In a report issued on May 4, Vincent Lovaglio from Mizuho Securities maintained a Hold rating on Continental Resources (CLR – Research Report), with a price target of $72.00. The company’s shares closed last Thursday at $61.01, close to its 52-week high of $66.86.
According to TipRanks.com, Lovaglio is a top 25 analyst with an average return of 58.4% and a 91.2% success rate. Lovaglio covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Southwestern Energy, and Comstock Resources.
Continental Resources has an analyst consensus of Moderate Buy, with a price target consensus of $73.61, a 20.4% upside from current levels. In a report issued on April 22, Cowen & Co. also maintained a Hold rating on the stock with a $64.00 price target.
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 57 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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