Continental Resources (CLR) PT Set at $78.00 by B. Riley

Continental Resources (NYSE:CLR) has been given a $78.00 target price by equities research analysts at B. Riley in a research note issued on Friday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. B. Riley’s target price indicates a potential upside of 46.26% from the stock’s current price. B. Riley also issued estimates for Continental Resources’ Q2 2018 earnings at $0.62 EPS.

A number of other equities research analysts also recently commented on the company. Barclays reissued an “overweight” rating and issued a $58.00 target price (up previously from $53.00) on shares of Continental Resources in a report on Thursday, January 11th. Scotiabank reduced their target price on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, November 10th. Macquarie raised Continental Resources from a “neutral” rating to an “outperform” rating and raised their target price for the company from $53.57 to $55.00 in a report on Thursday, December 14th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Wednesday, November 8th. Finally, Credit Suisse Group started coverage on Continental Resources in a report on Monday, December 11th. They issued an “outperform” rating and a $57.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Continental Resources presently has a consensus rating of “Buy” and an average target price of $55.79.

Shares of Continental Resources (NYSE CLR) opened at $53.33 on Friday. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $58.89. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market capitalization of $20,009.90, a price-to-earnings ratio of 1,333.25 and a beta of 1.36.

In related news, CFO John D. Hart sold 6,000 shares of Continental Resources stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $51.23, for a total transaction of $307,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark E. Monroe sold 20,000 shares of Continental Resources stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total value of $958,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Continental Resources by 1.4% during the 4th quarter. BlackRock Inc. now owns 4,754,734 shares of the oil and natural gas company’s stock worth $251,860,000 after purchasing an additional 64,943 shares in the last quarter. State Street Corp increased its position in Continental Resources by 14.4% during the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock worth $103,474,000 after purchasing an additional 403,667 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Continental Resources by 1.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 2,920,011 shares of the oil and natural gas company’s stock worth $154,673,000 after purchasing an additional 43,649 shares in the last quarter. Teachers Advisors LLC increased its position in Continental Resources by 3.4% during the 4th quarter. Teachers Advisors LLC now owns 1,978,228 shares of the oil and natural gas company’s stock worth $104,787,000 after purchasing an additional 65,229 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Continental Resources by 1.5% during the 4th quarter. Jennison Associates LLC now owns 1,631,882 shares of the oil and natural gas company’s stock worth $86,441,000 after purchasing an additional 24,848 shares in the last quarter. Hedge funds and other institutional investors own 22.57% 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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