Guggenheim Keeps a Buy Rating on Continental Resources (CLR)

By Jason Carr

Guggenheim analyst Subash Chandra reiterated a Buy rating on Continental Resources (NYSE: CLR) on October 30 and set a price target of $74. The company’s shares closed yesterday at $52.68.

According to TipRanks.com, Chandra is a 4-star analyst with an average return of 5.8% and a 47.9% success rate. Chandra covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Range Resources Corp, and Anadarko Petroleum.

Currently, the analyst consensus on Continental Resources is a Moderate Buy with an average price target of $75.33, implying a 43.0% upside from current levels. In a report issued on October 17, Goldman Sachs also maintained a Buy rating on the stock.

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The company has a one-year high of $71.95 and a one-year low of $40.69. Currently, Continental Resources has an average volume of 1.87M.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock.

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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.