources (CLR) opened at 34.54 on Tuesday. The company’s 50 day moving average is $32.34 and its 200 day moving average is $40.27. Continental Resources has a 12-month low of $29.08 and a 12-month high of $60.30. The company’s market capitalization is $12.91 billion.

WARNING: This report was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://www.com-unik.info/2017/08/12/continental-resources-inc-nyseclr-downgraded-by-zacks-investment-research-updated-updated-updated.html.

In other news, CEO Harold Hamm acquired 36,452 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was acquired at an average price of $42.05 per share, with a total value of $1,532,806.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 76.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of Continental Resources by 5.0% in the first quarter. CWM LLC now owns 71,515 shares of the oil and natural gas company’s stock valued at $3,248,000 after buying an additional 3,408 shares during the last quarter. Viking Fund Management LLC increased its position in shares of Continental Resources by 9.8% in the first quarter. Viking Fund Management LLC now owns 280,000 shares of the oil and natural gas company’s stock valued at $12,718,000 after buying an additional 25,000 shares during the last quarter. Skylands Capital LLC increased its position in shares of Continental Resources by 414.3% in the first quarter. Skylands Capital LLC now owns 18,361 shares of the oil and natural gas company’s stock valued at $834,000 after buying an additional 14,791 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Continental Resources by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 30,134 shares of the oil and natural gas company’s stock valued at $1,368,000 after buying an additional 400 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its position in shares of Continental Resources by 230.8% in the first quarter. Sheets Smith Wealth Management now owns 43,000 shares of the oil and natural gas company’s stock valued at $1,953,000 after buying an additional 30,000 shares during the last quarter. 23.07% of the stock is owned by hedge funds and other 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.

Get a free copy of the Zacks research report on Continental Resources (CLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Continental Resources (NYSE:CLR)

What are top analysts saying about Continental Resources Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Continental Resources Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit