Published: Tue, June 21, 2016
Business | By Max Garcia

Analyst Price Target Update on Continental Resources (NYSE:CLR)


The rating by Credit Suisse was issued on Jun 6, 2016. CLR SVP, Exploration Brown Glen A also sold 15,000 shares, at a stock price of $40.62. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Continental Resources by 13.4% in the first quarter. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The stock was sold at an average price of $41.10, for a total value of $205,500.00. Following the transaction, the SVP, GC, CRO & Secretary is left with a stake of 173,136 shares, now valued at $7063949. The disclosure for this sale can be found here. (NYSE:CLR) was up +1.13% during the last day of trading, with a day high of 41.81. The shares closed down -2.35 points or -5.45% at $40.8 with 28,93,727 shares getting traded. The stock is now holding above its 50 day moving average of $8.18 and above its 200 day moving average of $40.39.

Analyst Coverage: Credit Suisse has been a brokerage house following shares of Continental Resources, Inc.

The 52 week high of Continental Resources, Inc.'s shares is 47.81 whilst the 52 week low for shares in the company is 13.94. The shares have been rated "Equal-weight" by the firm. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by $0.04. The business's revenue for the quarter was down 27.6% on a year-over-year basis. Analysts had estimated an EPS of $-0.37.

Other large investors recently made changes to their positions in the company. The company has a market cap of $15,283 M and the number of outstanding shares has been calculated to be 37,45,71,870 shares. Gradient Investments LLC now owns 9,046 shares of the company's stock worth $275,000 after buying an additional 8,326 shares in the last quarter. Continental Resources Inc. has been the topic of 54 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Caymus Capital Partners L.P., a Texas-based fund reported 1.29 million shares. Finally, Henderson Group PLC increased its stake in shares of Continental Resources by 1,493.2% in the fourth quarter. Henderson Group PLC now owns 69,145 shares of the company's stock worth $1,589,000 after buying an additional 64,805 shares during the last quarter.

CLR has been the subject of several other reports. RBC Capital assumed coverage on shares of Continental Resources in a research report on Friday, March 18th. Hart John D retains 320,211 shares in the company after this transaction. In a research report published on Tuesday, 14 June, Deutsche Bank maintained their "Buy" rating on shares of CLR. Nomura restated a "buy" rating and set a $50.00 target price (up previously from $25.00) on shares of Continental Resources in a report on Wednesday, May 25th. On May 5, 2016, Raymond James said it Upgrades its rating on Continental Resources.

05/06/2016 - Continental Resources, Inc. had its "buy" rating reiterated by analysts at Wunderlich. Also, SVP Steven K. Owen sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, May 10th.

03/30/2016 - Continental Resources, Inc. was upgraded to "buy" by analysts at Seaport Global Securities.

Vetr cut Continental Resources from a "buy" rating to a "hold" rating and set a $37.50 price target for the company.in a report on Tuesday, April 19th.

According to Zacks Investment Research, "CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States".

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