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Bernstein Thinks Continental Resources’ Stock is Going to Recover


According to The Fly, in a report released yesterday, Max Warburton from Bernstein maintained a Buy rating on Continental Resources (CLR). The company’s shares closed yesterday at $46.11, close to its 52-week low of $43.53.

According to TipRanks.com, Warburton is ranked #1837 out of 5121 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Continental Resources with a $70.15 average price target, a 52.1% upside from current levels. In a report issued on November 25, Stifel Nicolaus also reiterated a Buy rating on the stock with a $70 price target.

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Based on Continental Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $314 million. In comparison, last year the company had a net profit of $10.62 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.

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Continental Resources, Inc. engages in the exploration and production of crude oil and natural gas. Its operations are focuses on the MT Bakken; Red River Unites; STACK; Arkoma Woodford; SCOOP; and Other. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.