Continental Resources, Inc. CLR saw a big move in the last trading session, as the company’s shares fell by nearly 12% 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 44% in the past one-month time frame.
This slump shouldn’t be too much of a surprise to investors, as the company, which explores, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the U.S., has seen 4 negative revisions in the past few weeks and its current year loss 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 a better-ranked stock like Antero Resources Corporation AR, carrying a Zacks Rank #1 (Strong Buy).
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