KeyCorp Reiterates “Hold” Rating for Continental Resources, Inc. (CLR)

Continental Resources, Inc. (NYSE:CLR)‘s stock had its “hold” rating reaffirmed by analysts at KeyCorp in a research report issued to clients and investors on Monday. KeyCorp also issued estimates for Continental Resources’ Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.32 EPS and FY2018 earnings at $0.91 EPS.

Several other analysts also recently weighed in on CLR. Cowen and Company set a $35.00 target price on shares of Continental Resources and gave the company a “hold” rating in a report on Tuesday, July 18th. Royal Bank Of Canada reissued a “buy” rating and issued a $46.00 price target on shares of Continental Resources in a research report on Thursday, July 20th. Citigroup Inc. decreased their price target on shares of Continental Resources from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, July 21st. BidaskClub cut shares of Continental Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.35.

Shares of Continental Resources (CLR) opened at $44.57 on Monday. Continental Resources has a 1-year low of $29.08 and a 1-year high of $60.30. 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 firm has a market cap of $17,195.82, a P/E ratio of 1,145.75 and a beta of 1.40.

Continental Resources (NYSE:CLR) last posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The firm had revenue of $726.74 million during the quarter, compared to the consensus estimate of $710.77 million. During the same quarter last year, the firm earned ($0.22) EPS. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. equities analysts expect that Continental Resources will post 0.24 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of CLR. Renaissance Technologies LLC increased its stake in Continental Resources by 474.8% in the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after purchasing an additional 2,389,400 shares during the period. FMR LLC increased its stake in Continental Resources by 16.5% in the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock valued at $427,027,000 after purchasing an additional 1,875,103 shares during the period. Vanguard Group Inc. increased its stake in Continental Resources by 26.4% in the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after purchasing an additional 1,703,303 shares during the period. Balyasny Asset Management LLC increased its stake in Continental Resources by 208.2% in the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock valued at $77,106,000 after purchasing an additional 1,611,003 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Continental Resources in the third quarter valued at $52,973,000. Institutional investors own 23.27% of the company’s stock.

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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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