Continental Resources (CLR) is Upgraded by BofA/Merrill to Buy

Continental Resources (CLR) is Upgraded by BofA/Merrill to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

Continental Resources, Inc. has dropped 21.68% during the last 3-month period . Year-to-Date the stock performance stands at -40.09%.The company shares have dropped -42.64% from its 1 Year high price. On Apr 23, 2015, the shares registered one year high at $53.65 and the one year low was seen on Dec 22, 2015. The 50-Day Moving Average price is $30.17 and the 200 Day Moving Average price is recorded at $33.37.

Continental Resources, Inc. (NYSE:CLR) has lost 3.57% during the past week and dropped 28.17% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 2.76%. Continental Resources, Inc. (NYSE:CLR) has underperformed the index by 26.49% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Continental Resources, Inc. (NYSE:CLR) : On Thursday heightened volatility was witnessed in Continental Resources, Inc. (NYSE:CLR) which led to swings in the share price. The shares opened for trading at $22.08 and hit $23.21 on the upside , eventually ending the session at $22.98, with a gain of 3.28% or 0.73 points. The heightened volatility saw the trading volume jump to 4,249,624 shares. The 52-week high of the share price is $53.65 and the company has a market cap of $8,572 million. The 52-week low of the share price is at $19.6 .

Currently the company Insiders own 68.96% of Continental Resources, Inc. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -1.94% . Institutional Investors own 21.56% of Continental Resources, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -1.45%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The officer (Sr. VP & CFO), of Continental Resources, Inc, Hart John D had unloaded 5,000 shares at $36.1 per share in a transaction on November 6, 2015. The total value of transaction was $180,500. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Continental Resources, Inc. (Continental Resources) is an independent crude oil and natural gas exploration and production company with operations in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi river and includes North Dakota Bakken, Montana Bakken, the Red River units and the Niobrara play in Colorado and Wyoming. The South region includes Kansas and all properties south of Kansas and west of the Mississippi river including the Anadarko Woodford and Arkoma Woodford plays in Oklahoma. The East region contains properties east of the Mississippi river, including the Illinois Basin and the state of Michigan. During the year ended December 31, 2011, daily production averaged 61,865 barrel of oil equivalent per day.