Continental Resources, Inc. Unusual Bearish Options Activity Means Higher Risks


 Continental Resources, Inc. Unusual Bearish Options Activity Means Higher Risks

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 1.78 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 -24.26% below today’s ($52.15) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Friday, August 14 the stock rating was upgraded by Howard Weil to “Sector Outperform”. As per Tuesday, January 26, the company rating was maintained by Susquehanna. Deutsche Bank upgraded the shares of CLR in a report on Wednesday, April 13 to “Buy” rating. The firm earned “Outperform” rating on Friday, November 6 by RBC Capital Markets. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Buy” rating by Bank of America on Tuesday, January 5. The company was maintained on Friday, August 19 by Wunderlich. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Equal-Weight” rating by Capital One on Wednesday, April 27. As per Saturday, August 15, the company rating was upgraded by Scotia Capital. Credit Suisse initiated Continental Resources, Inc. (NYSE:CLR) rating on Monday, June 6. Credit Suisse has “Neutral” rating and $43 price target. On Wednesday, April 6 the stock rating was downgraded by Stifel Nicolaus to “Hold”.

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.
First Republic Investment Mgmt accumulated 0.04% or 95,017 shares. The Switzerland-based Credit Suisse Ag has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). National Asset Mngmt Inc holds 0.05% or 5,099 shares in its portfolio. Hap Trading Ltd Liability Corporation last reported 15,022 shares in the company. Bokf Na owns 14,733 shares or 0.02% of their US portfolio. Cambridge Advisors Inc holds 13,428 shares or 0.01% of its portfolio. Cornerstone Advsr Incorporated holds 0% or 76 shares in its portfolio. Inc Ok reported 224,595 shares or 0% of all its holdings. Millennium Mngmt Limited Liability Corp accumulated 0.02% or 165,028 shares. Dekabank Deutsche Girozentrale accumulated 36,967 shares or 0.02% of the stock. Columbus Hill Capital Management L P, a New Jersey-based fund reported 1.34 million shares. Blackrock Invest Management Ltd Limited Liability Company has 44,653 shares for 0% of their US portfolio. Synovus Fin accumulated 0% or 2,885 shares. The Texas-based Bridgeway Mngmt has invested 0.44% in Continental Resources, Inc. (NYSE:CLR). Kbc Grp Inc Inc Nv owns 4,961 shares or 0% of their US portfolio.

Insider Transactions: Since May 20, 2016, the stock had 0 insider buys, and 10 sales for $3.44 million net activity. The insider Stark Jack H sold 12,000 shares worth $590,878. $433,201 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Eissenstat Eric Spencer on Tuesday, June 7. Shares for $609,357 were sold by Brown Glen A. Hart John D sold $572,698 worth of stock. BOREN DAVID L sold $205,502 worth of stock. Another trade for 3,200 shares valued at $148,918 was made by Owen Steven K on Wednesday, September 21. Another trade for 5,000 shares valued at $221,959 was sold by McNabb John T II.

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 $19.92 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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