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

Financial News Live · Sep 20, 2022 01:02

Continental Resources, Inc. (NYSE:CLR – Get Rating) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,760,000 shares, a decline of 13.8% from the August 15th total of 3,200,000 shares. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is currently 1.7 days. Approximately 2.0% of the company's stock are sold short.

Continental Resources Price Performance

CLR stock traded up $0.41 during mid-day trading on Monday, hitting $70.25. The company had a trading volume of 1,080,981 shares, compared to its average volume of 1,752,547. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.15 and a beta of 2.48. Continental Resources has a 12-month low of $40.04 and a 12-month high of $75.49. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $67.97 and a 200 day moving average price of $64.73.

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Continental Resources (NYSE:CLR – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.05 by $0.42. The business had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.66 billion. Continental Resources had a net margin of 37.73% and a return on equity of 40.32%. The business's quarterly revenue was up 114.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. On average, research analysts anticipate that Continental Resources will post 12.42 earnings per share for the current year.

Continental Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 8th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, August 5th. Continental Resources's payout ratio is currently 13.91%.

Institutional Trading of Continental Resources

Several hedge funds have recently bought and sold shares of the stock. Amalgamated Bank lifted its stake in Continental Resources by 1.6% in the 1st quarter. Amalgamated Bank now owns 11,840 shares of the oil and natural gas company's stock worth $726,000 after purchasing an additional 191 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Continental Resources by 18.9% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,320 shares of the oil and natural gas company's stock valued at $86,000 after buying an additional 210 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Continental Resources by 2.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,038 shares of the oil and natural gas company's stock valued at $493,000 after buying an additional 214 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Continental Resources by 3.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,135 shares of the oil and natural gas company's stock valued at $437,000 after buying an additional 254 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Continental Resources by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,517 shares of the oil and natural gas company's stock valued at $338,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 13.41% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Credit Suisse Group set a $78.00 price objective on shares of Continental Resources in a report on Monday, June 20th. Piper Sandler lowered shares of Continental Resources from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $76.00 to $70.00 in a report on Tuesday, August 2nd. Morgan Stanley decreased their price objective on shares of Continental Resources from $69.00 to $67.00 and set an "underweight" rating for the company in a report on Tuesday, July 19th. Scotiabank lowered shares of Continental Resources from a "sector outperform" rating to a "sector perform" rating in a research note on Monday, August 1st. Finally, Royal Bank of Canada lowered shares of Continental Resources from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from $75.00 to $80.00 in a research note on Wednesday, July 6th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Continental Resources presently has an average rating of "Hold" and an average target price of $69.14.

Continental Resources Company Profile

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Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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.