Continental Resources, Inc. Unusual Bullish Options Activity Means Profits for Traders

 Continental Resources, Inc. Unusual Bullish Options Activity Means Profits for Traders

In today’s session Continental Resources, Inc. (CLR) registered an unusually high (1,655) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious CLR increase. With 1,655 contracts traded and 34384 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: CLR161118C00050000 closed last at: $0.4 or 60% up. About 466,074 shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 45.96% since April 11, 2016 and is uptrending. It has outperformed by 39.81% the S&P500.

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 -11.89% below today’s ($46.01) stock price. Continental Resources Inc. has been the topic of 66 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Tuesday, January 5, the company rating was upgraded by Bank of America. The firm has “Buy” rating by Seaport Global given on Wednesday, March 30. The stock of Continental Resources, Inc. (NYSE:CLR) has “Neutral” rating given on Tuesday, December 15 by SunTrust. The firm earned “Outperform” rating on Friday, August 7 by RBC Capital Markets. On Tuesday, June 14 the stock rating was maintained by Deutsche Bank with “Buy”. The rating was initiated by JP Morgan on Wednesday, December 9 with “Overweight”. Howard Weil downgraded Continental Resources, Inc. (NYSE:CLR) on Monday, May 16 to “Sector Outperform” rating. Stephens initiated Continental Resources, Inc. (NYSE:CLR) on Tuesday, October 6 with “Equal Weight” rating. Deutsche Bank upgraded the shares of CLR in a report on Wednesday, April 13 to “Buy” rating. The rating was upgraded by Tudor Pickering to “Buy” on Monday, January 18.

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.
Fmr Llc reported 15.38M shares or 0.1% of all its holdings. First Natl Bank Sioux Falls, a South Dakota-based fund reported 112 shares. Dimensional Fund Advsr Limited Partnership accumulated 944,208 shares or 0.02% of the stock. Morgan Stanley holds 506,845 shares or 0.01% of its portfolio. Farmers And Merchants Invests has 500 shares for 0% of their US portfolio. The Texas-based Fin Advisory Group Inc has invested 0.1% in Continental Resources, Inc. (NYSE:CLR). Lombard Odier Asset Mgmt (Europe) Ltd, a United Kingdom-based fund reported 22,740 shares. Sg Americas Ltd Liability Company holds 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 7,683 shares. Cwm has invested 0.37% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Axa holds 0% or 1,639 shares in its portfolio. State Of Tennessee Treasury Department owns 200,000 shares or 0.05% of their US portfolio. Wfg Limited Partnership, a Texas-based fund reported 50 shares. Meeder Asset Mgmt has 0% invested in the company for 180 shares. Alliancebernstein L P owns 64,793 shares or 0% of their US portfolio. Bridges Invest Counsel accumulated 30,805 shares or 0.23% of the stock.

Insider Transactions: Since May 20, 2016, the stock had 0 insider buys, and 10 sales for $3.44 million net activity. Stark Jack H had sold 12,000 shares worth $590,878. Hart John D had sold 4,000 shares worth $187,343 on Wednesday, September 21. Gould Gary E sold $251,250 worth of stock. 10,000 shares were sold by Eissenstat Eric Spencer, worth $433,201 on Tuesday, June 7. 15,000 Continental Resources, Inc. (NYSE:CLR) shares with value of $609,357 were sold by Brown Glen A. 5,000 shares were sold by McNabb John T II, worth $221,959. 3,200 Continental Resources, Inc. (NYSE:CLR) shares with value of $148,918 were sold by Owen Steven K.

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 $17.26 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: Wsj.com, which released: “Continental Resources Loss Widens” on November 02, 2016. Newsok.com‘s article titled: “Hamm stays committed to Continental Resources” and published on November 10, 2016 is yet another important article.

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