Continental Resources (CLR) Receives a Buy from Barclays


Barclays analyst Jeanine Wai maintained a Buy rating on Continental Resources (CLR) on May 22 and set a price target of $59. The company’s shares closed yesterday at $38.62, close to its 52-week low of $35.54.

According to TipRanks.com, Wai is ranked 0 out of 5 stars with an average return of -8.7% and a 27.0% success rate. Wai covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Devon Energy Corp, and Concho Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Continental Resources with a $58.57 average price target, implying a 51.7% upside from current levels. In a report issued on May 8, Morgan Stanley also maintained a Buy rating on the stock with a $61 price target.

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Continental Resources’ market cap is currently $14.55B and has a P/E ratio of 15.35. The company has a Price to Book ratio of 2.30.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLR in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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