Continental Resources, Inc. explores for, develops, and produces crude oil and natural gas primarily in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies. As of December 31, 2020, its proved reserves were 1,104 million barrels of crude oil equivalent (MMBoe) with proved developed reserves of 627 MMBoe. The company was founded in 1967 and is headquartered in Oklahoma City, Oklahoma.
IPO Year: 2007
Exchange: NYSE
Website: clr.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/24/2022 | Outperform → Mkt Perform | Raymond James | |
| 10/19/2022 | $67.00 → $74.00 | Underweight → Equal-Weight | Morgan Stanley |
| 8/1/2022 | Sector Outperform → Sector Perform | Scotiabank | |
| 7/22/2022 | $76.00 → $70.00 | Neutral → Underweight | Piper Sandler |
| 7/6/2022 | $75.00 → $80.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 6/24/2022 | $74.00 → $70.00 | Buy → Neutral | Citigroup |
| 6/15/2022 | $107.00 → $70.00 | Buy → Hold | Stifel |
| 6/15/2022 | $82.00 | Overweight → Equal Weight | Wells Fargo |
| 3/10/2022 | $55.00 → $61.00 | Neutral | Piper Sandler |
| 3/3/2022 | $61.00 → $63.00 | Overweight | Keybanc |
Raymond James downgraded Continental Resources from Outperform to Mkt Perform
Morgan Stanley upgraded Continental Resources from Underweight to Equal-Weight and set a new price target of $74.00 from $67.00 previously
Scotiabank downgraded Continental Resources from Sector Outperform to Sector Perform
Piper Sandler downgraded Continental Resources from Neutral to Underweight and set a new price target of $70.00 from $76.00 previously
RBC Capital Mkts downgraded Continental Resources from Outperform to Sector Perform and set a new price target of $80.00 from $75.00 previously
Citigroup downgraded Continental Resources from Buy to Neutral and set a new price target of $70.00 from $74.00 previously
Stifel downgraded Continental Resources from Buy to Hold and set a new price target of $70.00 from $107.00 previously
Wells Fargo downgraded Continental Resources from Overweight to Equal Weight and set a new price target of $82.00
Piper Sandler reiterated coverage of Continental Resources with a rating of Neutral and set a new price target of $61.00 from $55.00 previously
Keybanc reiterated coverage of Continental Resources with a rating of Overweight and set a new price target of $63.00 from $61.00 previously
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
4 - CONTINENTAL RESOURCES, INC (0000732834) (Issuer)
SC 13D/A - CONTINENTAL RESOURCES, INC (0000732834) (Subject)
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SC 13D/A - CONTINENTAL RESOURCES, INC (0000732834) (Subject)
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Completion of Previously Announced Merger and Going Private Transaction Expected Later Today OKLAHOMA CITY, Nov. 22, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) today announced that it is initiating the final steps in closing its previously announced merger with Omega Acquisition, Inc. ("Merger Sub"). Following the completion of the merger, shares of Continental common stock are expected to cease trading on the New York Stock Exchange ("NYSE") prior to market open on Wednesday, November 23, 2022, and will no longer be listed for trading on the NYSE. Merger Sub's tender offer to purchase any and all outstanding shares of Continental's common stock, other than (i) shares of com
NEW YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the sale of IAA, Inc. to RBA for $10.00 per share in cash and 0.5804 shares of RBA common stock for each share of IAA common stock. If you are an RBA investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or email at [email protected]. Akouos, Inc. (NASDAQ:AKUS) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connect
OKLAHOMA CITY, Nov. 2, 2022 /PRNewswire/ -- Strong 3Q22 Results• $2.22 B Cash Flow from Operations (CFO) & $1.01 B Free Cash Flow (FCF) (Non-GAAP)• $1.01 B Net Income; $2.80 per Diluted Share ($1.04 B Adj. Net Income; $2.88 per Adj. Share (Non-GAAP))• Total Debt of $6.30 B & Net Debt (Non-GAAP) of $4.49 B as of 9/30/22 (No Change in Total Debt & $1.26 B Net Debt (Non-GAAP) Reduction in 3Q22)• More Than $4.00 B of Total Liquidity, Inclusive of Undrawn $2.25 B Revolver & $1.81 B Cash Balance as of 9/30/22 Continental Resources, Inc. (NYSE:CLR) (the "Company") today announced its third quarter 2022 operating and financial results. Logo: https://mma.prnewswire.com/media/95419/continenta
OKLAHOMA CITY, Oct. 25, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) (the "Company") plans to announce third quarter 2022 results and file the Company's Quarterly Report on Form 10-Q on Wednesday, November 2, 2022, after the close of trading on the New York Stock Exchange. The Company also plans to publish a third quarter 2022 summary presentation to its website at www.CLR.com on Wednesday, November 2, 2022. The Company does not intend to host a conference call in connection with its third quarter 2022 results. Logo - https://mma.prnewswire.com/media/95419/continental_resources_logo.jpg About Continental Resources Continental Resources (NYSE:CLR) is a top 10 independent oil p
OKLAHOMA CITY, Oct. 24, 2022 /PRNewswire/ -- Omega Acquisition, Inc. (the "Purchaser"), an Oklahoma corporation, 100% of the capital stock of which is owned by Harold G. Hamm, the founder and Chairman of the Board of Directors (the "Board") of Continental Resources, Inc. ("Continental" or the "Company"), today commenced a tender offer (the "Offer") to acquire all of the outstanding shares of common stock, par value $0.01 per share (the "Shares") of the Company, other than: (i) Shares owned by Mr. Hamm, certain of his family members and their affiliated entities (collectively, the "Hamm Family"); and (ii) Shares underlying unvested Company restricted stock awards (such Shares, together with t
OKLAHOMA CITY, Oct. 17, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Omega Acquisition, Inc., an Oklahoma corporation ("Merger Sub"), an entity that is owned by Continental's founder, Harold G. Hamm. Pursuant to the Merger Agreement, Merger Sub will commence a tender offer to purchase any and all of the outstanding shares of Continental's common stock at $74.28 per share (the "Offer Price"), other than (i) shares of common stock owned directly or indirectly by Mr. Hamm and the Hamm family and (ii) shares of common stock underlying unvested equity awards issued pursuant to Con
OKLAHOMA CITY, Aug. 18, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) today announced Doug Lawler is being promoted to President and Chief Operating Officer. Logo - https://mma.prnewswire.com/media/95419/continental_resources_logo.jpg Doug joined Continental in February as Chief Operating Officer and Executive Vice President following three decades in the oil and gas industry. "Since joining Continental in February, Doug has provided strong complementary leadership and is making a stellar impact on our already strong operations. Doug exemplifies our 'culture of the possible' daily with his positive, can-do approach that is among the best in the business. His extensive industr
OKLAHOMA CITY, July 28, 2022 /PRNewswire/ -- Strong 2Q22 Results• $1.74 B Cash Flow from Operations (CFO) & $1.23 B Free Cash Flow (FCF) (Non-GAAP)• $1.21 B Net Income; $3.35 per Diluted Share ($1.25 B Adj. Net Income; $3.47 per Adj. Share (Non-GAAP))• $265.2 MM Total Debt Reduction and $814.2 MM Net Debt (Non-GAAP) Reduction in 2Q22 Declaring $0.28 per Share Quarterly Dividend (Payable 8/22/22 to Stockholders of Record on 8/8/22) Updating Various 2022 Guidance Metrics & Differentials• Increasing Projected Return on Capital Employed (ROCE) to ~32% from Previous ~31%• Improving 2022 Crude Oil Differentials per Barrel of Oil to Average ($2.25) to ($3.25) from ($2.50) to ($3.50)• Improvi
Successfully closed strategic acquisitions in the Delaware Basin, doubling basin processing capacity and significantly increasing Crestwood's cash flow contribution from the most active and economic basin in the U.S. Second quarter 2022 net income of $39 million and Adjusted EBITDA1 of $180 million, a 23% increase year-over-year, driven by robust Delaware Basin activity and strong commodity prices, offset by a $13 million winter weather impact in the Williston Basin Strong cash flow profile and balance sheet highlighted by a coverage ratio of 1.7x and a leverage ratio of 3.7x as of June 30, 2022; substantial free cash flow generation in 2023 drives leverage to long-term target of 3.5x Re
OKLAHOMA CITY, July 13, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) (the "Company") plans to announce second quarter 2022 results and file the Company's Quarterly Report on Form 10-Q on Thursday, July 28, 2022, after the close of trading on the New York Stock Exchange. The Company also plans to publish a second quarter 2022 summary presentation to its website at www.CLR.com on Thursday, July 28, 2022. The Company does not intend to host a conference call in connection with its second quarter 2022 results. Logo - https://mma.prnewswire.com/media/95419/continental_resources_logo.jpg As previously announced on June 14, 2022, the Company received a non-binding proposal from Harol
10-Q - CONTINENTAL RESOURCES, INC (0000732834) (Filer)
10-Q - CONTINENTAL RESOURCES, INC (0000732834) (Filer)
10-Q - CONTINENTAL RESOURCES, INC (0000732834) (Filer)
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10-K - CONTINENTAL RESOURCES, INC (0000732834) (Filer)
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Completion of Previously Announced Merger and Going Private Transaction Expected Later Today OKLAHOMA CITY, Nov. 22, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) today announced that it is initiating the final steps in closing its previously announced merger with Omega Acquisition, Inc. ("Merger Sub"). Following the completion of the merger, shares of Continental common stock are expected to cease trading on the New York Stock Exchange ("NYSE") prior to market open on Wednesday, November 23, 2022, and will no longer be listed for trading on the NYSE. Merger Sub's tender offer to purchase any and all outstanding shares of Continental's common stock, other than (i) shares of com
OKLAHOMA CITY, Nov. 2, 2022 /PRNewswire/ -- Strong 3Q22 Results• $2.22 B Cash Flow from Operations (CFO) & $1.01 B Free Cash Flow (FCF) (Non-GAAP)• $1.01 B Net Income; $2.80 per Diluted Share ($1.04 B Adj. Net Income; $2.88 per Adj. Share (Non-GAAP))• Total Debt of $6.30 B & Net Debt (Non-GAAP) of $4.49 B as of 9/30/22 (No Change in Total Debt & $1.26 B Net Debt (Non-GAAP) Reduction in 3Q22)• More Than $4.00 B of Total Liquidity, Inclusive of Undrawn $2.25 B Revolver & $1.81 B Cash Balance as of 9/30/22 Continental Resources, Inc. (NYSE:CLR) (the "Company") today announced its third quarter 2022 operating and financial results. Logo: https://mma.prnewswire.com/media/95419/continenta
OKLAHOMA CITY, Oct. 25, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) (the "Company") plans to announce third quarter 2022 results and file the Company's Quarterly Report on Form 10-Q on Wednesday, November 2, 2022, after the close of trading on the New York Stock Exchange. The Company also plans to publish a third quarter 2022 summary presentation to its website at www.CLR.com on Wednesday, November 2, 2022. The Company does not intend to host a conference call in connection with its third quarter 2022 results. Logo - https://mma.prnewswire.com/media/95419/continental_resources_logo.jpg About Continental Resources Continental Resources (NYSE:CLR) is a top 10 independent oil p
OKLAHOMA CITY, Oct. 17, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) today announced that it has entered into an Agreement and Plan of Merger (the "Merger Agreement") with Omega Acquisition, Inc., an Oklahoma corporation ("Merger Sub"), an entity that is owned by Continental's founder, Harold G. Hamm. Pursuant to the Merger Agreement, Merger Sub will commence a tender offer to purchase any and all of the outstanding shares of Continental's common stock at $74.28 per share (the "Offer Price"), other than (i) shares of common stock owned directly or indirectly by Mr. Hamm and the Hamm family and (ii) shares of common stock underlying unvested equity awards issued pursuant to Con
OKLAHOMA CITY, July 28, 2022 /PRNewswire/ -- Strong 2Q22 Results• $1.74 B Cash Flow from Operations (CFO) & $1.23 B Free Cash Flow (FCF) (Non-GAAP)• $1.21 B Net Income; $3.35 per Diluted Share ($1.25 B Adj. Net Income; $3.47 per Adj. Share (Non-GAAP))• $265.2 MM Total Debt Reduction and $814.2 MM Net Debt (Non-GAAP) Reduction in 2Q22 Declaring $0.28 per Share Quarterly Dividend (Payable 8/22/22 to Stockholders of Record on 8/8/22) Updating Various 2022 Guidance Metrics & Differentials• Increasing Projected Return on Capital Employed (ROCE) to ~32% from Previous ~31%• Improving 2022 Crude Oil Differentials per Barrel of Oil to Average ($2.25) to ($3.25) from ($2.50) to ($3.50)• Improvi
Successfully closed strategic acquisitions in the Delaware Basin, doubling basin processing capacity and significantly increasing Crestwood's cash flow contribution from the most active and economic basin in the U.S. Second quarter 2022 net income of $39 million and Adjusted EBITDA1 of $180 million, a 23% increase year-over-year, driven by robust Delaware Basin activity and strong commodity prices, offset by a $13 million winter weather impact in the Williston Basin Strong cash flow profile and balance sheet highlighted by a coverage ratio of 1.7x and a leverage ratio of 3.7x as of June 30, 2022; substantial free cash flow generation in 2023 drives leverage to long-term target of 3.5x Re
OKLAHOMA CITY, July 13, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) (the "Company") plans to announce second quarter 2022 results and file the Company's Quarterly Report on Form 10-Q on Thursday, July 28, 2022, after the close of trading on the New York Stock Exchange. The Company also plans to publish a second quarter 2022 summary presentation to its website at www.CLR.com on Thursday, July 28, 2022. The Company does not intend to host a conference call in connection with its second quarter 2022 results. Logo - https://mma.prnewswire.com/media/95419/continental_resources_logo.jpg As previously announced on June 14, 2022, the Company received a non-binding proposal from Harol
OKLAHOMA CITY, June 14, 2022 /PRNewswire/ -- 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
Oklahoma City, May 4, 2022 /PRNewswire/ -- Outstanding 1Q22 Results• $1.50 B Cash Flow from Operations (CFO) & $1.15 B Free Cash Flow (FCF) (Non-GAAP)• $597.8 MM Net Income; $1.65 per Diluted Share ($960.0 MM Adj. Net Income; $2.65 per Adj. Share (Non-GAAP)) Increasing Shareholder Return of Capital• Quarterly Dividend Increased to $0.28 per Share (~2.0% Dividend Yield1)• $100 MM Shares Repurchased in 1Q22 (~$960 MM Remaining in Share Buyback Program)• $264 MM Total Debt Reduction in 1Q22 (Inclusive of $450 MM Powder River Basin Acquisition & Initial $63 MM Summit Carbon Capture Investment) Enhancing 2022 Projections• Increased Projected Return on Capital Employed (ROCE) to
OKLAHOMA CITY, April 27, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE:CLR) (the "Company") today announced an increased quarterly dividend, and its first quarter 2022 production results, as well as improvements to its 2022 projected return on capital employed1 from its 2022 capital program enhancement. Logo - https://mma.prnewswire.com/media/95419/continental_resources_logo.jpg The Company's Board of Directors recently approved increasing the Company's quarterly dividend to $0.28 per share, payable on May 23, 2022 to stockholders of record on May 9, 2022. This dividend represents a $0.05, or approximately 22%, increase to the Company's $0.23 per share quarterly dividend paid in fi
The S&P 500 is showing a recovery in November, but experts think it’s still too early to tell if October’s lows were this cycle’s rough bottom: the situation hasn’t improved enough to consider the equity markets in bull territory just yet. The Three Major Indexes The S&P 500’s last peak happened on Jan. 3 of this year, hitting a record high of 4,818.62 in January 2022. It’s been a slow and tortuous ride down to the last low point of 3491.58 on Oct. 13. While the index has recovered slightly since its lowest point of 2022 — closing this week at 3,992.00 — the regained territory is not enough to declare the market back in a bull cycle. So far this month, the S&P 500 is up almost 10% from N
Continental Resources (NYSE:CLR) reported quarterly earnings of $2.88 per share which missed the analyst consensus estimate of $2.93 by 1.71 percent. This is a 140 percent increase over earnings of $1.20 per share from the same period last year. The company reported quarterly sales of $2.45 billion which missed the analyst consensus estimate of $2.50 billion by 2.12 percent. This is a 82.48 percent increase over sales of $1.34 billion the same period last year.
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Mizuho analyst Vincent Lovaglio maintains Continental Resources (NYSE:CLR) with a Neutral and raises the price target from $72 to $74.
Upgrades Guggenheim upgraded the previous rating for Teladoc Health Inc (NYSE:TDOC) from Sell to Neutral. Teladoc Health earned $0.44 in the second quarter, compared to $0.86 in the year-ago quarter. The stock has a 52-week-high of $95.71 and a 52-week-low of $23.08. At the end of the last trading period, Teladoc Health closed at $24.03. Guggenheim upgraded the previous rating for ServiceNow Inc (NYSE:NOW) from Neutral to Buy. In the second quarter, ServiceNow showed an EPS of $1.62, compared to $1.42 from the year-ago quarter. At the moment, the stock has a 52-week-high of $651.41 and a 52-week-low of $337.00. ServiceNow closed at $360.67 at the end of the last trading period. Accordi
Within the last quarter, Continental Resources (NYSE:CLR) has observed the following analyst ratings: Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 0 1 2 0 Last 30D 0 0 0 0 0 1M Ago 0 0 1 1 0 2M Ago 0 0 0 1 0 3M Ago 1 0 0 0 0 According to 4 analyst offering 12-month price targets in the last 3 months, Continental Resources has an average price target of $75.75 with a high of $85.00 and a low of $70.00. Below is a summary of how these 4 analysts rated Continental Resources over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more ne
Omega Acquisition, Inc. (the "Purchaser"), an Oklahoma corporation, 100% of the capital stock of which is owned by Harold G. Hamm, the founder and Chairman of the Board of Directors (the "Board") of Continental Resources, Inc. ("Continental" or the "Company"), today commenced a tender offer (the "Offer") to acquire all of the outstanding shares of common stock, par value $0.01 per share (the "Shares") of the Company, other than: (i) Shares owned by Mr. Hamm, certain of his family members and their affiliated entities (collectively, the "Hamm Family"); and (ii) Shares underlying unvested Company restricted stock awards (such Shares, together with the Shares referred to in clause (i), the "Ro
Raymond James analyst John Freeman downgrades Continental Resources (NYSE:CLR) from Outperform to Market Perform.
The energy sector has been a silver lining in a brutal market in 2022, and Morgan Stanley said Wednesday there are still opportunities in the oil and gas space for selective investors. The Analyst: Morgan Stanley analyst Devin McDermott issued the following three ratings changes: Upgraded EOG Resources Inc (NYSE:EOG) from Neutral to Buy, cut price target from $149 to $147. Downgraded Pioneer Natural Resources Co (NYSE:PXD) from Neutral to Underweight, cut price target from $267 to $261. Upgraded Continental Resources, Inc. (NYSE:CLR) from Underweight to Neutral, raised price target from $67 to $74. Related Link: Is Putin Bluffing? How Stocks Are Reacting On Heels Of Thinly-Veiled Nuk
Upgrades According to Raymond James, the prior rating for Fortis Inc (NYSE:FTS) was changed from Market Perform to Outperform. In the second quarter, Fortis showed an EPS of $0.45, compared to $0.45 from the year-ago quarter. The stock has a 52-week-high of $51.66 and a 52-week-low of $34.76. At the end of the last trading period, Fortis closed at $37.76. According to UBS, the prior rating for BanColombia SA (NYSE:CIB) was changed from Sell to Neutral. For the second quarter, BanColombia had an EPS of $1.78, compared to year-ago quarter EPS of $1.28. The current stock performance of BanColombia shows a 52-week-high of $45.98 and a 52-week-low of $23.97. Moreover, at the end of the last tra