Continental Resources (NYSE:CLR) Trading Down 4.5%

Continental Resources, Inc. (NYSE:CLR)’s share price traded down 4.5% during trading on Thursday . The company traded as low as $24.69 and last traded at $24.69. 5,051 shares changed hands during trading, a decline of 100% from the average session volume of 2,660,617 shares. The stock had previously closed at $25.85.

A number of equities analysts have commented on the stock. Raymond James reaffirmed a “hold” rating on shares of Continental Resources in a research note on Monday, February 22nd. The Goldman Sachs Group started coverage on Continental Resources in a research report on Tuesday, March 23rd. They issued a “sell” rating and a $24.50 target price on the stock. Morgan Stanley raised their price objective on Continental Resources from $14.00 to $25.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 17th. Mizuho upgraded shares of Continental Resources from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $8.00 to $23.00 in a report on Tuesday, January 12th. Finally, Citigroup increased their target price on shares of Continental Resources from $16.00 to $19.00 in a research note on Tuesday, January 26th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.35.

The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.87. The company has a market cap of $9.06 billion, a PE ratio of -30.06 and a beta of 3.37. The company has a fifty day simple moving average of $26.60 and a two-hundred day simple moving average of $18.95.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, February 15th. The oil and natural gas company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.15). The company had revenue of $837.64 million for the quarter, compared to analyst estimates of $769.66 million. Continental Resources had a negative return on equity of 2.05% and a negative net margin of 10.54%. During the same period in the prior year, the firm posted $0.55 earnings per share. On average, research analysts anticipate that Continental Resources, Inc. will post -1.01 EPS for the current fiscal year.

In other Continental Resources news, CFO John D. Hart sold 7,500 shares of the stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $26.63, for a total value of $199,725.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 79.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC acquired a new stake in shares of Continental Resources during the 1st quarter worth about $498,000. DekaBank Deutsche Girozentrale purchased a new position in Continental Resources in the fourth quarter valued at approximately $1,104,000. Amundi Pioneer Asset Management Inc. raised its holdings in Continental Resources by 1,911.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 24,042 shares of the oil and natural gas company’s stock worth $392,000 after purchasing an additional 22,847 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Continental Resources by 57.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 148,850 shares of the oil and natural gas company’s stock worth $2,426,000 after buying an additional 54,184 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Continental Resources during the 4th quarter worth approximately $167,000. 14.81% of the stock is owned by institutional investors and hedge funds.

About Continental Resources (NYSE:CLR)

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas 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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