Continental Resources Inc. [NYSE: CLR] stock went on an upward path that rose over 1.23% on Wednesday, amounting to a one-week price increase of more than 5.54%. The company report on November 11, 2020 that Continental Resources Announces Pricing of Upsized $1.5 Billion Offering Of New Senior Notes Due 2031.
Continental Resources, Inc. (NYSE: CLR) (“Continental” or the “Company”) announced today the pricing of its private placement of new 5.75% senior unsecured notes due 2031, which was upsized to $1.5 billion in aggregate principal amount from the originally proposed $1.0 billion offering. The notes were sold at par. The offering is expected to close on November 25, 2020, subject to customary closing conditions. The Company intends to use the net proceeds from this offering to fund the concurrent tender offers for a portion of the Company’s 5.0% senior notes due 2022 and 4.5% senior notes due 2023 (the “Tender Offers”), to pay fees and expenses incurred in connection therewith, and the excess, if any, for general corporate purposes, including other repayments or refinancings of the Company’s debt.
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Over the last 12 months, CLR stock dropped by -49.78%. The one-year Continental Resources Inc. stock forecast points to a potential upside of 16.04. The average equity rating for CLR stock is currently 3.10, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $5.28 billion, with 360.26 million shares outstanding and 63.25 million shares in the current float. Compared to the average trading volume of 3.06M shares, CLR stock reached a trading volume of 4071013 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Continental Resources Inc. [CLR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLR shares is $17.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLR stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Northland Capital have made an estimate for Continental Resources Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on September 14, 2020. The new note on the price target was released on September 09, 2020, representing the official price target for Continental Resources Inc. stock.
The Average True Range (ATR) for Continental Resources Inc. is set at 0.88, with the Price to Sales ratio for CLR stock in the period of the last 12 months amounting to 1.79. The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 0.06. Price to Free Cash Flow for CLR in the course of the last twelve months was 3.12 with Quick ratio for the last quarter at 0.90.
CLR Stock Performance Analysis:
Continental Resources Inc. [CLR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.54. With this latest performance, CLR shares gained by 11.30% in over the last four-week period, additionally plugging by 7.13% over the last 6 months – not to mention a drop of -49.78% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLR stock in for the last two-week period is set at 60.81, with the RSI for the last a single of trading hit 65.08, and the three-weeks RSI is set at 56.60 for Continental Resources Inc. [CLR]. The present Moving Average for the last 50 days of trading for this stock 13.26, while it was recorded at 14.30 for the last single week of trading, and 15.08 for the last 200 days.
Insight into Continental Resources Inc. Fundamentals:
Continental Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
CLR Stock EPS
With the latest financial reports released by the company, Continental Resources Inc. posted 0.55/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLR.
Continental Resources Inc. [CLR] Insider Position Details
There are presently around $826 million, or 16.70% of CLR stock, in the hands of institutional investors. The top three institutional holders of CLR stocks are: VANGUARD GROUP INC with ownership of 6,115,973, which is approximately -16.142% of the company’s market cap and around 3.70% of the total institutional ownership; STATE STREET CORP, holding 5,548,969 shares of the stock with an approximate value of $82.51 million in CLR stocks shares; and BLACKROCK INC., currently with $64.88 million in CLR stock with ownership of nearly -12.481% of the company’s market capitalization.
96 institutional holders increased their position in Continental Resources Inc. [NYSE:CLR] by around 8,538,963 shares. Additionally, 145 investors decreased positions by around 16,688,183 shares, while 50 investors held positions by with 30,330,589 shares. The mentioned changes placed institutional holdings at 55,557,735 shares, according to the latest SEC report filing. CLR stock had 35 new institutional investments in for a total of 4,038,285 shares, while 39 institutional investors sold positions of 3,773,702 shares during the same period.