Continental Resources, Inc. Can’t Be More Risky. Option Traders Sell It

 Continental Resources, Inc. Can't Be More Risky. Option Traders Sell It

In today’s session Continental Resources, Inc. (CLR) recorded an unusually high (2,335) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CLR decrease. With 2,335 contracts traded and 2534 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CLR161118P00046000 closed last at: $0.75 or 6.3% down. About 657,014 shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 73.71% since March 29, 2016 and is uptrending. It has outperformed by 70.23% 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 28 analysts covering Continental Resources Inc. (NYSE:CLR), 19 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 68% are positive. $60 is the highest target while $14 is the lowest. The $40.54 average target is -18.08% below today’s ($49.49) stock price. Continental Resources Inc. has been the topic of 66 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Monday, January 18 by Tudor Pickering. The firm has “Neutral” rating given on Monday, June 6 by Credit Suisse. The company was maintained on Wednesday, August 5 by Canaccord Genuity. On Tuesday, January 26 the stock rating was maintained by Susquehanna with “Positive”. The firm earned “Buy” rating on Thursday, August 25 by Nomura. The firm earned “Overweight” rating on Monday, October 17 by Barclays Capital. Barclays Capital maintained Continental Resources, Inc. (NYSE:CLR) rating on Monday, November 9. Barclays Capital has “Equal-Weight” rating and $32 price target. Tudor Pickering upgraded the stock to “Buy” rating in Friday, January 15 report. JP Morgan initiated it with “Overweight” rating and $38 target price in Wednesday, December 9 report. The firm has “Buy” rating by Nomura given on Thursday, January 21.

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 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 accumulated 0.01% or 5,900 shares. Moreover, Qcm Cayman Limited has 0.1% invested in Continental Resources, Inc. (NYSE:CLR) for 4,871 shares. Blackrock Fund Advisors reported 1.00M shares or 0.01% of all its holdings. Sg Americas Secs Limited Liability Com last reported 7,683 shares in the company. Moreover, Skylands Capital Llc has 0.04% invested in Continental Resources, Inc. (NYSE:CLR) for 5,070 shares. First Advsr L P owns 1.25M shares or 0.18% of their US portfolio. Bancorp Of America De accumulated 848,908 shares or 0.01% of the stock. Ig Mgmt owns 3,300 shares or 0% of their US portfolio. Axa holds 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 1,639 shares. Hsbc Holdg Public holds 37,169 shares or 0% of its portfolio. Cornerstone Cap Limited Liability Company has 5,439 shares for 0% of their US portfolio. Victory Capital Management holds 0.07% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 374,691 shares. Ubs Asset Mngmt Americas Inc accumulated 0.01% or 227,720 shares. Livforsakringsbolaget Skandia Omsesidigt holds 0.02% or 9,962 shares in its portfolio. Brenham Mngmt Limited Partnership last reported 13.9% of its portfolio in the stock.

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 10 sales for $3.44 million net activity. $221,601 worth of Continental Resources, Inc. (NYSE:CLR) shares were sold by Gould Gary E. 10,000 shares were sold by Eissenstat Eric Spencer, worth $433,201. Another trade for 5,000 shares valued at $205,502 was sold by BOREN DAVID L. McNabb John T II sold $221,959 worth of Continental Resources, Inc. (NYSE:CLR) on Friday, August 5. The insider Owen Steven K sold $148,918. Brown Glen A sold $609,357 worth of stock or 15,000 shares. 4,000 shares with value of $187,343 were sold by Hart John D on Wednesday, September 21.

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 $18.40 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. Seekingalpha.com‘s article titled: “Continental Resources: Prospects Of Profitability As Oil Rebounds” and published on October 26, 2016 is yet another important article.

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