Continental Resources, Inc. Is a Sell; Strong Momentum from Option Traders


 Continental Resources, Inc. Is a Sell; Strong Momentum from Option Traders

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 1.17 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 -25.09% below today’s ($52.73) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, April 6 by Stifel Nicolaus. The firm has “Buy” rating by Bank of America given on Tuesday, January 5. Deutsche Bank maintained the stock with “Hold” rating in Wednesday, December 9 report. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, August 5. The company was maintained on Monday, June 27 by Scotia Capital. Howard Weil upgraded the stock to “Sector Outperform” rating in Friday, August 14 report. Deutsche Bank maintained Continental Resources, Inc. (NYSE:CLR) rating on Wednesday, October 14. Deutsche Bank has “Hold” rating and $38 price target. The company was maintained on Thursday, August 25 by Nomura. The firm has “Neutral” rating by Suntrust Robinson given on Tuesday, December 15. Wunderlich maintained it with “Buy” rating and $50 target price in Friday, May 6 report.

Insitutional Activity: The institutional sentiment is 1.08 in Q2 2016. Its the same as in 2016Q1. The ratio is flat, 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.
Mad River Investors last reported 2.16% of its portfolio in the stock. Royal Retail Bank Of Canada accumulated 659,163 shares or 0.02% of the stock. Moreover, Credit Agricole S A has 0.01% invested in Continental Resources, Inc. (NYSE:CLR) for 36,008 shares. Rainier Inv Management Lc last reported 238,000 shares in the company. Sumitomo Mitsui Asset Management Company Ltd has invested 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Renaissance Ltd Liability Corporation has 0.01% invested in the company for 130,800 shares. Viking Fund Mngmt Limited Liability Corp last reported 380,000 shares in the company. The California-based Lpl Financial has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). Sg Americas Ltd Co holds 0% or 7,683 shares in its portfolio. Moreover, Morgan Dempsey Capital Mngmt Lc has 0.03% invested in Continental Resources, Inc. (NYSE:CLR) for 1,721 shares. Bnp Paribas Arbitrage, a New York-based fund reported 32,530 shares. State Bank Of New York Mellon accumulated 0.01% or 715,902 shares. Millennium Mgmt Lc holds 0.02% or 165,028 shares in its portfolio. Whittier has 0.26% invested in the company for 130,853 shares. Picton Mahoney Asset, a Ontario – Canada-based fund reported 232,700 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 10 selling transactions for $3.44 million net activity. Eissenstat Eric Spencer also sold $433,201 worth of Continental Resources, Inc. (NYSE:CLR) shares. Gould Gary E sold $251,250 worth of stock or 5,000 shares. On Friday, August 26 the insider Stark Jack H sold $590,878. $187,343 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Hart John D. Brown Glen A sold $609,357 worth of stock or 15,000 shares. McNabb John T II sold $221,959 worth of Continental Resources, Inc. (NYSE:CLR) on Friday, August 5. Owen Steven K also sold $148,918 worth of Continental Resources, Inc. (NYSE:CLR) on Wednesday, September 21.

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 $20.14 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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