Continental Resources (NYSE:CLR) Lowered to “Strong Sell” at ValuEngine

ValuEngine cut shares of Continental Resources (NYSE:CLR) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. Barclays increased their target price on shares of Roper Technologies from $342.00 to $355.00 and gave the stock an equal weight rating in a report on Tuesday, July 9th. Seaport Global Securities reissued a buy rating on shares of W&T Offshore in a report on Friday, June 21st. UBS Group raised shares of to a neutral rating and increased their target price for the stock from GBX 945 ($12.35) to GBX 2,060 ($26.92) in a report on Thursday, June 20th. Ifs Securities raised shares of SRC Energy from an outperform rating to a strong-buy rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets started coverage on Victoria Gold in a research note on Thursday, July 11th. They issued an outperform rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Continental Resources has a consensus rating of Buy and a consensus target price of $61.32.

Continental Resources stock opened at $36.26 on Wednesday. The business has a 50 day moving average price of $39.45. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. Continental Resources has a 12-month low of $34.61 and a 12-month high of $71.95. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 0.87.

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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. As a group, analysts predict that Continental Resources will post 2.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%.

Continental Resources declared that its board has approved a share repurchase plan on Monday, June 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and natural gas company to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

In related news, CEO Harold Hamm purchased 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average price of $42.71 per share, for a total transaction of $2,776,150.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John T. Mcnabb II purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $39.88 per share, for a total transaction of $39,880.00. The disclosure for this purchase can be found here. Insiders have bought a total of 104,600 shares of company stock valued at $4,312,166 over the last quarter. Corporate insiders own 77.03% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Legacy Advisors LLC purchased a new stake in Continental Resources in the first quarter worth $45,000. Private Capital Group LLC increased its stake in Continental Resources by 170.9% in the first quarter. Private Capital Group LLC now owns 2,254 shares of the oil and natural gas company’s stock worth $101,000 after purchasing an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Continental Resources by 43.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,598 shares of the oil and natural gas company’s stock worth $116,000 after purchasing an additional 788 shares during the period. Penserra Capital Management LLC increased its stake in Continental Resources by 26.4% in the first quarter. Penserra Capital Management LLC now owns 3,459 shares of the oil and natural gas company’s stock worth $154,000 after purchasing an additional 723 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Continental Resources by 7.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,176 shares of the oil and natural gas company’s stock worth $187,000 after purchasing an additional 288 shares during the period. Institutional investors own 20.08% of the company’s stock.

Continental Resources Company Profile

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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Analyst Recommendations for Continental Resources (NYSE:CLR)

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