Continental Resources (CLR) PT Set at $57.00 by Jefferies Group

Continental Resources (NYSE:CLR) has been given a $57.00 target price by Jefferies Group in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s price objective points to a potential upside of 11.22% from the company’s current price.

A number of other research firms have also weighed in on CLR. ValuEngine raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Robert W. Baird raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $46.00 to $54.00 in a research note on Monday. Seaport Global Securities raised shares of Continental Resources from a “sell” rating to a “neutral” rating in a research note on Tuesday. Credit Suisse Group began coverage on shares of Continental Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $57.00 target price on the stock. Finally, Macquarie raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $53.57 to $55.00 in a research note on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $47.65.

Continental Resources (NYSE CLR) opened at $51.25 on Wednesday. The firm has a market cap of $18,141.35, a PE ratio of 1,208.75 and a beta of 1.44. Continental Resources has a 12 month low of $29.08 and a 12 month high of $53.57. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05. The firm had revenue of $726.74 million for the quarter, compared to analyst estimates of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. Continental Resources’s quarterly revenue was up 38.1% compared to the same quarter last year. During the same period last year, the company posted ($0.22) EPS. equities analysts anticipate that Continental Resources will post 0.3 earnings per share for the current fiscal year.

In other news, Director Mark E. Monroe sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total transaction of $958,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 76.87% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CLR. Tortoise Capital Advisors L.L.C. increased its holdings in Continental Resources by 21.2% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 290,797 shares of the oil and natural gas company’s stock valued at $11,228,000 after purchasing an additional 50,793 shares during the last quarter. GeoSphere Capital Management increased its holdings in Continental Resources by 20.0% in the 3rd quarter. GeoSphere Capital Management now owns 60,000 shares of the oil and natural gas company’s stock valued at $2,317,000 after purchasing an additional 10,000 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Continental Resources in the 3rd quarter valued at approximately $304,000. California Public Employees Retirement System increased its holdings in Continental Resources by 0.7% in the 3rd quarter. California Public Employees Retirement System now owns 234,268 shares of the oil and natural gas company’s stock valued at $9,045,000 after purchasing an additional 1,568 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in Continental Resources by 35.0% in the 3rd 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 last quarter. Institutional investors and hedge funds own 22.54% of the company’s stock.

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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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