Continental Resources (CLR) Upgraded by Robert W. Baird to Outperform

Robert W. Baird upgraded shares of Continental Resources (NYSE:CLR) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat reports. The brokerage currently has $54.00 price objective on the oil and natural gas company’s stock, up from their previous price objective of $46.00.

CLR has been the subject of several other research reports. Credit Suisse Group assumed coverage on shares of Continental Resources in a report on Monday, December 11th. They set an outperform rating and a $57.00 price objective for the company. Zacks Investment Research downgraded shares of Continental Resources from a buy rating to a hold rating in a report on Monday, November 13th. Macquarie raised shares of Continental Resources from a neutral rating to an outperform rating and increased their price objective for the company from $53.57 to $55.00 in a report on Thursday, December 14th. KeyCorp reissued a hold rating on shares of Continental Resources in a report on Monday, November 13th. Finally, Royal Bank of Canada increased their price objective on shares of Continental Resources from $48.00 to $51.00 and gave the company an outperform rating in a report on Thursday, November 9th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $47.65.

Continental Resources (NYSE CLR) opened at $51.25 on Monday. Continental Resources has a 1-year low of $29.08 and a 1-year high of $53.57. The company has a market cap of $18,614.11, a PE ratio of 1,240.25 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.

Continental Resources (NYSE:CLR) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The business had revenue of $726.74 million during the quarter, compared to the consensus estimate of $710.77 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The business’s revenue was up 38.1% on a year-over-year basis. equities research analysts forecast that Continental Resources will post 0.31 earnings per share for the current fiscal year.

In other news, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which is available through this link. 76.87% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in Continental Resources by 1.5% in the 2nd quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock worth $264,000 after purchasing an additional 118 shares during the period. Oppenheimer Asset Management Inc. raised its position in Continental Resources by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock worth $255,000 after purchasing an additional 146 shares during the period. Utah Retirement Systems raised its position in Continental Resources by 1.3% in the 2nd quarter. Utah Retirement Systems now owns 16,004 shares of the oil and natural gas company’s stock worth $517,000 after purchasing an additional 200 shares during the period. Aviva PLC raised its position in Continental Resources by 0.5% in the 2nd quarter. Aviva PLC now owns 56,252 shares of the oil and natural gas company’s stock worth $1,819,000 after purchasing an additional 300 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Continental Resources by 1.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock worth $1,277,000 after purchasing an additional 647 shares during the period. Hedge funds and other institutional investors 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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