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


 What's Continental Resources, Inc. Upside 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 2.15M 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 EPS, up 8.33% or $0.01 from last year’s $-0.12 per share. After $-0.18 actual EPS 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 -23.92% below today’s ($51.92) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Deutsche Bank upgraded Continental Resources, Inc. (NYSE:CLR) on Wednesday, April 13 to “Buy” rating. The firm has “Sector Perform” rating given on Saturday, August 15 by Scotia Capital. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Outperform” rating by RBC Capital Markets on Friday, August 5. The company was maintained on Thursday, January 21 by Nomura. Tudor Pickering upgraded Continental Resources, Inc. (NYSE:CLR) on Monday, January 18 to “Buy” rating. RBC Capital Markets maintained Continental Resources, Inc. (NYSE:CLR) rating on Friday, August 7. RBC Capital Markets has “Outperform” rating and $45 price target. The firm has “Focus Stock” rating by Howard Weil given on Friday, February 26. As per Wednesday, April 27, the company rating was downgraded by Capital One. The company was initiated on Wednesday, December 9 by JP Morgan. The stock has “Outperform” rating given by RBC Capital Markets on Friday, November 6.

Insitutional Activity: The institutional sentiment is 1.08 in 2016 Q2. Its the same as in 2016Q1. The ratio is without 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.
Icon Advisers Co owns 339,250 shares or 1.04% of their US portfolio. Ls Inv Advsrs Limited Com last reported 2,934 shares in the company. Stifel Fincl holds 6,165 shares or 0% of its portfolio. Blackrock Advsr Limited Liability Corp accumulated 102,065 shares or 0% of the stock. Sumitomo Mitsui Asset Management has 0.01% invested in the company for 6,365 shares. Jvl Advsrs Limited Liability Company has 884,900 shares for 9.21% of their US portfolio. Pictet Asset Management Ltd last reported 0.01% of its portfolio in the stock. Mizuho Asset Coltd has 803 shares for 0.01% of their US portfolio. Argentus Capital Management Ltd Liability Company has 4 shares for 0% of their US portfolio. Bessemer Gru, a New Jersey-based fund reported 260 shares. Zweig has 34,290 shares for 0.16% of their US portfolio. Rockefeller Service last reported 0% of its portfolio in the stock. Miller Howard Investments Ny last reported 28,915 shares in the company. Grt Cap Prns Lc reported 74,078 shares or 0.83% of all its holdings. Wesbanco State Bank has 0.35% invested in the company for 129,699 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 10 insider sales for $3.44 million net activity. Eissenstat Eric Spencer also sold $433,201 worth of Continental Resources, Inc. (NYSE:CLR) on Tuesday, June 7. Shares for $221,959 were sold by McNabb John T II on Friday, August 5. Shares for $590,878 were sold by Stark Jack H. Another trade for 5,000 shares valued at $251,250 was made by Gould Gary E on Tuesday, August 30. $148,918 worth of Continental Resources, Inc. (NYSE:CLR) was sold by Owen Steven K. 4,000 shares were sold by Hart John D, worth $187,343 on Wednesday, September 21. The insider BOREN DAVID L sold $205,502.

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 $19.83 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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