Market Analysts see Continental Resources Inc. [CLR] gaining to $70. Time to buy?


Continental Resources Inc. [NYSE: CLR] gained 15.07% on the last trading session, reaching $74.22 price per share at the time. The company report on June 14, 2022 that Continental Resources Announces Receipt of “Take Private” Proposal From Hamm Family.

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Continental Resources, Inc. (NYSE: CLR) today announced that its board of directors (the “Board”) has received a non-binding proposal letter, dated June 13, 2022, from Harold G. Hamm, on behalf of himself, the Harold G. Hamm Trust and certain trusts established for the benefit of Mr. Hamm’s family members (collectively, the “Hamm Family”) to acquire for cash all of the outstanding shares of common stock (the “Common Stock”) of Continental, other than shares of Common Stock owned by the Hamm Family and shares of Common Stock underlying unvested equity awards issued pursuant to Continental’s long-term incentive plans. A copy of the proposal letter is attached as Annex A to this press release.

Continental Resources Inc. represents 358.17 million in outstanding shares, while the company has a total market value of $27.54 billion with the latest information. CLR stock price has been found in the range of $72.20 to $75.49.

If compared to the average trading volume of 1.54M shares, CLR reached a trading volume of 9573963 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Continental Resources Inc. [CLR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLR shares is $75.68 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLR stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Continental Resources Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 07, 2022. The new note on the price target was released on November 17, 2021, representing the official price target for Continental Resources Inc. stock. Previously, the target price had yet another raise to $54, while Citigroup analysts kept a Buy rating on CLR stock. On November 05, 2021, analysts increased their price target for CLR shares from 54 to 56.

The Average True Range (ATR) for Continental Resources Inc. is set at 3.72, with the Price to Sales ratio for CLR stock in the period of the last 12 months amounting to 4.36. The Price to Book ratio for the last quarter was 3.37, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for CLR in the course of the last twelve months was 6.68 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for CLR stock

Continental Resources Inc. [CLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.16. With this latest performance, CLR shares gained by 28.30% in over the last four-week period, additionally plugging by 68.64% over the last 6 months – not to mention a rise of 101.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLR stock in for the last two-week period is set at 62.99, with the RSI for the last a single of trading hit 63.92, and the three-weeks RSI is set at 61.65 for Continental Resources Inc. [CLR]. The present Moving Average for the last 50 days of trading for this stock 62.66, while it was recorded at 70.78 for the last single week of trading, and 53.15 for the last 200 days.

Continental Resources Inc. [CLR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Continental Resources Inc. [CLR] shares currently have an operating margin of +44.45 and a Gross Margin at +48.44. Continental Resources Inc.’s Net Margin is presently recorded at +28.40.

Return on Equity for this stock inclined to 24.55, with Return on Assets sitting at 9.71.

Continental Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Continental Resources Inc. [CLR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Continental Resources Inc. go to 11.06%.

An analysis of insider ownership at Continental Resources Inc. [CLR]

There are presently around $2,896 million, or 12.60% of CLR stock, in the hands of institutional investors. The top three institutional holders of CLR stocks are: SMEAD CAPITAL MANAGEMENT, INC. with ownership of 7,235,205, which is approximately 9.987% of the company’s market cap and around 83.40% of the total institutional ownership; VANGUARD GROUP INC, holding 4,172,408 shares of the stock with an approximate value of $269.12 million in CLR stocks shares; and BLACKROCK INC., currently with $201.15 million in CLR stock with ownership of nearly 6.481% of the company’s market capitalization.

Positions in Continental Resources Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 165 institutional holders increased their position in Continental Resources Inc. [NYSE:CLR] by around 6,209,008 shares. Additionally, 186 investors decreased positions by around 9,781,452 shares, while 56 investors held positions by with 28,915,780 shares. The mentioned changes placed institutional holdings at 44,906,240 shares, according to the latest SEC report filing. CLR stock had 74 new institutional investments in for a total of 1,058,619 shares, while 53 institutional investors sold positions of 2,746,811 shares during the same period.