Shares are trading at $32.34 a bit lower than $36.52, the stock’s 50 day moving average and which is just under the 200 day moving average of $44.29. The 50 day moving average went down $-4.39 or -12.03% and the 200 day average went down $-12.16 or -27.46%. 2,906K shares changed hands by the end of trading on Wednesday. Trading volume was down 59.27% under the stocks average daily volume.
Continental Resources, Inc. (NYSE:CLR) has been the object of insider buying and selling activity recently. Harold Hamm, CEO disclosed the purchase of 32,985 shares of CLR stock. The shares were purchased at an average price of $42.90. Hamm now owns $44,791,547 of the stock according to the SEC filing. CEO Harold Hamm bought 41,998 shares at an average price of $42.37 on Fri the 24th. That brings the CEO’s holdings to $42,840,604 as recorded in a recent Form 4 SEC filing.
Sr. VP & CFO John D. Hart sold 6,000 shares at an average price of $45.50 on Fri the 17th. The Sr. VP & CFO now owns $14,621,562 of the stock per an SEC filing yesterday.
The following firms have also recently changed their position in CLR. As of quarter end Gateway Investment Advisers LLC had acquired a total of 15,535 shares growing its holdings by 5.4%. The value in dollars decreased from $13,037,000 to $9,782,000 decreasing 25.0% quarter to quarter. Bank Of Montreal /can/ divested its ownership by selling 132 shares a decrease of 82.5%. Bank Of Montreal /can/ currently owns 28 shares with a value of $1,000. The total value of its holdings decreased 85.7%.
Hellman Jordan Management Co Inc /ma/ downsized its position by shedding 164,614 shares a decrease of 91.6% in the quarter. Hellman Jordan Management Co Inc /ma/ now holds 15,000 shares worth $484,000. The value of the position overall is down by 88.3%. Nomura Asset Management Co Ltd reduced its holdings by shedding 866 shares a decrease of 6.7% from 12/31/2016 to 03/31/2017. Nomura Asset Management Co Ltd controls 12,024 shares valued at $546,000. The value of the position overall is down by 17.8%.
On December 8 the company was rated “Neutral” according to a Deutsche Bank report a cut from the previous “Buy” rating. On December 8, 2016 the stock rating was changed to a “Hold” by JP Morgan which was a cut from the previous “Buy” rating.
On December 5 the company was downgraded from “Buy” to “Hold” in a report issued by KLR Group. Citigroup initiated coverage with an initial rating of “Buy”.
Barclays both upgraded the stock and raised the price target on October 17 changing the price target from $19.00 to $60.00 and changing the rating from “Equalweight” to “Overweight”. On October 17 the stock rating was upgraded to “Overweight” from “Equalweight” and a price target of $60.00 was set by Barclays.
In the market the company is trading up by 2.90% since yesterday’s close of $31.43. In the latest earnings report the EPS was $-0.54 and is projected to be $0.34 for the current year with 371,081,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.10 and the next full year EPS is anticipated to be $0.85.
Continental Resources, Inc., launched on November 16, 1967, is an independent crude oil and natural gas company 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 all properties south of Nebraska and west of the Mississippi River including various plays in the South Central Oklahoma Oil Province (SCOOP), Sooner Trend Anadarko Canadian Kingfisher (STACK), and Arkoma Woodford areas of Oklahoma. The East region is consists of undeveloped leasehold acreage east of the Mississippi River with no drilling or production operations. As of December 31, 2016, the Business’s estimated proved reserves were 1,275 million barrels of oil equivalent (MMBoe), with estimated proved developed reserves of 519 MMBoe..