Continental Resources (CLR) is Upgraded by Barclays to Overweight, Raises Price Target to $ 60

Continental Resources (CLR) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 60 from a previous price target of $48 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Continental Resources. Company shares were Reiterated by Wunderlich on Aug 19, 2016 to “Buy”, Firm has raised the Price Target to $ 59 from a previous price target of $50 .Continental Resources was Initiated by Wells Fargo to “Outperform” on Aug 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 51 from a previous price target of $48 .

On the company’s financial health, Continental Resources reported $-0.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.17. The company had revenue of $525.70 million for the quarter, compared to analysts expectations of $563.20 million. The company’s revenue was down -33.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Continental Resources closed down -0.74 points or -1.41% at $51.78 with 17,53,127 shares getting traded on Friday. Post opening the session at $52.82, the shares hit an intraday low of $51.68 and an intraday high of $52.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 23, 2016, Steven K Owen (SVP, Land) sold 3,200 shares at $46.54 per share price. According to the SEC, on Sep 23, 2016, John D Hart (Sr. VP & CFO) sold 4,000 shares at $46.84 per share price. On Sep 1, 2016, Gary E Gould (SVP, Prod. & Res. Dev.) sold 5,000 shares at $50.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Continental Resources Inc. is an independent crude oil and natural gas exploration and production company. The Company owns 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 Bakken field of North Dakota and Montana is a crude oil resource play. 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) Northwest Cana and Arkoma areas of Oklahoma. The East region comprises undeveloped leasehold acreage east of the Mississippi River.

Continental Resources

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