Morgan Stanley analyst Devin McDermott maintained a Buy rating on Continental Resources (CLR) today and set a price target of $43.00. The company’s shares closed last Monday at $28.70, close to its 52-week low of $27.26.
According to TipRanks.com, McDermott is a 2-star analyst with an average return of 0.4% and a 45.1% success rate. McDermott covers the Basic Materials sector, focusing on stocks such as Occidental Petroleum, Plains All American, and Magellan Midstream.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Continental Resources with a $40.00 average price target, representing a 40.1% upside. In a report issued on January 13, RBC Capital also maintained a Buy rating on the stock with a $48.00 price target.
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The company has a one-year high of $52.04 and a one-year low of $27.26. Currently, Continental Resources has an average volume of 2.02M.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CLR in relation to earlier this year.
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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.
