Continental Resources (CLR) Shares Down 5.5%

Continental Resources, Inc. (NYSE:CLR) shares dropped 5.5% during mid-day trading on Thursday . The company traded as low as $48.98 and last traded at $49.01. Approximately 3,654,159 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 2,182,428 shares. The stock had previously closed at $51.85.

CLR has been the topic of a number of analyst reports. TheStreet raised shares of Continental Resources from a “d+” rating to a “c” rating in a research report on Friday, November 17th. Royal Bank of Canada lifted their price objective on shares of Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, November 8th. Morgan Stanley lifted their price objective on shares of Continental Resources from $43.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Finally, Scotiabank cut their price objective on shares of Continental Resources from $12.50 to $11.50 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $53.56.

The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. The firm has a market cap of $18,430.00, a P/E ratio of -700.86 and a beta of 1.36.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $49.52, for a total transaction of $247,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark E. Monroe sold 20,000 shares of Continental Resources 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,874 shares of company stock valued at $2,603,673. Company insiders own 76.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC lifted its stake in Continental Resources by 1.5% during the 2nd quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock valued at $264,000 after acquiring an additional 118 shares during the period. Ameriprise Financial Inc. lifted its stake in Continental Resources by 1.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,941 shares of the oil and natural gas company’s stock valued at $1,277,000 after acquiring an additional 647 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Continental Resources by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock valued at $433,000 after acquiring an additional 920 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Continental Resources by 15.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,089 shares of the oil and natural gas company’s stock valued at $351,000 after acquiring an additional 1,216 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Continental Resources by 35.0% during 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 acquiring an additional 1,261 shares during the period. 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.

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