Credit Suisse Group Reiterates “$78.00” Price Target for Continental Resources (NYSE:CLR)

Continental Resources (NYSE:CLRGet Rating) received a $78.00 price target from analysts at Credit Suisse Group in a report issued on Monday, Stock Target Advisor reports. Credit Suisse Group’s target price suggests a potential upside of 18.49% from the company’s current price.

A number of other brokerages have also recently commented on CLR. Morgan Stanley reduced their price objective on Continental Resources from $70.00 to $69.00 and set an “underweight” rating on the stock in a research note on Monday, June 6th. Piper Sandler cut their price target on Continental Resources to $76.00 and set a “na” rating on the stock in a research note on Wednesday, May 18th. Susquehanna Bancshares boosted their price target on Continental Resources from $61.00 to $66.00 in a research note on Monday, April 25th. Mizuho boosted their price target on Continental Resources from $59.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 31st. Finally, Wells Fargo & Company cut Continental Resources from an “overweight” rating to an “equal weight” rating and set a $82.00 price target on the stock. in a research note on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.85.

CLR stock traded down $3.67 during trading on Monday, reaching $65.83. 197,753 shares of the stock traded hands, compared to its average volume of 2,006,948. The business’s 50 day moving average price is $63.34 and its 200-day moving average price is $56.90. Continental Resources has a 52-week low of $31.40 and a 52-week high of $75.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.88. The firm has a market capitalization of $23.89 billion, a PE ratio of 11.99, a P/E/G ratio of 0.15 and a beta of 2.75.

Continental Resources (NYSE:CLRGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The oil and natural gas company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Continental Resources had a return on equity of 31.43% and a net margin of 31.63%. The firm’s quarterly revenue was up 49.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, equities research analysts predict that Continental Resources will post 12.19 earnings per share for the current year.

In other news, President Jack H. Stark sold 25,000 shares of the stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $63.68, for a total transaction of $1,592,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 58.57% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Symmetry Partners LLC lifted its holdings in shares of Continental Resources by 9.0% in the fourth quarter. Symmetry Partners LLC now owns 26,136 shares of the oil and natural gas company’s stock valued at $1,170,000 after purchasing an additional 2,157 shares in the last quarter. UBS Group AG lifted its holdings in shares of Continental Resources by 13.2% in the third quarter. UBS Group AG now owns 301,882 shares of the oil and natural gas company’s stock valued at $13,932,000 after purchasing an additional 35,242 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Continental Resources by 916.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 61,828 shares of the oil and natural gas company’s stock valued at $2,767,000 after purchasing an additional 55,745 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Continental Resources in the third quarter valued at $272,000. Finally, LSV Asset Management lifted its holdings in shares of Continental Resources by 46.2% in the fourth quarter. LSV Asset Management now owns 70,600 shares of the oil and natural gas company’s stock valued at $3,160,000 after purchasing an additional 22,300 shares in the last quarter. Institutional investors own 13.41% of the company’s stock.

About Continental Resources (Get Rating)

Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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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