Continental Resources (NYSE:CLR) PT Raised to $16.00 at UBS Group

Continental Resources (NYSE:CLR) had its target price hoisted by UBS Group from $7.00 to $16.00 in a report released on Monday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the oil and natural gas company’s stock.

CLR has been the topic of a number of other research reports. Imperial Capital upped their target price on Continental Resources from $14.00 to $18.00 and gave the company an in-line rating in a research report on Tuesday, June 23rd. Credit Suisse Group restated a hold rating and issued a $9.00 price objective on shares of Continental Resources in a research report on Wednesday, April 8th. Raymond James lowered Continental Resources from an outperform rating to a market perform rating in a research report on Tuesday, March 17th. Mizuho upped their price objective on Continental Resources from $8.00 to $15.00 in a research report on Friday, June 19th. Finally, Wells Fargo & Co upped their target price on Continental Resources from $16.00 to $18.00 and gave the stock an equal weight rating in a research note on Thursday, June 25th. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $21.64.

CLR opened at $18.30 on Monday. Continental Resources has a 52-week low of $6.90 and a 52-week high of $42.57. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.88. The company has a market cap of $6.73 billion, a P/E ratio of 16.94 and a beta of 3.46. The firm’s 50-day moving average price is $15.46 and its 200-day moving average price is $19.93.

Continental Resources (NYSE:CLR) last issued its earnings results on Monday, May 11th. The oil and natural gas company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.05). The firm had revenue of $880.80 million during the quarter, compared to analysts’ expectations of $843.57 million. Continental Resources had a net margin of 9.18% and a return on equity of 8.60%. Continental Resources’s quarterly revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. On average, research analysts anticipate that Continental Resources will post -1.4 EPS for the current fiscal year.

In related news, Chairman Harold Hamm bought 1,300,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was acquired at an average cost of $16.01 per share, with a total value of $20,813,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy Garth Taylor bought 7,265 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $13.64 per share, with a total value of $99,094.60. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 4,633,367 shares of company stock valued at $76,473,065. 79.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new stake in shares of Continental Resources in the 4th quarter worth $4,768,000. Banque Cantonale Vaudoise acquired a new stake in shares of Continental Resources in the 4th quarter worth $85,000. PNC Financial Services Group Inc. grew its holdings in shares of Continental Resources by 80.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,909 shares of the oil and natural gas company’s stock worth $38,000 after purchasing an additional 2,182 shares during the period. ProShare Advisors LLC purchased a new position in shares of Continental Resources during the 4th quarter worth $204,000. Finally, Pearl River Capital LLC grew its holdings in shares of Continental Resources by 3,182.2% during the 4th quarter. Pearl River Capital LLC now owns 6,991 shares of the oil and natural gas company’s stock worth $240,000 after purchasing an additional 6,778 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.

About Continental Resources

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