Continental Resources Slumps: CLR Falls 7.3% in Session
Continental Resources, Inc. (CLR) saw a CLR move in the last trading session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent trend for CLR, as the stock is now down over 38% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company, engaged in the exploration, development, and production of crude oil and natural gas properties, has seen 6 negative revisions in the past few weeks and its current year earnings consensus has also moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
CLR currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Investors interested in the Oil – U.S. Exploration & Production industry may consider better-ranked stocks like Sandridge Mississippian Trust II (SDR), Cheniere Energy, Inc. (LNG) and Atlas Resource Partners, L.P. (ARP). While Sandridge carries a Zacks Rank #1 (Strong Buy), while Cheniere and Atlas Resource both hold a Zacks Rank #2 (Buy).
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CONTINENTAL RESOURCES INC (CLR): Free Stock Analysis Report
CHENIERE ENERGY INC (LNG): Free Stock Analysis Report
ATLAS RESOURCE PARTNERS LP (ARP): Free Stock Analysis Report
SANDRIDGE MISSISSIPPIAN TRUST II (SDR): Free Stock Analysis Report
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