Will Continental Resources, Inc. Go Down Anytime Soon? Option Trader Believe So

 Will Continental Resources, Inc. Go Down Anytime Soon? Option Trader Believe So

In today’s session Continental Resources, Inc. (CLR) recorded an unusually high (107) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious CLR decrease. With 107 contracts traded and 13054 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: CLR161021P00050000 closed last at: $0.4 or 27.3% down. About 797,655 shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 75.67% since March 16, 2016 and is uptrending. It has outperformed by 70.13% 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), 17 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 65% are positive. Continental Resources Inc. has been the topic of 64 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Credit Suisse initiated the shares of CLR in a report on Monday, June 6 with “Neutral” rating. Stifel Nicolaus downgraded Continental Resources, Inc. (NYSE:CLR) on Wednesday, April 6 to “Hold” rating. The firm has “Buy” rating by Wunderlich given on Friday, May 6. Barclays Capital upgraded the stock to “Overweight” rating in Monday, October 17 report. The stock of Continental Resources, Inc. (NYSE:CLR) has “Buy” rating given on Friday, January 15 by Tudor Pickering. The stock of Continental Resources, Inc. (NYSE:CLR) has “Equal-Weight” rating given on Monday, November 9 by Barclays Capital. The rating was downgraded by Howard Weil on Monday, May 16 to “Sector Outperform”. The rating was maintained by Deutsche Bank on Wednesday, October 14 with “Hold”. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, November 6 report. Tudor Pickering upgraded the stock to “Buy” rating in Monday, January 18 report.

According to Zacks Investment Research, “CONTINENTAL RESOURCES is a crude-oil concentrated, independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and Gulf Coast regions of the United States. The Company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations.”

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.
Tortoise Capital Ltd Liability Corporation holds 0.04% or 137,798 shares in its portfolio. American International Gp Inc has 0% invested in the company for 5,318 shares. Archford Capital Strategies Ltd Liability has 0.01% invested in the company for 220 shares. Wells Fargo & Mn accumulated 80,625 shares or 0% of the stock. Moreover, Windward Capital Mgmt Comm Ca has 1.43% invested in Continental Resources, Inc. (NYSE:CLR) for 162,582 shares. Nomura Asset Co Limited last reported 0.01% of its portfolio in the stock. Impala Asset Lc holds 2.97% or 910,800 shares in its portfolio. Envestnet Asset Mgmt reported 26,153 shares or 0% of all its holdings. Blackrock Fund Advsr, a California-based fund reported 1.00 million shares. California Employees Retirement accumulated 0.02% or 254,500 shares. Amp Capital Invsts Ltd last reported 21,664 shares in the company. Creative Planning has 11,888 shares for 0% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt holds 0.02% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 9,962 shares. Pillar Pacific Capital Management has 0.3% invested in the company for 38,720 shares. California State Teachers Retirement accumulated 0.02% or 186,283 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 selling transactions for $3.44 million net activity. On Tuesday, August 30 Gould Gary E sold $251,250 worth of the stock or 5,000 shares. Shares for $148,918 were sold by Owen Steven K. Hart John D had sold 4,000 shares worth $187,343. Shares for $590,878 were sold by Stark Jack H on Friday, August 26. Another trade for 15,000 shares valued at $609,357 was sold by Brown Glen A. On Tuesday, June 7 Eissenstat Eric Spencer sold $433,201 worth of the stock or 10,000 shares. BOREN DAVID L also sold $205,502 worth of Continental Resources, Inc. (NYSE:CLR) 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 $19.98 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.

CLR Company Profile

Continental Resources, Inc., incorporated on November 16, 1967, 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 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. 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 (SCOOP), Sooner Trend Anadarko Canadian Kingfisher (STACK), Northwest Cana and Arkoma Woodford areas of Oklahoma. The East region includes undeveloped leasehold acreage east of the Mississippi River. The Company’s estimated proved reserves are approximately 1,230 million barrels of crude oil equivalent (MMBoe) with estimated proved developed reserves of over 520 MMBoe. The Company’s crude oil production is sold to crude oil refining companies at market centers.

More news for Continental Resources, Inc. (NYSE:CLR) were recently published by: Forbes.com, which released: “Continental Resources Reaches Analyst Target Price” on October 07, 2016. 247Wallst.com‘s article titled: “Top Analyst Upgrades and Downgrades: Continental Resources, Freeport-McMoRan …” and published on October 17, 2016 is yet another important article.

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