What Next for Continental Resources, Inc. Stock After Today’s Bearish Options Activity?

 What Next for Continental Resources, Inc. Stock After Today's Bearish Options Activity?

In today’s session Continental Resources, Inc. (CLR) recorded an unusually high (1,275) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious CLR decrease. With 1,275 contracts traded and 7584 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: CLR161216P00048000 closed last at: $1 or 35.5% down. About 404,408 shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 45.33% since April 21, 2016 and is uptrending. It has outperformed by 40.00% the S&P500.

Analysts await Continental Resources, Inc. (NYSE:CLR) to report earnings on February, 22. They expect $-0.10 earnings per share, up 56.52% or $0.13 from last year’s $-0.23 per share. After $-0.22 actual earnings per share reported by Continental Resources, Inc. for the previous quarter, Wall Street now forecasts -54.55% 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 $40.50 average target is -23.77% below today’s ($53.13) stock price. Continental Resources Inc. has been the topic of 67 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Seaport Global upgraded Continental Resources, Inc. (NYSE:CLR) on Wednesday, March 30 to “Buy” rating. Bank of America downgraded the stock to “Neutral” rating in Monday, August 24 report. The rating was upgraded by Howard Weil on Friday, February 26 to “Focus Stock”. The firm earned “Buy” rating on Wednesday, April 13 by Deutsche Bank. On Wednesday, December 9 the stock rating was initiated by JP Morgan with “Overweight”. On Wednesday, October 14 the stock rating was maintained by Deutsche Bank with “Hold”. Wunderlich maintained Continental Resources, Inc. (NYSE:CLR) rating on Wednesday, September 9. Wunderlich has “Hold” rating and $32 price target. As per Monday, June 27, the company rating was maintained by Scotia Capital. RBC Capital Markets maintained it with “Outperform” rating and $45 target price in Friday, August 7 report. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Sector Outperform” rating by Howard Weil on Friday, August 14.

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 the same, 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.
Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 5,694 shares. Sit Associate Inc owns 75,260 shares or 0.09% of their US portfolio. Highland Capital Mngmt Limited Partnership has 252,021 shares for 0.47% of their US portfolio. Zweig accumulated 34,290 shares or 0.16% of the stock. Sumitomo Mitsui Hldgs Incorporated owns 308,506 shares or 0.02% of their US portfolio. Springbok Cap Management Limited Co, a New York-based fund reported 98,330 shares. The Massachusetts-based State Street Corp has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). Winfield Assocs accumulated 0% or 30 shares. Thompson Davis & Com Inc, a Virginia-based fund reported 453 shares. Geode Capital Mgmt Ltd Liability Com has 511,008 shares for 0.01% of their US portfolio. Royal National Bank & Trust Of Canada holds 659,163 shares or 0.02% of its portfolio. Synovus Fin, a Georgia-based fund reported 2,885 shares. Caisse De Depot Et Placement Du Quebec, a Quebec – Canada-based fund reported 141,700 shares. Fifth Third Bankshares last reported 27,280 shares in the company. Advisory Svcs Net Ltd Limited Liability Company has 500 shares for 0.01% of their US portfolio.

Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 9 selling transactions for $2.97 million net activity. Eissenstat Eric Spencer had sold 6,635 shares worth $339,285 on Friday, November 18. Stark Jack H also sold $590,878 worth of Continental Resources, Inc. (NYSE:CLR) on Friday, August 26. The insider McNabb John T II sold 5,000 shares worth $221,959. Owen Steven K sold 3,200 shares worth $148,918. 5,000 shares were sold by Gould Gary E, worth $221,601 on Friday, August 5. Another trade for 4,000 shares valued at $187,343 was made 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 $19.85 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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