Scotiabank slashes price target on Continental Resources Inc. [CLR] – find out why.

Continental Resources Inc. [NYSE: CLR] closed the trading session at $70.56 on 08/18/22. The day’s price range saw the stock hit a low of $68.75, while the highest price level was $70.625. The company report on August 18, 2022 that Doug Lawler Promoted to President & COO at Continental Resources.

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Continental Resources, Inc. (NYSE: CLR) today announced Doug Lawler is being promoted to President and Chief Operating Officer.

The stocks have a year to date performance of 57.64 percent and weekly performance of 2.90 percent. The stock has been moved at 30.21 percent over the last six months. The stock has performed 6.09 percent around the most recent 30 days and changed 19.80 percent over the most recent 3-months.

If compared to the average trading volume of 1.69M shares, CLR reached to a volume of 2419002 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $74.17 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 3.00. 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.

Scotiabank have made an estimate for Continental Resources Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on August 01, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $76 to $70. The new note on the price target was released on July 22, 2022, representing the official price target for Continental Resources Inc. stock. Previously, the target price had yet another raise from $75 to $80, while RBC Capital Mkts kept a Sector Perform rating on CLR stock. On June 24, 2022, analysts decreased their price target for CLR shares from 74 to 70.

The Average True Range (ATR) for Continental Resources Inc. is set at 2.19, with the Price to Sales ratio for CLR stock in the period of the last 12 months amounting to 3.31. The Price to Book ratio for the last quarter was 2.80, with the Price to Cash per share for the same quarter was set at 1.53. Price to Free Cash Flow for CLR in the course of the last twelve months was 5.00 with Quick ratio for the last quarter at 0.90.

CLR stock trade performance evaluation

Continental Resources Inc. [CLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.90. With this latest performance, CLR shares gained by 6.09% in over the last four-week period, additionally plugging by 30.21% over the last 6 months – not to mention a rise of 106.68% 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 63.31, with the RSI for the last a single of trading hit 69.54, and the three-weeks RSI is set at 59.48 for Continental Resources Inc. [CLR]. The present Moving Average for the last 50 days of trading for this stock 66.73, while it was recorded at 68.62 for the last single week of trading, and 57.70 for the last 200 days.

Continental Resources Inc. [CLR]: An insightful look at the core fundamentals

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 1.00.

Earnings per share (EPS) analysis for Continental Resources Inc. [CLR] stock

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 27.25%.

Continental Resources Inc. [CLR]: Insider Ownership positions

There are presently around $3,299 million, or 12.70% 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 7,103,892, which is approximately -1.815% of the company’s market cap and around 43.90% of the total institutional ownership; VANGUARD GROUP INC, holding 5,524,235 shares of the stock with an approximate value of $389.79 million in CLR stocks shares; and FMR LLC, currently with $200.05 million in CLR stock with ownership of nearly 509.153% of the company’s market capitalization.

Positions in Continental Resources Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 171 institutional holders increased their position in Continental Resources Inc. [NYSE:CLR] by around 11,057,264 shares. Additionally, 209 investors decreased positions by around 9,199,800 shares, while 53 investors held positions by with 26,501,043 shares. The mentioned changes placed institutional holdings at 46,758,107 shares, according to the latest SEC report filing. CLR stock had 82 new institutional investments in for a total of 5,580,903 shares, while 68 institutional investors sold positions of 2,515,407 shares during the same period.


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