Continental Resources tumbles on analyst downgrade

|About: Continental Resources, Inc. (CLR)|By:, SA News Editor

Continental Resources (CLR -5.5%) falls sharply after Global Hunter downgrades shares to Neutral from Buy because the price has breached the firm’s $120 target.

Despite CLR’s “strong production growth trajectory,” the firm is no longer urging investors to accumulate shares “due to limited estimated upside.”

Global Hunter downgraded several other energy companies to Neutral: PDCE -4.3%, REXX -6.5%, EOX +0.2%, EPL -7.8% and OAS -0.4%.

The firm upgraded RRC, SFY and KOG to Buy, and KOG to Accumulate.