Continental Resources, Inc. (NYSE:CLR) – Capital One Financial issued their Q2 2018 EPS estimates for Continental Resources in a research note issued on Friday. Capital One Financial analyst P. Johnston forecasts that the oil and natural gas company will post earnings per share of $0.51 for the quarter. Capital One Financial also issued estimates for Continental Resources’ Q3 2018 earnings at $0.54 EPS and Q4 2018 earnings at $0.58 EPS.
Several other analysts have also weighed in on CLR. Morgan Stanley raised their price objective on shares of Continental Resources from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. Bank of America raised their price objective on shares of Continental Resources from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, November 8th. Imperial Capital raised shares of Continental Resources from an “in-line” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Thursday, November 9th. Finally, Royal Bank of Canada raised their price objective on shares of Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Nine 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 stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $55.79.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLR. Alyeska Investment Group L.P. acquired a new stake in Continental Resources during the 3rd quarter worth $52,973,000. JPMorgan Chase & Co. grew its holdings in Continental Resources by 101.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock worth $57,798,000 after acquiring an additional 748,025 shares during the period. State Street Corp grew its holdings 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 acquiring an additional 403,667 shares during the period. Bank of New York Mellon Corp grew its holdings in Continental Resources by 55.5% during the 4th quarter. Bank of New York Mellon Corp now owns 986,457 shares of the oil and natural gas company’s stock worth $52,253,000 after acquiring an additional 351,930 shares during the period. Finally, Element Capital Management LLC acquired a new stake in Continental Resources during the 4th quarter worth $17,509,000. 22.37% of the stock is owned by hedge funds and other institutional investors.
In other Continental Resources news, SVP Gary E. Gould sold 9,874 shares of Continental Resources stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $50.85, for a total transaction of $502,092.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark E. Monroe sold 20,000 shares of Continental Resources stock in a transaction on Wednesday, December 13th. The stock was 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. In the last three months, insiders sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is currently owned by company insiders.
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About Continental Resources
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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