Siebert Williams Shank & Co Initiates a Hold Rating on Continental Resources (CLR)
Siebert Williams Shank & Co analyst Gabriele Sorbara initiated coverage with a Hold rating on Continental Resources (CLR) today and set a price target of $18.00. The company’s shares closed last Friday at $16.61.
According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -22.6% and a 25.3% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Matador Resources, Concho Resources, and Laredo Petroleum.
The word on The Street in general, suggests a Hold analyst consensus rating for Continental Resources with a $11.94 average price target, a -28.8% downside from current levels. In a report issued on June 9, MKM Partners also downgraded the stock to Hold with a $19.00 price target.
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The company has a one-year high of $43.57 and a one-year low of $6.90. Currently, Continental Resources has an average volume of 6.47M.
Based on the recent corporate insider activity of 28 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.
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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.