Continental Resources (CLR) Coverage Initiated at UBS Group

UBS Group assumed coverage on shares of Continental Resources (NYSE:CLR) in a research note published on Wednesday, www.benzinga.com reports. The brokerage issued a neutral rating and a $55.00 price target on the oil and natural gas company’s stock.

CLR has been the topic of several other reports. Barclays reissued an overweight rating and issued a $58.00 price target (up from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Credit Suisse Group assumed coverage on Continental Resources in a research note on Monday, December 11th. They issued an outperform rating and a $57.00 price target on the stock. Zacks Investment Research lowered Continental Resources from a buy rating to a hold rating in a research note on Monday, November 13th. Macquarie raised Continental Resources from a neutral rating to an outperform rating and boosted their price target for the company from $53.57 to $55.00 in a research note on Thursday, December 14th. Finally, B. Riley set a $70.00 price target on Continental Resources and gave the company a buy rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Continental Resources has a consensus rating of Buy and an average price target of $55.66.

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Continental Resources (CLR) opened at $51.85 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $19,454.95, a P/E ratio of 99.71 and a beta of 1.45. Continental Resources has a 12 month low of $29.08 and a 12 month high of $58.89.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.09. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $978.63 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The company’s revenue was up 90.5% compared to the same quarter last year. analysts predict that Continental Resources will post 2.35 EPS for the current year.

In related news, SVP Gary E. Gould sold 9,874 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $50.85, for a total transaction of $502,092.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total value of $958,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 156,909 shares of company stock valued at $7,846,156 and have sold 52,874 shares valued at $2,603,673. Corporate insiders own 76.87% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CLR. American International Group Inc. bought a new stake in Continental Resources during the fourth quarter worth $102,000. Exane Derivatives bought a new stake in Continental Resources during the fourth quarter worth $113,000. Toronto Dominion Bank grew its holdings in Continental Resources by 244.1% during the third quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 2,810 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Continental Resources by 126.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after buying an additional 1,900 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Continental Resources by 35.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after buying an additional 1,261 shares in the last quarter. Institutional investors and hedge funds own 22.25% 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.

Analyst Recommendations for Continental Resources (NYSE:CLR)

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