HSBC Reaffirms Hold Rating for Continental Resources (CLR)

HSBC reissued their hold rating on shares of Continental Resources (NYSE:CLR) in a research note issued to investors on Friday morning.

A number of other research analysts have also weighed in on CLR. Zacks Investment Research lowered Continental Resources from a buy rating to a hold rating in a report on Tuesday, November 20th. Stifel Nicolaus restated a buy rating and issued a $70.00 target price on shares of Continental Resources in a report on Monday, November 26th. Cowen began coverage on Continental Resources in a report on Thursday. They issued a market perform rating on the stock. Cfra restated a hold rating on shares of Continental Resources in a report on Friday, November 9th. Finally, Goldman Sachs Group restated a buy rating on shares of Continental Resources in a report on Tuesday, November 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $71.48.

CLR stock opened at $45.72 on Friday. Continental Resources has a twelve month low of $43.53 and a twelve month high of $71.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. The company has a market capitalization of $17.19 billion, a PE ratio of 89.65, a P/E/G ratio of 1.18 and a beta of 1.46.

Continental Resources (NYSE:CLR) last posted its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 76.4% on a year-over-year basis. Equities research analysts anticipate that Continental Resources will post 3.15 EPS for the current fiscal year.

In related news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 76.83% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC bought a new stake in shares of Continental Resources in the third quarter valued at $310,000. Morgan Stanley raised its stake in shares of Continental Resources by 12.3% in the third quarter. Morgan Stanley now owns 1,695,983 shares of the oil and natural gas company’s stock valued at $115,802,000 after buying an additional 185,580 shares during the period. Legal & General Group Plc raised its stake in shares of Continental Resources by 1.8% in the third quarter. Legal & General Group Plc now owns 356,339 shares of the oil and natural gas company’s stock valued at $24,331,000 after buying an additional 6,432 shares during the period. Lombard Odier Asset Management USA Corp bought a new stake in shares of Continental Resources in the third quarter valued at $6,623,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Continental Resources in the third quarter valued at $1,448,000. Hedge funds and other institutional investors own 22.72% of the company’s stock.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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.

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Analyst Recommendations for Continental Resources (NYSE:CLR)

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