TD Securities Trims Continental Resources (NYSE:CLR) Target Price to $45.00

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Continental Resources (NYSE:CLR) had its price target reduced by analysts at TD Securities from $46.00 to $45.00 in a report released on Thursday, October 31st, BayStreet.CA reports. The firm currently has a “buy” rating on the oil and natural gas company’s stock. TD Securities’ target price points to a potential upside of 37.53% from the company’s current price.

CLR has been the topic of several other reports. KeyCorp decreased their price target on shares of Continental Resources from $47.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. BMO Capital Markets cut shares of Continental Resources from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Thursday, July 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $52.00 price target on shares of Continental Resources in a research note on Thursday, August 8th. Piper Jaffray Companies set a $49.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Credit Suisse Group lowered shares of Continental Resources from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $42.00 to $34.00 in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Continental Resources currently has a consensus rating of “Buy” and a consensus target price of $49.50.

NYSE CLR traded down $0.28 during trading hours on Thursday, reaching $32.72. The company’s stock had a trading volume of 2,382,858 shares, compared to its average volume of 2,656,191. The stock has a market cap of $12.02 billion, a PE ratio of 11.52, a PEG ratio of 1.34 and a beta of 1.68. Continental Resources has a fifty-two week low of $27.26 and a fifty-two week high of $52.03. The company’s 50-day moving average is $29.82 and its two-hundred day moving average is $35.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.81 and a current ratio of 0.89.

Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.10. Continental Resources had a net margin of 17.00% and a return on equity of 12.49%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. Equities analysts expect that Continental Resources will post 2.13 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Continental Resources by 1.9% during the second quarter. Vanguard Group Inc. now owns 8,814,384 shares of the oil and natural gas company’s stock valued at $370,998,000 after purchasing an additional 168,057 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Continental Resources by 6.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,462,357 shares of the oil and natural gas company’s stock valued at $356,181,000 after purchasing an additional 512,106 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Continental Resources by 42.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 3,354,794 shares of the oil and natural gas company’s stock valued at $141,203,000 after purchasing an additional 1,000,030 shares during the period. Worldquant Millennium Advisors LLC grew its position in shares of Continental Resources by 190.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,019,207 shares of the oil and natural gas company’s stock worth $42,898,000 after buying an additional 668,830 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Continental Resources by 1.5% during the second quarter. Northern Trust Corp now owns 836,129 shares of the oil and natural gas company’s stock worth $35,194,000 after buying an additional 12,101 shares in the last quarter. Hedge funds and other institutional investors own 19.44% of the company’s stock.

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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