Stock of The Day: Time to Reconsider Continental Resources, Inc. After Achieving 52-Week High?

Stock of The Day: Time to Reconsider Continental Resources, Inc. After Achieving 52 Week High?

The stock of Continental Resources, Inc. (NYSE:CLR) hit a new 52-week high and has $68.11 target or 32.00% above today’s $51.60 share price. The 9 months bullish chart indicates low risk for the $20.48 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $68.11 price target is reached, the company will be worth $6.55 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.53 million shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 126.22% since February 26, 2016 and is uptrending. It has outperformed by 115.80% 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), 16 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 62% are positive. $59 is the highest target while $14 is the lowest. The $39.50 average target is -23.45% below today’s ($51.6) stock price. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Nomura given on Thursday, August 25. Scotia Capital maintained the stock with “Outperform” rating in Monday, June 27 report. Wunderlich upgraded the stock to “Buy” rating in Friday, November 6 report. The stock has “Buy” rating given by Bank of America on Tuesday, January 5. As per Friday, February 26, the company rating was upgraded by Howard Weil. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Buy” rating by Nomura on Thursday, January 21. Credit Suisse initiated it with “Neutral” rating and $43 target price in Monday, June 6 report. The rating was maintained by Wunderlich on Friday, August 19 with “Buy”. Suntrust Robinson initiated Continental Resources, Inc. (NYSE:CLR) on Tuesday, December 15 with “Neutral” rating. On Friday, August 5 the stock rating was maintained by RBC Capital Markets with “Outperform”.

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 has no change, 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.
Ig Mgmt Limited last reported 0% of its portfolio in the stock. Dekabank Deutsche Girozentrale has 36,967 shares for 0.02% of their US portfolio. California Pub Employees Retirement Systems last reported 254,500 shares in the company. Geode Capital Mgmt Limited Liability Co accumulated 511,008 shares or 0.01% of the stock. Picton Mahoney Asset Mgmt has invested 0.65% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Beddow Capital Management Inc holds 33,950 shares or 0.64% of its portfolio. Jane Street Gru Ltd Liability Company owns 37,007 shares or 0.01% of their US portfolio. Jpmorgan Chase owns 52,801 shares or 0% of their US portfolio. 1832 Asset Mngmt Limited Partnership last reported 0.01% of its portfolio in the stock. Msd Prtnrs L P last reported 434,722 shares in the company. Grt Cap Prns Ltd accumulated 74,078 shares or 0.83% of the stock. Miller Howard Investments Ny holds 28,915 shares or 0.02% of its portfolio. Invesco accumulated 790,322 shares or 0.01% of the stock. Finemark Savings Bank Tru has 0.01% invested in the company for 1,500 shares. The Guernsey-based Bluecrest Mgmt has invested 0.39% in Continental Resources, Inc. (NYSE:CLR).

Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 insider sales for $3.44 million net activity. Owen Steven K sold 3,200 shares worth $148,918. Another trade for 12,000 shares valued at $590,878 was made by Stark Jack H on Friday, August 26. $251,250 worth of shares were sold by Gould Gary E on Tuesday, August 30. Eissenstat Eric Spencer sold $433,201 worth of stock. Brown Glen A sold $609,357 worth of stock. The insider Hart John D sold $572,698. The insider McNabb John T II sold 5,000 shares worth $221,959.

More news for Continental Resources, Inc. (NYSE:CLR) were recently published by: Seekingalpha.com, which released: “Why Continental Resources Should Be Bought On The Drop” on September 27, 2016. Seekingalpha.com‘s article titled: “Continental Resources Basically Breaks Even, 2H Debt Reduction In The Works” and published on September 22, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment