Cowen & Co. Sticks to Their Hold Rating for Continental Resources (CLR)


In a report released yesterday, David Deckelbaum from Cowen & Co. reiterated a Hold rating on Continental Resources (CLR), with a price target of $49. The company’s shares opened today at $46.10.

According to TipRanks.com, Deckelbaum is ranked 0 out of 5 stars with an average return of -23.9% and a 17.2% success rate. Deckelbaum covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Occidental Petroleum, and Oasis Petroleum Inc.

Currently, the analyst consensus on Continental Resources is a Strong Buy with an average price target of $64.77, which is a 40.5% upside from current levels. In a report issued on January 14, J.P. Morgan also maintained a Hold 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 $842 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.

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