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


 What's Ahead for Continental Resources, Inc. 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 1.26 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 -24.80% below today’s ($52.53) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, November 9 report. The company was maintained on Friday, August 7 by RBC Capital Markets. The stock has “Positive” rating given by Susquehanna on Tuesday, January 26. Deutsche Bank upgraded the stock to “Buy” rating in Wednesday, April 13 report. The firm earned “Buy” rating on Monday, January 18 by Tudor Pickering. The stock of Continental Resources, Inc. (NYSE:CLR) has “Neutral” rating given on Monday, August 24 by Bank of America. As per Tuesday, June 14, the company rating was maintained by Deutsche Bank. Scotia Capital maintained Continental Resources, Inc. (NYSE:CLR) rating on Monday, June 27. Scotia Capital has “Outperform” rating and $17 price target. On Friday, January 15 the stock rating was upgraded by Tudor Pickering to “Buy”. KLR Group downgraded it to “Accumulate” rating and $54 target price in Monday, July 18 report.

Insitutional Activity: The institutional sentiment is 1.08 in Q2 2016. Its the same as in 2016Q1. The ratio has no change, 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.
California Employees Retirement Sys has 0.02% invested in the company for 254,500 shares. Rafferty Asset Mgmt Ltd Liability Corporation owns 9,363 shares or 0.03% of their US portfolio. Us Bancorp De holds 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 45,277 shares. Nicholas Prtnrs Lp has invested 0.47% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Proshare Limited Liability Corporation has invested 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Archford Capital Strategies Ltd Liability Com has invested 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Texas Cap Bancshares Inc Tx has invested 0.88% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Alphamark Advisors Ltd Liability Corp accumulated 3.03% or 113,644 shares. Vanguard Gp accumulated 6.02 million shares or 0.02% of the stock. Cornerstone Advsr last reported 76 shares in the company. Daiwa Secs Grp Incorporated accumulated 0% or 2,100 shares. Wfg Advsr Ltd Partnership last reported 50 shares in the company. Pnc Financial Services Grp Inc, a Pennsylvania-based fund reported 25,481 shares. Goldman Sachs Group Inc holds 1.07M shares or 0.02% of its portfolio. Axa holds 1,639 shares or 0% of its portfolio.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 selling transactions for $3.44 million net activity. On Friday, August 5 McNabb John T II sold $221,959 worth of the stock or 5,000 shares. Another trade for 4,000 shares valued at $187,343 was sold by Hart John D. 5,000 shares with value of $251,250 were sold by Gould Gary E on Tuesday, August 30. Shares for $205,502 were sold by BOREN DAVID L on Friday, May 20. Brown Glen A had sold 15,000 shares worth $609,357 on Friday, May 20. $148,918 worth of shares were sold by Owen Steven K on Wednesday, September 21. The insider Stark Jack H sold $590,878.

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 $20.06 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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