Quick Win by the Algorithm: Continental Resources, Inc. (CLR)

Quick Win by the Algorithm

Continental Resources, Inc.

On February 26th, 2016, the I Know First algorithm gave a bullish signal of 11.35 for the ticker CLR with a predictability indicator of 0.56. In accordance with the algorithm’s prediction, CLR jumped 105.52% in the following three months.


Continental Resources, Inc. is an independent crude oil and natural gas exploration and production company with 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.

Continental Resources started 2016 well, releasing strong first-quarter earnings, showing better-than-expected results. Production for the quarter totaled 230,800 barrels of oil equivalent per day. Continental Resources succeeded in raising their full-year production outlook without boosting capex.

In addition, a factor that has driven up Continental’s performance is the improvement in the oil business, which is the second-biggest revenue source for the company after the copper business. Indeed, in the last few weeks, Brent crude oil price has recovered to slightly less than $48 per barrel while 4 months ago, Brent was trading at less than $28 per barrel. It is evident that oil prices recovery is great news for Freeport. Analysts such as Raymond James have raised their rating from outperform to strong buy due to leverage to higher oil prices. Analyst upgrades are also a growing trend in the sector.

Continental Resources delivered results investors want to see, such as improving its operations and its balance sheet.

To learn more about CLR, Click HERE