Continental Resources Inc. (CLR): Technicals Say You should Hold

Continental Resources Inc. (NYSE:CLR) saw an upside of 0.82% to close Monday at $53.87 after adding $0.44 on the day. The 5-day average trading volume is 1,879,840 shares of the company’s common stock. It has gained $55.48 in the past week. An average of 1,900,995 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,769,432.

CLR’s 1-month performance is 39.60% or $15.28 on its low of $39.09 reached on 09/14/21. The company’s shares have touched a 52-week low of $11.61 and high of $53.74, with the stock’s rally to the 52-week high happening on 10/11/21. YTD, CLR has achieved 230.49% or $37.57. However, the current price is up 0.25%% from the 52-week high price.

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Insider Transactions

On May 14, 151 days have gone by since the last insider trading activity for Continental Resources Inc. (CLR). MCCAIN ELLIS L (Director) most recently sold 27,238 shares at $30.68 per share on May 14. This transaction cost the insider $835,662. SVP, Operations, Bent Pat, sold 7,313 shares at a price of $29.63 on May 13. Then, on Mar 24, Sr. VP, CFO & CSO Hart John D sold 7,500 shares at a price of $26.63 per share. This transaction amounted to $199,756.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 52.30 and a low of 3.373. CLR stock has a beta of 3.22. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.78 while the price-to-book (PB) in the most recent quarter is 2.96, with the price to cash flow ratio at 7.87.

Continental Resources Inc. pays an annual dividend of $0.60 per share. Its dividend yield is 1.11% and the payout ratio is 14.40%. CLR’s most recent quarterly dividend payment was made on Aug. 20, when it paid $0.15 a share compared with prior rate of $0.11, up 26.67% from last year’s. The company has boosted its dividend for the last 2 consecutive years with the latest dividend increase of $0.04 reported on Friday July 30 2021.

It is projected that Continental Resources Inc.’s next ex-dividend date will be on 12-Nov. CLR is expected to distribute $0.15 as its next dividend.

Continental Resources Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.10 meaning that CLR stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.72, while the total debt to equity was 0.72. In terms of profitability, the gross margin trailing 12 months is 92.30%. The trailing 12-month EBITDA margin is 61.58% while for the period ending June 29; Continental Resources Inc.’s operating margin was 19.00%. The firm’s gross profit as reported stood at -$553.89 million against revenue of $2.59 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected CLR to announce $0.55 per share in earnings in its latest quarter, but it posted $0.91, representing a 65.50% surprise. EBITDA for the quarter stood at more than $917.18 million. CLR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 7.92 billion, with total debt at $4.76 billion. Shareholders hold equity totaling $367.55 million

Technical Picture

Let’s look briefly at Continental Resources Inc. (CLR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 82.83% to suggest the stock is trending Overbought, with historical volatility in this time period at 33.67%.

The stock’s 5-day moving average is $51.74, reflecting a +8.32% or $4.14 change from its current price. CLR is currently trading +34.84% above its 20-day SMA, +79.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +57.75% and +218.76% respectively.

Stochastic %K and %D was 94.41% and 92.20% and the average true range (ATR) pointed at 2.10. The RSI (14) points at 79.12%, while the 14-day stochastic is at 88.14% with the period’s ATR at 2.00. The stock’s 9-day MACD Oscillator is pointing at 3.04 and 4.78 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Continental Resources Inc. (NYSE: CLR), Citigroup upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for CLR stock have a consensus rating for the stock as Hold. Currently, 5 brokerage advisors rate CLR as a “sell,”, while 15 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 11 have offered a “buy” rating.

What is CLR’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $32.00 and a high of $70.00, with their median price target at $45.00. Looking at these predictions, the average price target given by analysts is for Continental Resources Inc. (CLR) stock is $44.61.


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