Continental Resources Inc (NYSE:CLR) Has Just Had Its Target Price per Share Upped by Equity Research Analysts at Jefferies & Co to $31.00


Stock Analysis:Continental Resources Inc (NYSE:CLR) Stock Target Raised

In an analyst note issued to clients by Jefferies & Co on Wednesday, 2 December, Continental Resources Inc (NYSE:CLR) had its target PPS raised to $31.00. The firm now has a solid Underperform rating on shares.

From a total of 30 analysts covering Continental Resources Inc. (NYSE:CLR) stock, 17 rate it a ”Buy”, 1 a “Sell”, and 13 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $59 while the lowest target price is $30. The mean of all analyst targets is $42.2 with a 20.48% above today’s ($35.01) stock price. Continental Resources Inc. was the topic of 25 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on November 9 with “Equal-Weight” rating. Bank of America downgraded shares to “Neutral” rating and $44 target share price in a report from an August 24. Wunderlich upgraded CLR stock in a recent report from November 6 to “Buy” rating. Howard Weil upgraded the rating on August 14. Howard Weil has a “Sector Outperform” rating and a $58 price target on shares. Finally, Scotia Capital upgraded the stock to “Sector Perform” rating in a report issued on an August 15.

Approximately 497,195 shares of stock traded hands. Continental Resources, Inc. (NYSE:CLR) has declined 30.98% since April 29, 2015 and is downtrending. It has underperformed by 30.78% the S&P500.

Continental Resources, Inc. is an independent natural gas and crude oil exploration and production company. The company has a market cap of $13.05 billion. The Firm owns properties in the North, South and East regions of the United States. It currently has negative earnings. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.

According to Zacks Investment Research, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations.” Get a free copy of the Zacks research report on Continental Resources, Inc. (CLR).