Continental Resources Inc. [NYSE:CLR] shares are showing an active tape with a current price of $13.45 on Friday.
Continental Resources Inc. is in the Energy sector under the Oil & Gas E&P industry. This week, we are watching the stock hit price per sales of 1.52 with an earning per share of -0.22.
For the year, the stock is trading -60.79% and the five-day change stands at 9.35%. As a point of reference, the S&P 500 is trading 0.87% YTD.
The Bears are coming
Holding a Market Cap of $5.09 billion, Continental Resources Inc. has seen a trading range over the last year of $6.90-$36.20.
For the last five days, CLR is up from its last closing price. The average shares trading hands each day is 3.05M, with average 10-day volume coming in at 3.53 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for CLR. When we apply the Elder Force Index to Continental Resources Inc., we are seeing an Elder Force Indicator number of -1269790.56.
The recent performance of the stock is another area that can tell traders how to proceed. CLR is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 60.59. Moreover, the company’s enterprise value has gone from $11.86B to $8.07B quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, CLR made a profit of -296.78 million. Continental Resources Inc. also saw quarter revenue growth year over year of -3.18%. In addition, the company has operating cash flow of $2.25 billion.
Looking at popular technical indicators, the company’s 5-day moving average is 13.26 compared to the 50-day moving average of 14.43. So, traders might want to tread carefully if they are going to bid.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. CLR currently holds a 9-day RSI of 51.90%, while 100-day RSI stands at 46.18%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. CLR’s 9-day MACD is 0.68 and the company’s 100-day MACD stands at -2.47.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 79.60% by insiders and 21.08% by institutions. Regarding institutional holdings, Vanguard Group, Inc. (The) owns 2.00%, while the second top holder, State Street Corporation, currently owns 1.56%.
Over the last six months, insiders have bought 769,235 with the most recent transaction from Hamm Harold, Executive Chairman, with a purchase at price 12.68 per share.
Overall, the recommended rating for CLR is Hold. Currently, the company has 28 analysts watching the stock, and the average quarterly earnings estimate is -0.28. Quarterly revenue estimates are averaging 578.63M with the high estimate reaching 691.1M and the low at 365.23M.
To review, the current 1-year target estimate is sitting at 19.17, while the current price 13.45. Based on this, we expect the stock to rise considering the aforementioned fundamentals.