The stock of Continental Resources, Inc. (NYSE:CLR) is a huge mover today! About 2.04 million shares traded hands. Continental Resources, Inc. (NYSE:CLR) has risen 108.53% since March 2, 2016 and is uptrending. It has outperformed by 100.27% the S&P500.
The move comes after 5 months positive chart setup for the $19.83B company. It was reported on Oct, 5 by Barchart.com. We have $71.97 PT which if reached, will make NYSE:CLR worth $6.54B more.
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 26 analysts covering Continental Resources Inc. (NYSE:CLR), 16 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 62% are positive. Continental Resources Inc. has been the topic of 63 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Stifel Nicolaus downgraded the shares of CLR in a report on Wednesday, April 6 to “Hold” rating. RBC Capital Markets maintained it with “Outperform” rating and $45 target price in Friday, August 7 report. The firm has “Overweight” rating by JP Morgan given on Wednesday, December 9. The stock of Continental Resources, Inc. (NYSE:CLR) has “Equal-Weight” rating given on Monday, November 9 by Barclays Capital. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, November 6 report. The firm has “Accumulate” rating given on Monday, July 18 by KLR Group. On Wednesday, October 14 the stock rating was maintained by Deutsche Bank with “Hold”. On Wednesday, April 13 the stock rating was upgraded by Deutsche Bank to “Buy”. The stock of Continental Resources, Inc. (NYSE:CLR) earned “Neutral” rating by Bank of America on Monday, August 24. Nomura maintained the shares of CLR in a report on Thursday, January 21 with “Buy” rating.
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.
Vsr Fin Inc accumulated 9,570 shares or 0.07% of the stock. M&T Natl Bank accumulated 0.01% or 23,889 shares. Pioneer Investment Mgmt Inc has 0.02% invested in the company for 116,444 shares. Blair William And Co Il last reported 0.09% of its portfolio in the stock. Ent Corporation last reported 0.01% of its portfolio in the stock. Blackrock Japan Co Limited, a Japan-based fund reported 153,145 shares. Citigroup has 59,364 shares for 0% of their US portfolio. Fiera Cap has invested 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Miller Howard Invests Inc Ny, a New York-based fund reported 28,915 shares. Royal Financial Bank Of Canada holds 659,163 shares or 0.02% of its portfolio. Blackrock Inc last reported 110,548 shares in the company. Stifel Fincl Corporation holds 0% or 6,165 shares in its portfolio. Savings Bank Of America Corp De has invested 0.01% of its portfolio in Continental Resources, Inc. (NYSE:CLR). The Illinois-based Archford Strategies Limited Liability has invested 0.01% in Continental Resources, Inc. (NYSE:CLR). Bridgeway Management holds 0.44% of its portfolio in Continental Resources, Inc. (NYSE:CLR) for 631,900 shares.
Insider Transactions: Since May 20, 2016, the stock had 0 insider purchases, and 10 sales for $3.44 million net activity. On Wednesday, September 21 Hart John D sold $187,343 worth of the stock or 4,000 shares. The insider Gould Gary E sold 5,000 shares worth $221,601. Owen Steven K also sold $148,918 worth of Continental Resources, Inc. (NYSE:CLR) on Wednesday, September 21. Shares for $609,357 were sold by Brown Glen A. McNabb John T II had sold 5,000 shares worth $221,959. $205,502 worth of Continental Resources, Inc. (NYSE:CLR) shares were sold by BOREN DAVID L. Stark Jack H also sold $590,878 worth of Continental Resources, Inc. (NYSE:CLR) shares.
More notable recent Continental Resources, Inc. (NYSE:CLR) news were published by: Prnewswire.com which released: “Continental Resources Announces Redemption Of 7 3/8% Senior Notes Due 2020 And …” on October 04, 2016, also Seekingalpha.com with their article: “Why Continental Resources Should Be Bought On The Drop” published on September 27, 2016, Nasdaq.com published: “Commit To Purchase Continental Resources At $28, Earn 6.4% Using Options” on October 03, 2016. More interesting news about Continental Resources, Inc. (NYSE:CLR) were released by: Investorguide.com and their article: “Continental Resources: a Smart Bet for Rising Oil” published on October 05, 2016 as well as Seekingalpha.com‘s news article titled: “Continental Resources Basically Breaks Even, 2H Debt Reduction In The Works” with publication date: September 22, 2016.
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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