Continental Resources (CLR) Receives a Sell from Morgan Stanley

In a report released today, Devin McDermott from Morgan Stanley maintained a Sell rating on Continental Resources (CLRResearch Report), with a price target of $67.00. The company’s shares closed last Tuesday at $65.99.

According to TipRanks.com, McDermott is a 5-star analyst with an average return of 8.4% and a 56.0% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Occidental Petroleum, and Southwestern Energy.

The word on The Street in general, suggests a Hold analyst consensus rating for Continental Resources with a $76.00 average price target.

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Based on Continental Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.82 billion and net profit of $598 million. In comparison, last year the company earned revenue of $1.22 billion and had a net profit of $260 million.

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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.

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