Stifel Nicolaus analyst Derrick Whitfield reiterated a Buy rating on Continental Resources (CLR) on November 25 and set a price target of $70. The company’s shares closed yesterday at $45.30, close to its 52-week low of $43.53.
According to TipRanks.com, Whitfield ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.6% and a 29.2% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sundance Energy Australia, and Northern Oil And Gas.
Currently, the analyst consensus on Continental Resources is a Moderate Buy with an average price target of $70.08, representing a 54.7% upside. In a report issued on November 13, Morgan Stanley also maintained a Buy rating on the stock.
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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.
