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. The stock decreased 2.13% or $1.13 on October 4, hitting $51.84. About 2.56 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 EPS, up 8.33% or $0.01 from last year’s $-0.12 per share. After $-0.18 actual EPS 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 -23.80% below today’s ($51.84) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Wunderlich on Friday, May 6 with “Buy”. The firm has “Neutral” rating given on Monday, June 6 by Credit Suisse. The company was upgraded on Saturday, August 15 by Scotia Capital. The stock has “Buy” rating given by Deutsche Bank on Wednesday, April 13. KLR Group downgraded it to “Accumulate” rating and $54 target price in Monday, July 18 report. Bank of America downgraded it to “Neutral” rating and $44 target price in Monday, August 24 report. The firm has “Sector Outperform” rating given on Monday, May 16 by Howard Weil. The firm has “Focus Stock” rating by Howard Weil given on Friday, February 26. Barclays Capital maintained Continental Resources, Inc. (NYSE:CLR) on Monday, November 9 with “Equal-Weight” rating. Deutsche Bank maintained Continental Resources, Inc. (NYSE:CLR) rating on Wednesday, December 9. Deutsche Bank has “Hold” rating and $35 price target.
Insitutional Activity: The institutional sentiment is 1.08 in 2016 Q2. 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.
Sei Invests holds 0.02% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 80,258 shares. Thompson Davis Communication reported 453 shares or 0.03% of all its holdings. North Star Inv Management, a Illinois-based fund reported 200 shares. Reaves W H And holds 0.19% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 119,150 shares. Highland Cap Mngmt Ltd Partnership holds 252,021 shares or 0.47% of its portfolio. Gabelli Funds Ltd reported 66,000 shares or 0.02% of all its holdings. California State Teachers Retirement Systems holds 0.02% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 186,283 shares. Price Michael F holds 1.56% or 260,000 shares in its portfolio. Moreover, Skylands Capital Ltd Com has 0.04% invested in Continental Resources, Inc. (NYSE:CLR) for 5,070 shares. State Of Tennessee Treasury Department holds 200,000 shares or 0.05% of its portfolio. Neuberger Berman Ltd Company, a New York-based fund reported 42,977 shares. Nomura Asset Mngmt Comm Limited accumulated 0.01% or 14,140 shares. The Quebec – Canada-based Fiera Corporation has invested 0% in Continental Resources, Inc. (NYSE:CLR). The Texas-based Next Financial Gp has invested 0% in Continental Resources, Inc. (NYSE:CLR). Pillar Pacific Cap Mgmt, a California-based fund reported 38,720 shares.
Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 10 insider sales for $3.44 million net activity. $609,357 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Brown Glen A on Friday, May 20. On Wednesday, September 21 the insider Hart John D sold $187,343. Shares for $590,878 were sold by Stark Jack H. BOREN DAVID L sold $205,502 worth of stock. Gould Gary E also sold $221,601 worth of Continental Resources, Inc. (NYSE:CLR) on Friday, August 5. $221,959 worth of Continental Resources, Inc. (NYSE:CLR) was sold by McNabb John T II on Friday, August 5. $433,201 worth of shares were sold by Eissenstat Eric Spencer on Tuesday, June 7.
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 $19.80 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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