Benzinga | Aug 23, 2021 10:43AM EDT

Why Continental Resources Shares Are Moving Today

Continental Resources, Inc. (NYSE:CLR) shares are trading higher by 5.7% at $35.74 Monday morning after Wells Fargo upgraded the stock from Equal-Weight to Overweight and announced a $45 price target.

Morgan Stanley analyst Devin McDermott also maintained Continental Resources with an Underweight and raised the price target from $33 to $34.

Continental Resources is a U.S. oil and gas producer targeting in the Bakken Shale in North Dakota and the Scoop/Stack plays in Oklahoma. At the end of 2020, the company reported net proven reserves of 1.1 billion barrels of oil equivalent. Net production averaged 300 thousand barrels of oil equivalent per day in 2019, at a ratio of 54% oil and 46% natural gas and NGLs.

Continental Resources has a 52-week high of $40.41 and a 52-week low of $11.09.