Continental Resources (CLR) Gets a Sell Rating from Morgan Stanley

By Austin Angelo

In a report released today, Devin McDermott from Morgan Stanley maintained a Sell rating on Continental Resources (CLRResearch Report), with a price target of $8.00. The company’s shares closed last Monday at $14.68.

According to, McDermott ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -8.3% and a 32.5% success rate. McDermott covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Chesapeake Energy, and Concho Resources.

Currently, the analyst consensus on Continental Resources is a Hold with an average price target of $12.27, representing a -11.4% downside. In a report issued on May 4, Tudor Pickering also downgraded the stock to Sell.

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Continental Resources’ market cap is currently $5.36B and has a P/E ratio of 12.00. The company has a Price to Book ratio of 0.73.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.