Short Term Price Target on Continental Resources (CLR)

Continental Resources (NYSE:CLR) : The highest short term price target forecast on Continental Resources (NYSE: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, Inc. has dropped 1.33% in the last five trading days, however, the shares have posted positive gains of 6.72% in the last 4 weeks. Continental Resources, Inc. is up 49.06% in the last 3-month period. Year-to-Date the stock performance stands at 97%. Also, Equity Analysts at the Deutsche Bank maintains the rating on Continental Resources (NYSE:CLR). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $48 per share to $50 per share. The rating by the firm was issued on June 14, 2016.

Continental Resources (NYSE:CLR) : The consensus on Continental Resources (NYSE: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 (NYSE:CLR).

Continental Resources (NYSE:CLR): The stock opened at $45.70 on Thursday but the bulls could not build on the opening and the stock topped out at $45.82 for the day. The stock traded down to $44.57 during the day, due to lack of any buying support eventually closed down at $45.27 with a loss of -1.20% for the day. The stock had closed at $45.82 on the previous day. The total traded volume was 3,177,167 shares.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (SVP, GC, CRO & Secretary) of Continental Resources, Inc, Eissenstat Eric Spencer had sold 10,000 shares worth of $453,500 in a transaction dated June 23, 2016. In this transaction, 10,000 shares were sold at $45.35 per share.

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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