Continental Resources (CLR) : Traders are bullish on Continental Resources (CLR) as it has outperformed the S&P 500 by a wide margin of 8.09% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.25%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.21% in the last 1 week, and is up 8.51% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Continental Resources, Inc. is up 18.95% in the last 3-month period. Year-to-Date the stock performance stands at 112.01%. The stock has recorded a 20-day Moving Average of 8.62% and the 50-Day Moving Average is 9.91%.
Continental Resources (NYSE:CLR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $48.11 and $48.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $48.72, notching a gain of 0.10% for the day. The total traded volume was 1,611,857 . The stock had closed at $48.67 on the previous day.
Also, Wells Fargo initiates coverage on Continental Resources (NYSE:CLR).The analysts at the brokerage house have a current rating of Outperform on the shares. The rating by the firm was issued on August 16, 2016.
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.