Siebert Williams Shank & Co analyst Gabriele Sorbara initiated coverage with a Hold rating on Continental Resources (CLR) today and set a price target of $28.00. The company’s shares closed last Wednesday at $27.54.
According to TipRanks.com, Sorbara has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -5.7% and a 33.5% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Magnolia Oil & Gas, Matador Resources, and Laredo Petroleum.
Currently, the analyst consensus on Continental Resources is a Hold with an average price target of $27.57, a 4.5% upside from current levels. In a report issued on April 19, Citigroup also maintained a Hold rating on the stock with a $29.00 price target.
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Based on Continental Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $838 million and GAAP net loss of $92.5 million. In comparison, last year the company earned revenue of $1.2 billion and had a net profit of $194 million.
Based on the recent corporate insider activity of 29 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, development 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.
