Stifel Nicolaus reissued their buy rating on shares of Continental Resources (NYSE:CLR) in a research note issued to investors on Friday, February 16th, Marketbeat Ratings reports. Stifel Nicolaus currently has a $69.00 target price on the oil and natural gas company’s stock, down from their previous target price of $71.00.
CLR has been the topic of several other research reports. Barclays reaffirmed an overweight rating and issued a $58.00 price objective (up previously from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Tudor Pickering cut shares of Continental Resources from a buy rating to a hold rating in a research note on Thursday, January 18th. Morgan Stanley lifted their price objective on shares of Continental Resources from $56.00 to $70.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. UBS Group cut shares of Continental Resources from a positive rating to a neutral rating in a research note on Wednesday, January 17th. Finally, Susquehanna Bancshares reaffirmed a neutral rating and issued a $61.00 price objective on shares of Continental Resources in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $55.66.
Continental Resources (CLR) traded up $0.92 during trading on Friday, reaching $52.72. 2,464,177 shares of the company’s stock traded hands, compared to its average volume of 2,890,000. The firm has a market cap of $19,780.00, a PE ratio of 277.47 and a beta of 1.45. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94. Continental Resources has a 52-week low of $29.08 and a 52-week high of $58.89.
In related news, CEO Harold Hamm purchased 31,995 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average cost of $48.74 per share, for a total transaction of $1,559,436.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gary E. Gould sold 9,874 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total transaction of $502,092.90. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 156,909 shares of company stock valued at $7,846,156 and sold 32,874 shares valued at $1,645,673. Company insiders own 76.87% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY boosted its holdings in shares of Continental Resources by 22.5% during the third quarter. Miller Howard Investments Inc. NY now owns 22,097 shares of the oil and natural gas company’s stock worth $853,000 after purchasing an additional 4,060 shares during the period. Mackenzie Financial Corp acquired a new stake in Continental Resources in the third quarter valued at approximately $1,313,000. Boothbay Fund Management LLC acquired a new stake in Continental Resources in the third quarter valued at approximately $266,000. Wells Fargo & Company MN lifted its stake in Continental Resources by 40.5% in the third quarter. Wells Fargo & Company MN now owns 568,536 shares of the oil and natural gas company’s stock valued at $21,951,000 after acquiring an additional 163,935 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in Continental Resources in the fourth quarter valued at approximately $274,000. Institutional investors and hedge funds own 22.42% of the company’s stock.
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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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