Continental Resources (CLR) : Analyst Rating Update

Continental Resources (CLR) : The consensus on Continental Resources (CLR) based on 21 analyst recommendation on the company stock is 2.02, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 analyst believes that the stock is a Buy, which can produce decent returns in the future. 8 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Continental Resources (CLR).

Continental Resources (CLR) : The highest short term price target forecast on Continental Resources (CLR) is $63 and the lowest target price is $24. A total of 18 equity analysts are currently covering the company. The average price of all the analysts is $43.14 with a standard deviation of $10.2.

Continental Resources (NYSE:CLR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.67 and $43.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.30. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.24, notching a gain of 0.77% for the day. The total traded volume was 2,644,469 . The stock had closed at $43.90 on the previous day.

Also, In a research note released to the investors, Deutsche Bank maintains its rating on Continental Resources (NYSE:CLR).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $48 per share to $50 per share. The rating by the firm was issued on June 14, 2016. The company shares have rallied 17.07% from its 1 Year high price. On Jul 1, 2016, the shares registered one year high at $47.95 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $42.64 and the 200 Day Moving Average price is recorded at $30.84.

Continental Resources, Inc. is an independent crude oil and natural gas exploration and production company. The Company owns properties in the North, South and East regions of the United States. 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. The Bakken field of North Dakota and Montana is a crude oil resource play. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River, including various plays in the South Central Oklahoma Oil Province (SCOOP), Northwest Cana and Arkoma areas of Oklahoma. The East region comprises undeveloped leasehold acreage east of the Mississippi River.

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