Continental Resources Inc. [NYSE: CLR] price plunged by -0.11 percent to reach at -$0.08. The company report on November 2, 2022 that CONTINENTAL RESOURCES ANNOUNCES 3Q22 RESULTS.
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Strong 3Q22 Results• $2.22 B Cash Flow from Operations (CFO) & $1.01 B Free Cash Flow (FCF) (Non-GAAP)• $1.01 B Net Income; $2.80 per Diluted Share ($1.04 B Adj. Net Income; $2.88 per Adj. Share (Non-GAAP))• Total Debt of $6.30 B & Net Debt (Non-GAAP) of $4.49 B as of 9/30/22 (No Change in Total Debt & $1.26 B Net Debt (Non-GAAP) Reduction in 3Q22)• More Than $4.00 B of Total Liquidity, Inclusive of Undrawn $2.25 B Revolver & $1.81 B Cash Balance as of 9/30/22.
A sum of 4381691 shares traded at recent session while its average daily volume was at 2.83M shares. Continental Resources Inc. shares reached a high of $74.18 and dropped to a low of $74.07 until finishing in the latest session at $74.07.
The one-year CLR stock forecast points to a potential downside of -0.98. The average equity rating for CLR stock is currently 3.10, trading closer to a bullish pattern in the stock market.
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 $73.35 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.
Raymond James have made an estimate for Continental Resources Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on October 24, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $67 to $74. The new note on the price target was released on October 19, 2022, representing the official price target for Continental Resources Inc. stock. On July 22, 2022, analysts decreased their price target for CLR shares from 76 to 70.
The Average True Range (ATR) for Continental Resources Inc. is set at 0.67, with the Price to Sales ratio for CLR stock in the period of the last 12 months amounting to 3.04. The Price to Book ratio for the last quarter was 2.67, with the Price to Cash per share for the same quarter was set at 5.00. Price to Free Cash Flow for CLR in the course of the last twelve months was 4.27 with Quick ratio for the last quarter at 1.10.
CLR Stock Performance Analysis:
Continental Resources Inc. [CLR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.01. With this latest performance, CLR shares dropped by -0.09% in over the last four-week period, additionally plugging by 20.89% over the last 6 months – not to mention a rise of 54.22% 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 62.17, with the RSI for the last a single of trading hit 63.44, and the three-weeks RSI is set at 59.94 for Continental Resources Inc. [CLR]. The present Moving Average for the last 50 days of trading for this stock 70.99, while it was recorded at 74.09 for the last single week of trading, and 65.00 for the last 200 days.
Insight into Continental Resources Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Continental Resources Inc. [CLR] shares currently have an operating margin of +44.45 and a Gross Margin at +48.44. Continental Resources Inc.’s Net Margin is presently recorded at +28.40.
Return on Equity for this stock inclined to 24.55, with Return on Assets sitting at 9.71.
Continental Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.
CLR Stock EPS
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Continental Resources Inc. go to 27.84%.
Continental Resources Inc. [CLR] Insider Position Details
There are presently around $3,504 million, or 12.90% of CLR stock, in the hands of institutional investors. The top three institutional holders of CLR stocks are: SMEAD CAPITAL MANAGEMENT, INC. with ownership of 7,052,830, which is approximately -0.719% of the company’s market cap and around 43.30% of the total institutional ownership; VANGUARD GROUP INC, holding 5,516,761 shares of the stock with an approximate value of $408.63 million in CLR stocks shares; and FMR LLC, currently with $211.86 million in CLR stock with ownership of nearly 0.887% of the company’s market capitalization.
Positions in Continental Resources Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 160 institutional holders increased their position in Continental Resources Inc. [NYSE:CLR] by around 7,143,579 shares. Additionally, 197 investors decreased positions by around 6,630,638 shares, while 64 investors held positions by with 33,532,620 shares. The mentioned changes placed institutional holdings at 47,306,837 shares, according to the latest SEC report filing. CLR stock had 60 new institutional investments in for a total of 2,186,596 shares, while 56 institutional investors sold positions of 2,078,365 shares during the same period.