Mizuho Securities Downgrades Continental Resources (CLR) to Neutral

Mizuho Securities analyst Paul Sankey downgraded Continental Resources (NYSE: CLR) from Buy to Neutral with a price target of $38.00.

The analyst comments "CLR has taken major steps to reduce leverage and has initiated its own cash return strategy too, but we have too much concern about the trajectory of spending and the quality of the unconventional opportunity longer-term (extent of oil-prone targets in Oklahoma & higher-quality targets in the Bakken) to remain Buy-rated on the name."

For an analyst ratings summary and ratings history on Continental Resources click here. For more ratings news on Continental Resources click here.

Shares of Continental Resources closed at $27.98 yesterday.

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