Price Action Report: Will Continental Resources, Inc. Go Down Anytime Soon?

Price Action Report: Will Continental Resources, Inc. Go Down Anytime Soon?

The stock of Continental Resources, Inc. (NYSE:CLR) is a huge mover today! About 6.16 million shares traded hands or 123.19% up from the average. Continental Resources, Inc. (NYSE:CLR) has risen 20.01% since April 27, 2016 and is uptrending. It has outperformed by 14.78% the S&P500.
The move comes after 6 months positive chart setup for the $20.56B company. It was reported on Nov, 30 by Barchart.com. We have $61.36 PT which if reached, will make NYSE:CLR worth $1.44 billion more.

Analysts await Continental Resources, Inc. (NYSE:CLR) to report earnings on February, 22. They expect $-0.10 EPS, up 56.52% or $0.13 from last year’s $-0.23 per share. After $-0.22 actual EPS 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. Continental Resources Inc. has been the topic of 67 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Tuesday, January 5 the stock rating was upgraded by Bank of America to “Buy”. On Tuesday, October 6 the stock rating was initiated by Stephens with “Equal Weight”. Deutsche Bank maintained the stock with “Hold” rating in Wednesday, October 14 report. The rating was maintained by Wunderlich with “Buy” on Friday, May 6. The firm earned “Buy” rating on Wednesday, April 13 by Deutsche Bank. The stock has “Outperform” rating given by Scotia Capital on Monday, June 27. On Wednesday, December 9 the stock rating was initiated by JP Morgan with “Overweight”. RBC Capital Markets maintained Continental Resources, Inc. (NYSE:CLR) on Friday, November 6 with “Outperform” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, August 5 report. The rating was downgraded by Howard Weil to “Sector Outperform” on Monday, May 16.

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 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.
Raymond James And Associate owns 75,998 shares or 0.01% of their US portfolio. Carlson Capital Ltd Partnership has 1.71 million shares for 0.97% of their US portfolio. Canada Pension Plan Board reported 60,568 shares or 0.01% of all its holdings. Royal National Bank & Trust Of Canada has invested 0.02% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Springbok Capital Mgmt Ltd has 0.62% invested in the company for 98,330 shares. Umb Fincl Bank N A Mo accumulated 0.1% or 54,460 shares. Fjarde Ap has 29,184 shares for 0.03% of their US portfolio. Driehaus Mngmt Limited Liability Co reported 5,276 shares or 0.01% of all its holdings. Ls Inv Advisors Ltd Liability has 2,934 shares for 0.01% of their US portfolio. Skylands Capital Limited Liability Company last reported 5,070 shares in the company. Moreover, Graham Capital Management Lp has 0.92% invested in Continental Resources, Inc. (NYSE:CLR) for 395,225 shares. Pioneer Invest Mgmt reported 116,444 shares or 0.02% of all its holdings. Obermeyer Wood Counsel Lllp reported 5,855 shares or 0.03% of all its holdings. Teacher Retirement System Of Texas last reported 6,660 shares in the company. Aviva Public Llc, a United Kingdom-based fund reported 54,141 shares.

Insider Transactions: Since June 7, 2016, the stock had 0 insider buys, and 11 sales for $3.22 million net activity. The insider Stark Jack H sold $590,878. The insider Gould Gary E sold 5,000 shares worth $221,601. On Wednesday, September 21 Hart John D sold $187,343 worth of the stock or 4,000 shares. The insider Owen Steven K sold $148,918. Eissenstat Eric Spencer sold $339,285 worth of stock or 6,635 shares. $221,959 worth of Continental Resources, Inc. (NYSE:CLR) was sold by McNabb John T II.

More recent Continental Resources, Inc. (NYSE:CLR) news were published by: Wsj.com which released: “Continental Resources Loss Widens” on November 02, 2016. Also Seekingalpha.com published the news titled: “Continental Resources May Reach Breakeven At Under $40 Oil” on November 23, 2016. Newsok.com‘s news article titled: “Hamm stays committed to Continental Resources” with publication date: November 10, 2016 was also an interesting one.

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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