The stock of Continental Resources, Inc. (NYSE:CLR) is a huge mover today! About 1.60 million shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 39.49% since April 13, 2016 and is uptrending. It has outperformed by 35.56% the S&P500.
The move comes after 6 months positive chart setup for the $18.83 billion company. It was reported on Nov, 15 by Barchart.com. We have $65.39 PT which if reached, will make NYSE:CLR worth $6.40 billion more.
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. Continental Resources Inc. has been the topic of 67 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Seaport Global upgraded the shares of CLR in a report on Wednesday, March 30 to “Buy” rating. The rating was initiated by Credit Suisse with “Neutral” on Monday, June 6. Stifel Nicolaus downgraded Continental Resources, Inc. (NYSE:CLR) on Wednesday, April 6 to “Hold” rating. The firm earned “Equal-Weight” rating on Wednesday, April 27 by Capital One. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Focus Stock” rating by Howard Weil on Friday, February 26. As per Monday, August 24, the company rating was downgraded by Bank of America. Deutsche Bank maintained it with “Hold” rating and $38 target price in Wednesday, October 14 report. As per Tuesday, August 16, the company rating was initiated by Wells Fargo. The rating was downgraded by KLR Group on Monday, July 18 to “Accumulate”. As per Monday, January 18, the company rating was upgraded by Tudor Pickering.
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.
Commonwealth Equity Svcs Inc holds 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 24,937 shares. California Employees Retirement accumulated 0.02% or 254,500 shares. Blackrock accumulated 110,548 shares or 0.01% of the stock. Legal & General Grp Inc Public Ltd Co accumulated 0.02% or 368,147 shares. Fifth Third Retail Bank reported 27,280 shares or 0.01% of all its holdings. Walleye Trading Llc owns 14,795 shares or 0% of their US portfolio. Capital Advsr Ok owns 224,595 shares or 0% of their US portfolio. Principal Fincl Gp last reported 0% of its portfolio in the stock. Mad River Investors reported 38,138 shares or 2.16% of all its holdings. Hap Trading Ltd Liability Co last reported 15,022 shares in the company. Columbia Pacific reported 84,089 shares or 2.32% of all its holdings. Moreover, Apg Asset Mgmt Nv has 0.01% invested in Continental Resources, Inc. (NYSE:CLR) for 66,196 shares. Hudson Bay Capital Lp last reported 0.02% of its portfolio in the stock. Moreover, Checchi Capital Advisers Ltd Liability Corp has 0.01% invested in Continental Resources, Inc. (NYSE:CLR) for 1,793 shares. Cap Impact Advsr Limited Liability Company reported 14,834 shares or 0.31% of all its holdings.
Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 10 insider sales for $3.44 million net activity. Gould Gary E sold $251,250 worth of stock or 5,000 shares. Owen Steven K sold $148,918 worth of stock or 3,200 shares. McNabb John T II also sold $221,959 worth of Continental Resources, Inc. (NYSE:CLR) shares. $590,878 worth of shares were sold by Stark Jack H on Friday, August 26. 15,000 shares were sold by Brown Glen A, worth $609,357. 13,500 shares were sold by Hart John D, worth $572,698. BOREN DAVID L sold 5,000 shares worth $205,502.
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.
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.
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