Continental Resources (NYSE:CLR) has been assigned a $66.00 price target by analysts at Stifel Nicolaus in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 2.58% from the stock’s current price.
CLR has been the subject of several other research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $70.00 price objective (up previously from $65.00) on shares of Continental Resources in a research report on Tuesday, February 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Continental Resources in a research report on Friday, April 13th. ValuEngine downgraded shares of Continental Resources from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. SunTrust Banks set a $75.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research report on Friday, March 16th. Finally, Morgan Stanley increased their target price on Continental Resources from $56.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $58.91.
Shares of NYSE:CLR opened at $64.34 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.87. Continental Resources has a 52-week low of $29.08 and a 52-week high of $66.01. The company has a market capitalization of $23,950.03, a price-to-earnings ratio of 126.16 and a beta of 1.26.
In related news, CFO John D. Hart sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $53.13, for a total transaction of $796,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Harold Hamm acquired 31,995 shares of Continental Resources stock in a transaction that occurred on Friday, March 2nd. The shares were purchased at an average price of $48.74 per share, for a total transaction of $1,559,436.30. The disclosure for this purchase can be found here. Insiders have purchased 156,909 shares of company stock worth $7,846,156 over the last 90 days. 76.83% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CLR. Bank of New York Mellon Corp lifted its stake in Continental Resources by 55.5% during the fourth 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 purchasing an additional 351,930 shares during the last quarter. Element Capital Management LLC bought a new stake in Continental Resources in the fourth quarter valued at $17,509,000. Precocity Capital LP bought a new stake in Continental Resources in the fourth quarter valued at $13,243,000. Anchor Bolt Capital LP bought a new stake in Continental Resources in the fourth quarter valued at $13,093,000. Finally, Arosa Capital Management LP lifted its stake in Continental Resources by 107.8% in the fourth quarter. Arosa Capital Management LP now owns 396,034 shares of the oil and natural gas company’s stock valued at $20,978,000 after buying an additional 205,484 shares during the last quarter. Hedge funds and other institutional investors own 22.46% 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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