Continental Resources Inc. stock trades under the ticker CLR & has shown recent bullishness amid broader market volatility that traders & investors should research further.
CLR stock closed at $62.17/share on 5/6/2022.
Continental Resources Inc. CLR Stock’s Technicals Broken Down
CLR Stock Price: $62.17
10 Day Moving Average: $57.57
50 Day Moving Average: $60.07
200 Day Moving Average: $48.93
RSI: 56.03
MACD: -0.396
CLR stock completed a bullish MACD crossover on Friday, while notching a fourth consecutive day of gains.
With their RSI still in neutral range at 56 & 4.3% between their 10 & 50 day moving averages, there looks to be more momentum in the near-term, despite only trading at about average volume compared to the year prior.
CLR will need to break through the $62.47, $62.56 & $63.20 resistance levels as they continue climbing higher.
Continental Resources Inc. CLR Stock As A Long-Term Investment
Long-term oriented investors will find CLR stock’s valuation metrics appealing, with a P/E (ttm) of 11.11 & a P/B (mrq) of 2.81.
They recently reported 121.7% Quarterly Revenue GrRowth Y-o-Y.
Investors may want to take a closer look into the structure of their balance sheet, with $20.87M in Total Cash (mrq) & $6.84B in Total Debt (mrq).
Moody’s rates CLR’s debt rating Baa3, which is considered lower-medium grade.
CLR stock pays a 0.76% dividend yield, which appears stable in the long-term as their payout ratio is 12.57%.
13.55% of CLR stock’s outstanding share float is held by institutional investors.
Continental Resources Inc. CLR Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to profit from CLR stock’s price movement, while hedging against volatility in the broader markets.
I am looking at the contracts with the 5/20 expiration date.
The $60, $61 & $62 call options all look appealing & in-the-money, although the latter 2 have much less open interest compared to the former.
The $66, $65 & $63 puts also look interesting, but are very illiquid, with only 52 open contracts between all three strike prices, which some traders will not like.
Tying It All Together
CLR stock has many interesting characteristics that investors & traders alike will find positive.
Investors will like their valuation metrics & the stability of their dividend.
Traders will like their current momentum, but may be more pleased with the liquidity of their options contracts after this week’s weekly expiration passes.
Overall, CLR stock is worth taking a closer look at, regardless of how your portfolio is structured.
*** I DO NOT OWN SHARES OF CLR STOCK AT THE TIME OF PUBLISHING THIS NOTE ***