Continental Resources (NYSE:CLR):
Continental Resources Reports Second International Sale Of Bakken Oil.
The company is trading up by 0.54% percent from yesterday’s close.
Continental Resources, Inc., launched on November 16, 1967, is an independent 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 all 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. The East region is consists of undeveloped leasehold acreage east of the Mississippi River with no drilling or production operations. As of December 31, 2016, the Business’s estimated proved reserves were 1,275 million barrels of oil equivalent (MMBoe), with estimated proved developed reserves of 519 MMBoe..
The P/E ratio is currently N/A and market cap is 16.91B. As of the last earnings report the EPS was $-0.07 with 375.21M shares presently outstanding.
Short traders are feeling a little more bullish of late as inferred by the fall in short interest. The firm saw a fall in short interest of -0.39% as of the latest report on October 31, 2017. Short shares decreased from 16,768,639 to 16,703,760 over that period. With short interest at 16,703,760 and short average daily volume at 2,222,260, the short-interest ratio is 8.0 and the percentage of shorted shares is 0.04% as of October 31.
Several ratings analysts have issued ratings on the stock recently. Equity analyst Royal Bank Of Canada raised the price target on November 9 changing the forecast from $48.00 to $51.00 and stated a “Outperform” rating.
Morgan Stanley raised the price target of the stock on November 8 boosting the projection from $51.00 to $56.00 and issued a “Overweight” recommendation. Bank of America Corporation raised the price target on November 8 changing the price objective from $46.00 to $53.00 with a “Buy” recommendation.
Equity analyst Morgan Stanley raised the price target on October 18 changing the price objective from $43.00 to $51.00 and issued a “Overweight” rating. SunTrust Banks released research on CLR with a rating of “Buy” and projecting a price target of $50.00.Advertisement