Truist Financial Boosts Continental Resources (NYSE:CLR) Price Target to $95.00

Continental Resources (NYSE:CLRGet Rating) had its price objective increased by equities researchers at Truist Financial from $80.00 to $95.00 in a note issued to investors on Thursday, The Fly reports. Truist Financial’s price target indicates a potential upside of 61.56% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. MKM Partners increased their target price on shares of Continental Resources from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, February 16th. KeyCorp increased their target price on shares of Continental Resources from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, April 14th. Morgan Stanley decreased their target price on shares of Continental Resources from $57.00 to $53.00 and set an “underweight” rating for the company in a research report on Tuesday, January 25th. Barclays increased their target price on shares of Continental Resources from $64.00 to $67.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Piper Sandler increased their target price on shares of Continental Resources from $61.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Continental Resources currently has a consensus rating of “Hold” and an average price target of $61.74.

Shares of CLR opened at $58.80 on Thursday. The company has a 50 day moving average price of $59.74 and a 200-day moving average price of $52.80. Continental Resources has a fifty-two week low of $25.24 and a fifty-two week high of $66.86. The stock has a market capitalization of $21.42 billion, a PE ratio of 12.89, a PEG ratio of 0.19 and a beta of 2.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.97 and a current ratio of 1.04.

Continental Resources (NYSE:CLRGet Rating) last announced its quarterly earnings results on Monday, February 14th. The oil and natural gas company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.06. Continental Resources had a net margin of 29.04% and a return on equity of 23.67%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company earned ($0.23) EPS. The company’s revenue was up 130.0% compared to the same quarter last year. Equities research analysts forecast that Continental Resources will post 9.89 EPS for the current year.

In related news, major shareholder Harold Hamm acquired 300,744 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were acquired at an average cost of $59.30 per share, with a total value of $17,834,119.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jack H. Stark sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $60.13, for a total transaction of $3,006,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,000 shares of company stock worth $6,204,250. 82.35% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its stake 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 worth $213,000 after buying an additional 295 shares in the last quarter. B. Riley Wealth Management Inc. increased its position in Continental Resources by 5.2% during the fourth quarter. B. Riley Wealth Management Inc. now owns 6,028 shares of the oil and natural gas company’s stock worth $270,000 after purchasing an additional 300 shares during the last quarter. CIBC Asset Management Inc increased 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 purchasing an additional 372 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in Continental Resources during the third quarter worth about $27,000. Finally, Oppenheimer & Co. Inc. increased 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 purchasing an additional 400 shares during the last quarter. 13.41% of the stock is currently owned by hedge funds and other institutional investors.

Continental Resources Company Profile (Get Rating)

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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