Continental Resources (CLR) Upgraded at TD Securities

Share on StockTwits

Continental Resources (NYSE:CLR) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $70.00 price target on the oil and natural gas company’s stock, down from their previous price target of $74.00. TD Securities’ price objective would indicate a potential upside of 32.88% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Morgan Stanley boosted their price objective on Continental Resources from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. Scotiabank restated a “buy” rating and set a $78.00 price target on shares of Continental Resources in a research note on Thursday, September 27th. BMO Capital Markets cut Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 9th. They noted that the move was a valuation call. Barclays assumed coverage on Continental Resources in a research note on Wednesday, August 29th. They set an “overweight” rating and a $77.00 price target for the company. Finally, Royal Bank of Canada set a $81.00 price target on Continental Resources and gave the stock a “buy” rating in a research note on Thursday, September 20th. Ten research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $72.30.

Shares of NYSE CLR opened at $52.68 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.92 and a quick ratio of 0.89. Continental Resources has a twelve month low of $39.95 and a twelve month high of $71.95. The company has a market capitalization of $19.82 billion, a price-to-earnings ratio of 103.29, a PEG ratio of 1.30 and a beta of 1.24.

Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 76.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Continental Resources will post 3.22 earnings per share for the current year.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total value of $335,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 76.83% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CLR. Worldquant Millennium Quantitative Strategies LLC acquired a new stake in Continental Resources in the second quarter valued at $29,364,000. Bank of America Corp DE grew its holdings in Continental Resources by 20.3% in the second quarter. Bank of America Corp DE now owns 1,345,658 shares of the oil and natural gas company’s stock valued at $87,146,000 after purchasing an additional 226,626 shares during the last quarter. BlackRock Inc. grew its holdings in Continental Resources by 5.6% in the second quarter. BlackRock Inc. now owns 4,829,027 shares of the oil and natural gas company’s stock valued at $312,729,000 after purchasing an additional 256,614 shares during the last quarter. Castleark Management LLC grew its holdings in Continental Resources by 1.0% in the second quarter. Castleark Management LLC now owns 614,896 shares of the oil and natural gas company’s stock valued at $39,821,000 after purchasing an additional 5,871 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in Continental Resources by 300.4% in the second quarter. Teacher Retirement System of Texas now owns 83,115 shares of the oil and natural gas company’s stock valued at $5,383,000 after purchasing an additional 62,358 shares during the last quarter. Hedge funds and other institutional investors own 22.49% of the company’s stock.

About Continental Resources

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

Recommended Story: Day Trading

Analyst Recommendations for Continental Resources (NYSE:CLR)

Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply