Continental Resources, Inc. Can Burn Your Long Portfolio. Option Traders Are Bearish

 Continental Resources, Inc. Can Burn Your Long Portfolio. Option Traders Are Bearish

In today’s session Continental Resources, Inc. (CLR) recorded an unusually high (3,000) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious CLR decrease. With 3,000 contracts traded and 1324 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: CLR170120P00043000 closed last at: $2 or 9.1% down. About 1.58 million shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 130.55% since March 1, 2016 and is uptrending. It has outperformed by 121.31% the S&P500.

Analysts await Continental Resources, Inc. (NYSE:CLR) to report earnings on November, 2. They expect $-0.11 earnings per share, up 8.33% or $0.01 from last year’s $-0.12 per share. After $-0.18 actual earnings per share reported by Continental Resources, Inc. for the previous quarter, Wall Street now forecasts -38.89% EPS growth.

Continental Resources, Inc. (NYSE:CLR) Ratings Coverage

Out of 26 analysts covering Continental Resources Inc. (NYSE:CLR), 16 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 62% are positive. $59 is the highest target while $14 is the lowest. The $39.50 average target is -24.01% below today’s ($51.98) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Equal-Weight” rating on Wednesday, April 27 by Capital One. The firm has “Hold” rating given on Wednesday, September 9 by Wunderlich. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Positive” rating by Susquehanna on Tuesday, January 26. The company was initiated on Tuesday, August 16 by Wells Fargo. The company was maintained on Wednesday, August 10 by Deutsche Bank. The firm has “Equal Weight” rating by Stephens given on Tuesday, October 6. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, August 5. The rating was initiated by Credit Suisse on Monday, June 6 with “Neutral”. The rating was upgraded by Howard Weil to “Focus Stock” on Friday, February 26. The stock has “Buy” rating given by Deutsche Bank on Wednesday, April 13.

Insitutional Activity: The institutional sentiment is 1.08 in Q2 2016. Its the same as in 2016Q1. The ratio is the same, as 43 funds sold all Continental Resources, Inc. shares owned while 105 reduced positions. only 61 funds bought stakes while 99 increased positions. They now own 86.18 million shares or 0.46% less from 86.58 million shares in 2016Q1.
Penn Capital Management Company Incorporated reported 8,097 shares or 0.02% of all its holdings. Canada Pension Plan Investment Board has invested 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR). State Street has 2.65 million shares for 0.01% of their US portfolio. Commonwealth Equity Svcs Incorporated holds 0.01% or 24,937 shares in its portfolio. Geosphere last reported 120,000 shares in the company. Barbara Oil last reported 20,000 shares in the company. Macquarie Gp Limited, a Australia-based fund reported 1,000 shares. Next Financial Grp has 0% invested in the company for 180 shares. Frontier Cap Management Lc last reported 0% of its portfolio in the stock. Avalon Advsrs Lc has 28,690 shares for 0.05% of their US portfolio. Bridges Invest Counsel Inc, a Nebraska-based fund reported 30,805 shares. Parametric Portfolio Assoc Limited Com owns 83,921 shares or 0.01% of their US portfolio. Deprince Race & Zollo holds 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 11,000 shares. Nicholas Investment L P holds 150,030 shares or 0.47% of its portfolio. Parkwood Ltd Liability Corp has 26,394 shares for 0.23% of their US portfolio.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 selling transactions for $3.44 million net activity. Brown Glen A also sold $609,357 worth of Continental Resources, Inc. (NYSE:CLR) on Friday, May 20. The insider Gould Gary E sold $221,601. Shares for $572,698 were sold by Hart John D. McNabb John T II also sold $221,959 worth of Continental Resources, Inc. (NYSE:CLR) on Friday, August 5. Another trade for 5,000 shares valued at $205,502 was sold by BOREN DAVID L. $590,878 worth of Continental Resources, Inc. (NYSE:CLR) shares were sold by Stark Jack H. 3,200 Continental Resources, Inc. (NYSE:CLR) shares with value of $148,918 were sold by Owen Steven K.

Continental Resources, Inc. is an independent natural gas and crude oil exploration and production firm with properties in the North, South and East regions of the United States. The company has a market cap of $19.85 billion. 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. It currently has negative earnings. 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 , Sooner Trend Anadarko Canadian Kingfisher (STACK), Northwest Cana and Arkoma Woodford areas of Oklahoma.

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