BMO Capital Sticks to Their Buy Rating for Continental Resources (CLR)

BMO Capital analyst Phillip Jungwirth maintained a Buy rating on Continental Resources (CLRResearch Report) today and set a price target of $55. The company’s shares opened today at $46.41.

According to TipRanks.com, Jungwirth is a 1-star analyst with an average return of -1.3% and a 44.0% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Jagged Peak Energy Inc, and Occidental Petroleum.

Currently, the analyst consensus on Continental Resources is a Moderate Buy with an average price target of $66.31, a 42.9% upside from current levels. In a report issued on January 7, RBC Capital also reiterated a Buy rating on the stock with a $55 price target.

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Based on Continental Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $314 million. In comparison, last year the company had a net profit of $842 million.

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Continental Resources, Inc. engages in the exploration 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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