Credit Suisse Initiates Coverage on Continental Resources to Neutral

Credit Suisse Initiates Coverage on Continental Resources(NYSE:CLR). The shares have been rated Neutral. The rating by Credit Suisse was issued on Jun 6, 2016.

In a different note, On May 6, 2016, Wunderlich said it Maintains its rating on Continental Resources. In the research note, the firm Raises the price-target to $40.00 per share. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Raymond James said it Upgrades its rating on Continental Resources. The shares have been rated ‘Strong Buy’ by the firm. On Apr 27, 2016, Capital One Financial said it Downgrades its rating on Continental Resources. The shares have been rated ‘Equal-weight’ by the firm. On Apr 6, 2016, Stifel Nicolaus said it Downgrades its rating on Continental Resources. The shares have been rated ‘Hold’ by the firm. On Mar 30, 2016, Seaport Global said it Upgrades its rating on Continental Resources. The shares have been rated ‘Buy’ by the firm. On Mar 18, 2016, RBC Capital said it Assumes its rating on Continental Resources. The shares have been rated ‘Outperform’ by the firm.

Continental Resources (CLR) shares turned negative on Fridays trading session with the shares closing down -2.35 points or -5.45% at a volume of 28,93,727. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $42.75. The peak price level was also seen at $42.75 while the days lowest was $40.72. Finally the shares closed at $40.8. The 52-week high of the shares is $47.95 while the 52-week low is $13.94. According to the latest information available, the market cap of the company is $15,283 M.

Continental Resources(CLR) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $453.17M. Analysts had an estimated revenue of $440.52M. Earnings per share were $-0.41. Analysts had estimated an EPS of $-0.37.

Several Insider Transactions has been reported to the SEC. On May 24, 2016, Glen A Brown (SVP, Exploration) sold 15,000 shares at $40.91 per share price.Also, On May 24, 2016, David L Boren (director) sold 5,000 shares at $41.10 per share price.On May 12, 2016, Steven K Owen (SVP, Land) sold 14,000 shares at $40.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Continental Resources Inc. is an independent crude oil and natural gas exploration and production company. The Company owns 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 Bakken field of North Dakota and Montana is a crude oil resource play. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River including various plays in the South Central Oklahoma Oil Province (SCOOP) Northwest Cana and Arkoma areas of Oklahoma. The East region comprises undeveloped leasehold acreage east of the Mississippi River.

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