Morgan Stanley Maintains Underweight Rating for Continental Resources: Here's What You Need To Know

Morgan Stanley has decided to maintain its Underweight rating of Continental Resources CLR and raise its price target from $53.00 to $70.00.

Shares of Continental Resources are trading down 3.92% over the last 24 hours, at $59.90 per share.

A move to $70.00 would account for a 16.87% increase from the current share price.

About Continental Resources

Continental Resources is a U.S. oil and gas producer targeting in the Bakken Shale in North Dakota, the Delaware Basin in Texas, and the Scoop/Stack plays in Oklahoma. At the end of 2021, the company reported net proven reserves of 1.6 billion barrels of oil equivalent. Net production averaged 330 thousand barrels of oil equivalent per day in 2020, at a ratio of 49% oil and 51% natural gas and NGLs.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.