Continental Resources, Inc. (NYSE:CLR) Short Interest Update

Continental Resources, Inc. (NYSE:CLR) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totalling 17,091,100 shares, a growth of 198.8% from the February 27th total of 5,720,000 shares. Based on an average trading volume of 3,800,000 shares, the short-interest ratio is presently 4.5 days. Currently, 21.1% of the shares of the stock are sold short.

In other Continental Resources news, Director John T. Mcnabb II acquired 3,000 shares of Continental Resources stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $10.30 per share, with a total value of $30,900.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Steven K. Owen acquired 12,500 shares of Continental Resources stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $8.03 per share, with a total value of $100,375.00. The disclosure for this purchase can be found here. Insiders have bought a total of 156,086 shares of company stock valued at $1,476,205 over the last ninety days. 77.03% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CLR. Alyeska Investment Group L.P. acquired a new stake in shares of Continental Resources during the 4th quarter worth approximately $664,000. AustralianSuper Pty Ltd grew its holdings in Continental Resources by 79.7% during the fourth quarter. AustralianSuper Pty Ltd now owns 230,270 shares of the oil and natural gas company’s stock valued at $7,898,000 after purchasing an additional 102,130 shares during the period. Prudential Financial Inc. grew its holdings in Continental Resources by 12.0% during the fourth quarter. Prudential Financial Inc. now owns 40,084 shares of the oil and natural gas company’s stock valued at $1,375,000 after purchasing an additional 4,288 shares during the period. Hexavest Inc. acquired a new position in Continental Resources during the fourth quarter valued at approximately $175,000. Finally, Nisa Investment Advisors LLC grew its holdings in Continental Resources by 45.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 100,795 shares of the oil and natural gas company’s stock valued at $3,457,000 after purchasing an additional 31,674 shares during the period. Hedge funds and other institutional investors own 19.84% of the company’s stock.

CLR traded down $0.28 during midday trading on Thursday, hitting $9.95. The company had a trading volume of 5,006,783 shares, compared to its average volume of 5,465,371. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.90. The company has a market capitalization of $3.83 billion, a PE ratio of 4.76, a P/E/G ratio of 7.71 and a beta of 2.16. Continental Resources has a twelve month low of $6.92 and a twelve month high of $52.03. The firm’s 50-day simple moving average is $18.21 and its 200-day simple moving average is $28.15.

Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, February 26th. The oil and natural gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Continental Resources had a net margin of 16.75% and a return on equity of 12.20%. As a group, sell-side analysts anticipate that Continental Resources will post 0.16 EPS for the current fiscal year.

A number of research firms have recently commented on CLR. Scotiabank began coverage on shares of Continental Resources in a report on Thursday, January 23rd. They set a “sector outperform” rating and a $39.00 price objective for the company. Piper Sandler downgraded shares of Continental Resources from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from to in a report on Tuesday. MKM Partners reduced their price objective on shares of Continental Resources from $41.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 28th. Bank of America downgraded shares of Continental Resources from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Stephens downgraded shares of Continental Resources from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $38.00 to $12.00 in a report on Friday, March 20th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.48.

About Continental Resources

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

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