Continental Resources, Inc. (NYSE:CLR) shares traded up 5.6% on Monday . The stock traded as high as $32.03 and last traded at $32.02, 3,261,427 shares changed hands during trading. An increase of 34% from the average session volume of 2,442,784 shares. The stock had previously closed at $30.31.

CLR has been the topic of a number of recent research reports. UBS Group set a $45.00 price objective on shares of Continental Resources and gave the company a “hold” rating in a research note on Thursday, June 20th. Barclays decreased their target price on shares of Continental Resources from $59.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. ValuEngine downgraded shares of Continental Resources from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. BMO Capital Markets lowered shares of Continental Resources from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $46.00 to $45.00 in a report on Thursday, July 11th. Finally, Piper Jaffray Companies set a $49.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $54.52.

The company’s 50 day simple moving average is $31.39 and its 200 day simple moving average is $39.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.95 and a current ratio of 1.03. The stock has a market cap of $11.99 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.69.

Continental Resources (NYSE:CLR) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Continental Resources had a return on equity of 15.09% and a net margin of 19.64%. Continental Resources’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. Equities research analysts expect that Continental Resources, Inc. will post 2.33 earnings per share for the current year.

Continental Resources announced that its Board of Directors has approved a share buyback plan on Monday, June 3rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the oil and natural gas company to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Continental Resources by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,765 shares of the oil and natural gas company’s stock valued at $30,937,000 after purchasing an additional 12,127 shares during the last quarter. Geode Capital Management LLC grew its position in Continental Resources by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 769,212 shares of the oil and natural gas company’s stock valued at $30,891,000 after buying an additional 18,662 shares during the period. Victory Capital Management Inc. grew its position in Continental Resources by 12.1% during the first quarter. Victory Capital Management Inc. now owns 45,966 shares of the oil and natural gas company’s stock valued at $2,058,000 after buying an additional 4,954 shares during the period. Stephens Inc. AR purchased a new stake in Continental Resources during the first quarter worth about $473,000. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in Continental Resources by 3.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 8,442 shares of the oil and natural gas company’s stock worth $378,000 after buying an additional 292 shares during the last quarter. Institutional investors and hedge funds own 19.49% of the company’s stock.

About Continental Resources (NYSE:CLR)

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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