What Next for Continental Resources, Inc. Stock After Today’s Bearish Options Activity?


 What Next for Continental Resources, Inc. Stock After Today's Bearish 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 468,531 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 -25.06% below today’s ($52.71) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by Stifel Nicolaus on Wednesday, April 6 to “Hold”. The firm has “Neutral” rating given on Monday, August 24 by Bank of America. As per Monday, June 27, the company rating was maintained by Scotia Capital. The rating was maintained by Nomura on Thursday, August 25 with “Buy”. The firm earned “Hold” rating on Wednesday, September 9 by Wunderlich. Seaport Global upgraded the stock to “Buy” rating in Wednesday, March 30 report. As per Wednesday, April 27, the company rating was downgraded by Capital One. The firm has “Buy” rating given on Tuesday, January 5 by Bank of America. As per Monday, June 6, the company rating was initiated by Credit Suisse. As per Friday, February 26, the company rating was upgraded by Howard Weil.

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.
Andra Ap holds 5,900 shares or 0.01% of its portfolio. Cushing Asset Mngmt Limited Partnership holds 0.02% or 15,477 shares in its portfolio. Rafferty Asset Mngmt Limited Liability Corporation last reported 9,363 shares in the company. Winslow Evans Crocker holds 8,176 shares or 0% of its portfolio. The Texas-based Insurance Tx has invested 0.23% in Continental Resources, Inc. (NYSE:CLR). Raymond James Tru Na last reported 0.04% of its portfolio in the stock. Moreover, Nomura Asset Mgmt has 0.01% invested in Continental Resources, Inc. (NYSE:CLR) for 14,140 shares. Moreover, Agf Invests has 0.03% invested in Continental Resources, Inc. (NYSE:CLR) for 66,509 shares. Moreover, Nordea Invest Mgmt Ab has 0% invested in Continental Resources, Inc. (NYSE:CLR) for 1,651 shares. The New York-based Jennison Associates has invested 0.04% in Continental Resources, Inc. (NYSE:CLR). Geneva Advisors Limited Liability Co owns 10,131 shares or 0.01% of their US portfolio. Next Financial Group Incorporated has invested 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Sei Investments Commerce has invested 0.02% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Renaissance Technologies Limited Liability Corporation accumulated 130,800 shares or 0.01% of the stock. Bokf Na accumulated 0.02% or 14,733 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 sales for $3.44 million net activity. $572,698 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Hart John D on Tuesday, June 14. Shares for $609,357 were sold by Brown Glen A on Friday, May 20. The insider Eissenstat Eric Spencer sold $433,201. McNabb John T II sold $221,959 worth of stock. Gould Gary E sold $251,250 worth of stock or 5,000 shares. $205,502 worth of Continental Resources, Inc. (NYSE:CLR) was sold by BOREN DAVID L on Friday, May 20. On Friday, August 26 Stark Jack H sold $590,878 worth of the stock or 12,000 shares.

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 $20.13 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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