Continental Resources (CLR) Shares Gap Down to $38.62

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Continental Resources, Inc. (NYSE:CLR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $36.18, but opened at $38.62. Continental Resources shares last traded at $38.30, with a volume of 16727 shares trading hands.

Several research firms recently issued reports on CLR. TD Securities dropped their price objective on Continental Resources from $57.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, February 20th. KeyCorp initiated coverage on Continental Resources in a research note on Tuesday, February 12th. They set an “overweight” rating and a $52.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $64.00 price target on shares of Continental Resources in a research note on Wednesday, January 30th. Scotiabank reaffirmed a “buy” rating and set a $7.00 price target on shares of Continental Resources in a research note on Tuesday, March 12th. Finally, Morgan Stanley set a $60.00 price target on Continental Resources and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Seven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Continental Resources presently has a consensus rating of “Buy” and a consensus price target of $63.50.

The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 0.87. The company has a market cap of $16.26 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 0.93 and a beta of 1.45.

Continental Resources (NYSE:CLR) last released its earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Continental Resources had a return on equity of 16.71% and a net margin of 20.06%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.68 EPS. Continental Resources’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts anticipate that Continental Resources, Inc. will post 2.79 earnings per share for the current year.

In related news, CEO Harold Hamm bought 65,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was bought at an average price of $42.71 per share, with a total value of $2,776,150.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders bought 856,828 shares of company stock valued at $36,783,980. 77.03% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Rational Advisors LLC increased its holdings in Continental Resources by 207.8% during the 4th quarter. Rational Advisors LLC now owns 674 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 455 shares during the period. Private Capital Group LLC increased its holdings in Continental Resources by 333.3% during the 4th quarter. Private Capital Group LLC now owns 832 shares of the oil and natural gas company’s stock valued at $33,000 after purchasing an additional 640 shares during the period. Doyle Wealth Management purchased a new position in Continental Resources during the 4th quarter valued at about $42,000. Rockefeller Capital Management L.P. increased its holdings in Continental Resources by 172.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 941 shares of the oil and natural gas company’s stock valued at $42,000 after purchasing an additional 596 shares during the period. Finally, Legacy Advisors LLC purchased a new position in Continental Resources during the 1st quarter valued at about $45,000. Institutional investors own 20.35% of the company’s stock.

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About Continental Resources (NYSE:CLR)

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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