Cowen Initiates Coverage on Continental Resources (CLR)

Cowen started coverage on shares of Continental Resources (NYSE:CLR) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “market perform” rating on the oil and natural gas company’s stock.

Several other analysts also recently commented on CLR. Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Stifel Nicolaus restated a “buy” rating and set a $70.00 target price on shares of Continental Resources in a report on Monday. Cfra restated a “hold” rating on shares of Continental Resources in a report on Friday, November 9th. Barclays dropped their target price on shares of Continental Resources from $74.00 to $71.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Continental Resources in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $71.48.

CLR stock traded up $1.19 during mid-day trading on Thursday, hitting $46.36. 3,532,104 shares of the company were exchanged, compared to its average volume of 2,211,696. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. The company has a market capitalization of $16.82 billion, a P/E ratio of 90.90, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. Continental Resources has a 1-year low of $43.53 and a 1-year high of $71.95.

Continental Resources (NYSE:CLR) last announced its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The business’s quarterly revenue was up 76.4% on a year-over-year basis. During the same period last year, the company posted $0.09 EPS. Analysts forecast that Continental Resources will post 3.17 earnings per share for the current year.

In other news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 76.83% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Focused Wealth Management Inc bought a new position in shares of Continental Resources in the third quarter valued at $171,000. Moneta Group Investment Advisors LLC grew its stake in shares of Continental Resources by 4,924.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock valued at $163,000 after buying an additional 2,462 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Continental Resources in the third quarter valued at $205,000. Asset Management Advisors LLC bought a new position in shares of Continental Resources in the second quarter valued at $201,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in shares of Continental Resources in the third quarter valued at $212,000. 22.72% of the stock is owned by institutional investors and hedge funds.

Continental Resources Company Profile

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.

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Analyst Recommendations for Continental Resources (NYSE:CLR)

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