After Piper Jaffray and Barclays gave Continental Resources (NYSE: CLR) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Scott Hanold reiterated a Buy rating on Continental Resources yesterday and set a price target of $81. The company’s shares opened today at $61.95.
According to TipRanks.com, Hanold is a 1-star analyst with an average return of -0.9% and a 44.4% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Sanchez Energy Corporation.
Currently, the analyst consensus on Continental Resources is a Moderate Buy with an average price target of $76.90.
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Based on Continental Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $242 million. In comparison, last year the company had a GAAP net loss of $63.56 million.
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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.
