The stock of Continental Resources, Inc. (NYSE:CLR) hit a new 52-week high and has $63.42 target or 8.00% above today’s $58.72 share price. The 8 months bullish chart indicates low risk for the $27.02 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $63.42 price target is reached, the company will be worth $2.16B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 727,379 shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 52.82% since April 28, 2016 and is uptrending. It has outperformed by 46.89% the S&P500.
Analysts await Continental Resources, Inc. (NYSE:CLR) to report earnings on February, 22. They expect $-0.10 EPS, up 56.52% or $0.13 from last year’s $-0.23 per share. After $-0.22 actual EPS reported by Continental Resources, Inc. for the previous quarter, Wall Street now forecasts -54.55% EPS growth.
Continental Resources, Inc. (NYSE:CLR) Ratings Coverage
Out of 28 analysts covering Continental Resources Inc. (NYSE:CLR), 19 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 68% are positive. $60 is the highest target while $14 is the lowest. The $40.50 average target is -31.03% below today’s ($58.72) stock price. Continental Resources Inc. has been the topic of 67 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Buy” rating by Tudor Pickering on Friday, January 15. Bank of America downgraded it to “Neutral” rating and $44 target price in Monday, August 24 report. Scotia Capital upgraded Continental Resources, Inc. (NYSE:CLR) on Saturday, August 15 to “Sector Perform” rating. The company was maintained on Thursday, August 25 by Nomura. Howard Weil upgraded the stock to “Sector Outperform” rating in Friday, August 14 report. As per Monday, October 31, the company rating was initiated by Citigroup. The stock of Continental Resources, Inc. (NYSE:CLR) has “Buy” rating given on Thursday, January 21 by Nomura. The rating was reinitiated by RBC Capital Markets with “Outperform” on Friday, March 18. The stock has “Equal-Weight” rating given by Barclays Capital on Monday, November 9. Wunderlich maintained Continental Resources, Inc. (NYSE:CLR) rating on Friday, August 19. Wunderlich has “Buy” rating and $59 price target.
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. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations.”
Insitutional Activity: The institutional sentiment is 1.08 in 2016 Q2. Its the same as in 2016Q1. The ratio has no change, as 43 funds sold all Continental Resources, Inc. shares owned while 105 reduced positions. only 61 funds bought stakes while 99 increased positions. They now own 86.18 million shares or 0.46% less from 86.58 million shares in 2016Q1.
Renaissance Technologies Llc holds 130,800 shares or 0.01% of its portfolio. Obermeyer Wood Investment Counsel Lllp owns 5,855 shares or 0.03% of their US portfolio. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Continental Resources, Inc. (NYSE:CLR) for 5,694 shares. Millennium Ltd Liability Corp owns 165,028 shares or 0.02% of their US portfolio. Winfield Associate holds 0% or 30 shares in its portfolio. Bbva Compass Savings Bank Inc, a Texas-based fund reported 17,527 shares. California State Teachers Retirement System has 186,283 shares for 0.02% of their US portfolio. Citadel Lc, a Illinois-based fund reported 83,644 shares. Cubist Systematic Strategies Limited Liability owns 94 shares or 0% of their US portfolio. Sit Inv Assocs holds 0.09% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 75,260 shares. Tower Ltd Com (Trc) last reported 0% of its portfolio in the stock. Moreover, Paloma Prns Mgmt has 0.03% invested in Continental Resources, Inc. (NYSE:CLR) for 66,678 shares. Wells Fargo Mn accumulated 80,625 shares or 0% of the stock. Thompson Davis And Com holds 0.03% or 453 shares in its portfolio. Essex Invest Management Ltd Liability accumulated 101,939 shares or 0.77% of the stock.
Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 11 insider sales for $3.22 million net activity. Shares for $339,285 were sold by Eissenstat Eric Spencer on Friday, November 18. McNabb John T II sold $221,959 worth of stock. Shares for $213,360 were sold by Owen Steven K on Tuesday, November 22. Stark Jack H sold $590,878 worth of stock or 12,000 shares. Gould Gary E sold $221,601 worth of stock or 5,000 shares. The insider Hart John D sold 4,000 shares worth $187,343.
Another recent and important Continental Resources, Inc. (NYSE:CLR) news was published by Wsj.com which published an article titled: “Continental Resources Loss Widens” on November 02, 2016.
CLR Company Profile
Continental Resources, Inc., incorporated on November 16, 1967, is an independent natural gas and crude oil exploration and production firm with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River, including various plays in the South Central Oklahoma Oil Province (SCOOP), Sooner Trend Anadarko Canadian Kingfisher (STACK), Northwest Cana and Arkoma Woodford areas of Oklahoma. The East region includes undeveloped leasehold acreage east of the Mississippi River. The Company’s estimated proved reserves are approximately 1,230 million barrels of crude oil equivalent (MMBoe) with estimated proved developed reserves of over 520 MMBoe. The Company’s crude oil production is sold to crude oil refining companies at market centers.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.