Why Has Sun Trust Rbsn Humphrey Given Continental Resources (NYSE:CLR) a $30 Price Target
In analysts report announced on 15 December, investment advisers at Sun Trust Rbsn Humphrey have begun coverage for Continental Resources (NYSE:CLR) shares. The firm has decided to set a Neutral rating along with a $30, adding 10.01% to the target.
From a total of 32 analysts covering Continental Resources Inc. (NYSE:CLR) stock, 17 rate it a ”Buy”, 1 a “Sell”, and 13 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $59 while the lowest target price is $30. The mean of all analyst targets is $41.72 with a 54.99% above today’s ($27.28) stock price. Continental Resources Inc. was the topic of 29 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on December 9 with “Hold” rating. Bank of America downgraded shares to “Neutral” rating and $44 target share price in a report from an August 24. RBC Capital Markets maintained CLR stock in a recent report from November 6 with “Outperform” rating. Scotia Capital upgraded the rating on August 15. Scotia Capital has a “Sector Perform” rating and a $58 price target on shares. Finally, Stephens initiated the stock with “Equal Weight” rating in a report issued on an October 6.
The stock increased 2.33% or $0.62 on December 15, striking $27.28. Approximately 4.79M shares of stock traded hands. Continental Resources, Inc. (NYSE:CLR) has declined 44.93% since May 12, 2015 and is downtrending. It has underperformed by 41.25% the S&P500.
The overall sentiment of institutions has decreased to 0.82 in Q2 2015. Its down 0.26, from 1.08 in 2015Q2. The ratio dived, as 83 institutions have sold all the shares of Continental Resources, Inc. that they owned while 93 funds have taken shares off the table. 29 funds have purchased shares for the first time while 116 added to their positions. These institutions now hold 90.39 million shares or 10.43% more than the 81.85 million shares they owned in 2015Q2.
The Fund Caymus Capital Partners L.P. currently is holding shares equating to 9.51% of its total portfolio in Continental Resources, Inc. representing a total of 1.62 million shares. Another fund,Tbp Investments Management Llc, is holding a total of 108,000 shares equating to 8.44% of their holdings. Additionally, Encompass Capital Advisors Llc has a 1.27 million share stake in Continental Resources, Inc. which represents 6.86% of their total portfolio. The Fund, Sound Energy Partners Inc., based out of Connecticut, has also built up a stake in the stock, which represents a total of 5% of their total portfolio. Finally Amiya Capital Llp, a fund which is based in the state of United Kingdom reported a total holdings of 23,100 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 12, 2015, shareholders of Continental Resources, Inc. have witnessed 1 insider buy, and a total of 0 sales equating to a net activity of approximately $706 . Owen Steven K bought 25 shares worth approximately $706. Mccain Ellis L sold 6,666 shares worth approximately $310,050. Boren David L sold 7,780 shares worth approximately $354,283. Hart John D sold 7,500 shares worth approximately $359,501.
Continental Resources, Inc. is an independent natural gas and crude oil exploration and production company. The company has a market cap of $9.92 billion. The Firm owns properties in the North, South and East regions of the United States. It currently has negative earnings. 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.
According to Zacks Investment Research, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations.”