Is Selling Continental Resources, Inc. Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Continental Resources, Inc. Here a Winning Strategy? Option Traders Hate The Stock

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 684,986 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 -25.26% below today’s ($52.85) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, August 14, the company rating was upgraded by Howard Weil. The firm has “Hold” rating by Wunderlich given on Wednesday, September 9. JP Morgan initiated the shares of CLR in a report on Wednesday, December 9 with “Overweight” rating. Scotia Capital maintained Continental Resources, Inc. (NYSE:CLR) rating on Monday, June 27. Scotia Capital has “Outperform” rating and $17 price target. The firm earned “Focus Stock” rating on Friday, February 26 by Howard Weil. The firm has “Equal-Weight” rating given on Wednesday, April 27 by Capital One. The stock has “Buy” rating given by Deutsche Bank on Wednesday, April 13. Deutsche Bank maintained the shares of CLR in a report on Tuesday, June 14 with “Buy” rating. The stock of Continental Resources, Inc. (NYSE:CLR) has “Buy” rating given on Friday, January 15 by Tudor Pickering. The firm earned “Outperform” rating on Friday, August 7 by RBC Capital Markets.

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.
Alliancebernstein L P has 0% invested in the company for 64,793 shares. Manufacturers Life Ins Company The has 12,133 shares for 0% of their US portfolio. The California-based Cambrian Capital Partnership has invested 3.25% in Continental Resources, Inc. (NYSE:CLR). Geode Management Ltd Limited Liability Company accumulated 0.01% or 511,008 shares. Bokf Na accumulated 14,733 shares or 0.02% of the stock. The New York-based Morgan Stanley has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). Moreover, Tiaa Cref Management Limited Com has 0.09% invested in Continental Resources, Inc. (NYSE:CLR) for 2.72 million shares. Utah Retirement owns 15,704 shares or 0.02% of their US portfolio. Holt Capital Advsrs Lc Dba Holt Capital Partners L P holds 22,150 shares or 0.41% of its portfolio. International Group Inc, a New York-based fund reported 5,318 shares. Moreover, Tph Asset Mgmt Limited Company has 0.15% invested in Continental Resources, Inc. (NYSE:CLR) for 34,360 shares. Vsr Financial Svcs last reported 0.07% of its portfolio in the stock. Mizuho Asset Management Coltd accumulated 803 shares or 0.01% of the stock. Brown Advisory Inc holds 0% or 17,220 shares in its portfolio. Nicholas Inv L P has invested 0.47% of its portfolio in Continental Resources, Inc. (NYSE:CLR).

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 10 selling transactions for $3.44 million net activity. Another trade for 13,500 shares valued at $572,698 was sold by Hart John D. 10,000 shares were sold by Eissenstat Eric Spencer, worth $433,201. Gould Gary E sold $251,250 worth of stock. $590,878 worth of Continental Resources, Inc. (NYSE:CLR) shares were sold by Stark Jack H. BOREN DAVID L also sold $205,502 worth of Continental Resources, Inc. (NYSE:CLR) shares. McNabb John T II also sold $221,959 worth of Continental Resources, Inc. (NYSE:CLR) shares. $609,357 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Brown Glen A on Friday, May 20.

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 $20.18 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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