Weekly Investment Analysts’ Ratings Updates for Continental Resources (CLR)

Several brokerages have updated their recommendations and price targets on shares of Continental Resources (NYSE: CLR) in the last few weeks:

  • 4/21/2022 – Continental Resources had its price target raised by analysts at Truist Financial Co. from $80.00 to $95.00.
  • 4/19/2022 – Continental Resources had its price target raised by analysts at Barclays PLC from $64.00 to $67.00. They now have an “underweight” rating on the stock.
  • 4/14/2022 – Continental Resources had its price target raised by analysts at KeyCorp from $70.00 to $72.00. They now have an “overweight” rating on the stock.
  • 4/8/2022 – Continental Resources had its price target raised by analysts at KeyCorp from $68.00 to $70.00. They now have an “overweight” rating on the stock.
  • 4/7/2022 – Continental Resources had its price target raised by analysts at Piper Sandler from $61.00 to $76.00. They now have a “neutral” rating on the stock.
  • 3/31/2022 – Continental Resources had its price target raised by analysts at Mizuho from $59.00 to $72.00. They now have a “neutral” rating on the stock.
  • 3/31/2022 – Continental Resources is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/24/2022 – Continental Resources had its price target raised by analysts at KeyCorp from $63.00 to $68.00. They now have an “overweight” rating on the stock.
  • 3/18/2022 – Continental Resources had its price target raised by analysts at Barclays PLC from $44.00 to $64.00.
  • 3/14/2022 – Continental Resources had its price target raised by analysts at Wells Fargo & Company from $64.00 to $82.00. They now have an “overweight” rating on the stock.
  • 3/10/2022 – Continental Resources had its price target raised by analysts at Piper Sandler from $55.00 to $61.00. They now have a “neutral” rating on the stock.
  • 3/3/2022 – Continental Resources had its price target raised by analysts at KeyCorp from $61.00 to $63.00. They now have an “overweight” rating on the stock.

Shares of CLR stock opened at $61.27 on Friday. The stock’s 50-day simple moving average is $59.71 and its 200-day simple moving average is $52.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a market capitalization of $22.32 billion, a PE ratio of 13.44, a P/E/G ratio of 0.19 and a beta of 2.89. Continental Resources, Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $66.86.

Continental Resources (NYSE:CLRGet Rating) last announced its quarterly earnings data on Monday, February 14th. The oil and natural gas company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.06. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.71 billion. Continental Resources had a return on equity of 23.67% and a net margin of 29.04%. The company’s revenue was up 130.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) earnings per share. Sell-side analysts forecast that Continental Resources, Inc. will post 9.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 4th. Investors of record on Tuesday, February 22nd were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.50%. This is a positive change from Continental Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, February 18th. Continental Resources’s dividend payout ratio (DPR) is 20.18%.

In other Continental Resources news, major shareholder Harold Hamm acquired 300,744 shares of the company’s stock in a transaction on Monday, March 7th. The shares were bought at an average cost of $59.30 per share, with a total value of $17,834,119.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jack H. Stark sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $64.23, for a total value of $1,605,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,000 shares of company stock worth $6,204,250. 82.35% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC lifted its position in shares of Continental Resources by 6.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,769 shares of the oil and natural gas company’s stock valued at $213,000 after acquiring an additional 295 shares in the last quarter. B. Riley Wealth Management Inc. lifted its position in shares of Continental Resources by 5.2% in the fourth quarter. B. Riley Wealth Management Inc. now owns 6,028 shares of the oil and natural gas company’s stock valued at $270,000 after acquiring an additional 300 shares in the last quarter. CIBC Asset Management Inc lifted its position in Continental Resources by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 15,097 shares of the oil and natural gas company’s stock worth $676,000 after buying an additional 372 shares in the last quarter. First Horizon Advisors Inc. purchased a new position in Continental Resources during the third quarter worth approximately $27,000. Finally, Oppenheimer & Co. Inc. lifted its position in Continental Resources by 5.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 7,467 shares of the oil and natural gas company’s stock worth $334,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 13.41% of the company’s stock.

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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