Latest Stocks: Barclays PLC Reiterates “Buy” Rating for Continental Resources, Inc. (CLR)

Latest Stocks: Barclays PLC Reiterates “Buy” Rating for Continental Resources, Inc. (CLR)

Continental Resources, Inc. (NYSE:CLR)‘s stock had its “buy” rating reiterated by analysts at Barclays PLC in a research note issued on Sunday, May 7th. They currently have a $54.00 price target on the oil and natural gas company’s stock. Barclays PLC’s target price indicates a potential upside of 49.67% from the company’s current price.

Several other brokerages have also recently commented on CLR. Stifel Nicolaus reiterated a “buy” rating and set a $61.00 price target on shares of Continental Resources in a research report on Wednesday, April 12th. Scotiabank restated a “buy” rating and set a $68.00 price objective on shares of Continental Resources in a report on Thursday, February 23rd. FBR & Co reduced their price target on shares of Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating for the company in a report on Monday, May 1st. Royal Bank of Canada reissued a “buy” rating and issued a $63.00 price objective on shares of Continental Resources in a research report on Tuesday, April 25th. Finally, KLR Group raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Continental Resources currently has an average rating of “Buy” and an average price target of $56.76.

Shares of Continental Resources (NYSE CLR) opened at 36.08 on Friday. The stock’s 50 day moving average price is $41.53 and its 200-day moving average price is $46.92. The firm’s market cap is $13.39 billion. Continental Resources has a 52-week low of $35.81 and a 52-week high of $60.30.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Continental Resources had a negative net margin of 28.27% and a negative return on equity of 8.69%. The firm had revenue of $685.43 million during the quarter, compared to the consensus estimate of $646.46 million. On average, equities research analysts anticipate that Continental Resources will post $0.42 earnings per share for the current fiscal year. In related news, CEO Harold Hamm acquired 41,998 shares of the company’s stock in a transaction on Friday, March 24th. The shares were acquired at an average cost of $42.37 per share, for a total transaction of $1,779,455.26. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John D. Hart sold 6,000 shares of Continental Resources stock in a transaction on Friday, March 17th. The stock was sold at an average price of $45.50, for a total value of $273,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 111,435 shares of company stock worth $4,727,318. Company insiders own 76.97% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of Continental Resources by 0.3% in the third quarter. California Public Employees Retirement System now owns 255,300 shares of the oil and natural gas company’s stock worth $13,265,000 after buying an additional 800 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Continental Resources by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,477 shares of the oil and natural gas company’s stock worth $700,000 after buying an additional 397 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Continental Resources by 7.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 331,275 shares of the oil and natural gas company’s stock worth $17,213,000 after buying an additional 22,769 shares during the last quarter. Synovus Financial Corp raised its position in Continental Resources by 61.7% in the third quarter. Synovus Financial Corp now owns 4,666 shares of the oil and natural gas company’s stock worth $242,000 after buying an additional 1,781 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Continental Resources by 19.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,918 shares of the oil and natural gas company’s stock worth $1,984,000 after buying an additional 1,956 shares during the last quarter. Institutional investors own 23.17% of the company’s stock. About Continental Resources

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