Large Inflow of Money Detected in Continental Resources

Continental Resources (CLR) : $7.15 million worth of transactions were on upticks in Continental Resources (CLR), compared to $6.12 million on downticks. The ratio between the two was 1.17, whereas, the net money flow stood at a healthy $1.03 million on Wednesdays session.The block trades show a bullish bias with only $1 million worth of transactions done on downticks. The consistent buying on upticks in the stock accounted for $0.56million worth of trades. The up-down ratio between the uptick and downtick was 0.56, confirming that the stronger hands have been buying the stock on every weakness. The total money flow into the stock stood at $-0.44 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.24%. The stock was trading at $45.62, with a drop of $0.11 over the previous days close. The stock recorded -0.74% for the week.


Also, Deutsche Bank maintains its rating on Continental Resources (NYSE:CLR). The global brokerage major raises the current price target from $48 per share to $50 per share. Analysts at the Deutsche Bank have a current rating of Buy on the shares. The rating by the firm was issued on June 14, 2016.

Continental Resources (NYSE:CLR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.36 and $44.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.40, notching a gain of 1.47% for the day. The total traded volume was 2,235,967 . The stock had closed at $45.73 on the previous day.

The stock has recorded a 20-day Moving Average of 4.14% and the 50-Day Moving Average is 8.53%. In a related news, The Securities and Exchange Commission has divulged that Hamm Harold, Director Officer 10% Owner (Ceo & Chairman) of CONTINENTAL RESOURCES, INC, had unloaded 180,505,408 shares at an average price of $19.39 in a transaction dated on September 16, 2015. The total value of the transaction was worth $3,499,999,861.

Continental Resources, Inc. is an independent crude oil and natural gas exploration and production company. The Company owns properties 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 and the Red River units. The Bakken field of North Dakota and Montana is a crude oil resource play. The South region includes Kansas and all properties south of Kansas and west of the Mississippi River, including various plays in the South Central Oklahoma Oil Province (SCOOP), Northwest Cana and Arkoma areas of Oklahoma. The East region comprises undeveloped leasehold acreage east of the Mississippi River.

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