KeyBanc Believes Continental Resources (CLR) Won’t Stop Here

KeyBanc analyst Leo Mariani maintained a Buy rating on Continental Resources (CLRResearch Report) today and set a price target of $68.00. The company’s shares closed last Wednesday at $63.67, close to its 52-week high of $64.53.

According to TipRanks.com, Mariani is a top 100 analyst with an average return of 35.0% and a 65.4% success rate. Mariani covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Whiting Petroleum Corporation, and California Resources Corp.

Currently, the analyst consensus on Continental Resources is a Moderate Buy with an average price target of $64.44, implying a 1.1% upside from current levels. In a report issued on March 14, Wells Fargo also maintained a Buy rating on the stock with a $82.00 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 $1.93 billion and net profit of $743 million. In comparison, last year the company earned revenue of $838 million and had a GAAP net loss of $92.5 million.

Based on the recent corporate insider activity of 56 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.

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