Continental Resources, Inc.’s Trend Down, Especially After This Options Activity


 Continental Resources, Inc.'s Trend Down, Especially After This Options Activity

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 935,219 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 -24.88% below today’s ($52.58) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Tuesday, December 15, the company rating was initiated by Suntrust Robinson. The rating was maintained by Nomura on Thursday, January 21 with “Buy”. The stock has “Focus Stock” rating given by Howard Weil on Friday, February 26. Deutsche Bank upgraded Continental Resources, Inc. (NYSE:CLR) on Wednesday, April 13 to “Buy” rating. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Buy” rating by Seaport Global on Wednesday, March 30. The stock of Continental Resources, Inc. (NYSE:CLR) has “Equal Weight” rating given on Tuesday, October 6 by Stephens. Credit Suisse initiated it with “Neutral” rating and $43 target price in Monday, June 6 report. The firm has “Equal-Weight” rating by Capital One given on Wednesday, April 27. Howard Weil downgraded the stock to “Sector Outperform” rating in Monday, May 16 report. The firm has “Outperform” rating by RBC Capital Markets given on Friday, August 7.

Insitutional Activity: The institutional sentiment is 1.08 in 2016 Q2. 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.
Moreover, Ranger Invest Limited Partnership has 0.02% invested in Continental Resources, Inc. (NYSE:CLR) for 5,548 shares. Raymond James Na, a Florida-based fund reported 9,486 shares. Jane Street Group Limited Liability has 37,007 shares for 0.01% of their US portfolio. Moreover, Alphamark Advisors Limited Liability Corporation has 3.03% invested in Continental Resources, Inc. (NYSE:CLR) for 113,644 shares. The Japan-based Sumitomo Mitsui Asset Company Ltd has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). Raymond James & Associates has 0.01% invested in the company for 75,998 shares. Cornerstone Cap Management Llc has 0% invested in the company for 5,439 shares. The Wisconsin-based Morgan Dempsey Cap Limited Liability Corp has invested 0.03% in Continental Resources, Inc. (NYSE:CLR). Ubs Asset Mngmt Americas holds 227,720 shares or 0.01% of its portfolio. Commonwealth Of Pennsylvania Pub School Empls Retrmt has invested 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Reaves W H And Com owns 119,150 shares or 0.19% of their US portfolio. Hodges Capital Mngmt Inc owns 26,500 shares or 0.06% of their US portfolio. Nomura Asset Management Limited holds 14,140 shares or 0.01% of its portfolio. The United Kingdom-based Blackrock Grp Limited has invested 0.02% in Continental Resources, Inc. (NYSE:CLR). Ig Investment Ltd accumulated 3,300 shares or 0% of the stock.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 selling transactions for $3.44 million net activity. The insider McNabb John T II sold $221,959. Gould Gary E sold 5,000 shares worth $251,250. 4,000 shares were sold by Hart John D, worth $187,343 on Wednesday, September 21. BOREN DAVID L also sold $205,502 worth of Continental Resources, Inc. (NYSE:CLR) shares. Owen Steven K sold $148,918 worth of stock. The insider Brown Glen A sold $609,357. $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 $20.08 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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