Continental Resources (NYSE:CLR) Downgrade

Stock research analysts at Susquehanna’s equity research division downgraded Continental Resources (NYSE:CLR)’s stock rating from Positive to Neutral on Wednesday, 17 January.

According to data compiled by Thomson Reuters, Continental Resources (NYSE:CLR)’s stock is covered by 34 equity analysts across the Street, with 1 analysts giving it a Sell rating, 22 a Buy rating, while 11 consider it a Hold. The 12-month consensus target price for the stock is $46.15, which reflects an downside potential of 1.24% over the current price.

Institutional Ownership

Brenham Capital Management L.P. had the most significant stake with ownership of 1.40 million shares as of q2 2015 for 8.63% of the portfolio. Jvl Advisors L.L.C. is another very bullish active investment manager who is owning 835,900 shares of Continental Resources or 8.48% of their portfolio. In addition, Caymus Capital Partners L.P. have 4.63% of their portfolio invested in the company for 763,500 shares. The New Jersey-based fund Columbus Hill Capital Management L.P. revealed it had bought a stake worth about 4.61% of the active investment manager’s stock portfolio in Continental Resources. The California-based fund Cambrian Capital Limited Partnership is also positive about the stock, possessing 836,500 shares or 4.54% of their portfolio.

Continental Resources (NYSE:CLR) Profile

Continental Resources, Inc. is a crude oil and natural gas company with 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 South region includes properties south of Nebraska and west of the Mississippi River including various plays in the South Central Oklahoma Oil Province (SCOOP), Sooner Trend Anadarko Canadian Kingfisher (STACK), and Arkoma Woodford areas of Oklahoma.

Continental Resources (NYSE:CLR) traded up 1.04% on 17 January, hitting $46.73. A total of 662,073 shares of the company’s stock traded hands. This is down from average of 2.67 million shares. Continental Resources has a 52 week low of $29.08 and a 52 week high of $60.3. The company has a market cap of $17.53 billion and a P/E ratio of 0.

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