There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Chesapeake Energy (CHK) and Continental Resources (CLR) with bullish sentiments.
Chesapeake Energy (CHK)
Morgan Stanley analyst Devin McDermott maintained a Buy rating on Chesapeake Energy today and set a price target of $2.30. The company’s shares closed last Monday at $1.39, close to its 52-week low of $1.26.
According to TipRanks.com, McDermott is a 4-star analyst with an average return of 6.3% and a 48.2% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Cheniere Energy Partners LP, Occidental Petroleum, and Cheniere Energy Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Chesapeake Energy with a $1.70 average price target.
See today’s analyst top recommended stocks >>
Continental Resources (CLR)
In a report released today, Drew Venker from Morgan Stanley maintained a Buy rating on Continental Resources, with a price target of $43.00. The company’s shares closed last Monday at $28.46, close to its 52-week low of $27.26.
According to TipRanks.com, Venker is ranked 0 out of 5 stars with an average return of -13.2% and a 38.8% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Gulfport Energy Corp, and Range Resources Corp.
Currently, the analyst consensus on Continental Resources is a Moderate Buy with an average price target of $44.78.
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.