Insider Trading Report: Continental Resources (CLR)

Harold Hamm, a director and major holder at Continental Resources (CLR), recently bought 76,486 shares. The buy increased his stake by 0.03 percent. The buy comes two days after a 270,000 share buy. In total, the insider has bought more than $10 million in shares this month.

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  • Other company insiders have been active in the past year, although insider sales have outpaced insider buys, even as shares have trended higher in the past year.

    Overall, company insiders own a whopping 82 percent of shares. The oil and gas exploration company has seen shares rise 117 percent in the past year, far outpacing the overall market, as energy prices have trended higher.

    The company is still coming off some losses from last year, but modest ones compared to other energy names.

    Action to take: Investors may like shares here, even after the runup. The company has reinstated a dividend, and now yields 1.2 percent. That may rise in time, especially if the company moves to profitability.

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  • Traders can play the current uptrend in shares with an option trade, like the September $40 calls. Last trading for about $2.60, the options can deliver high double-digit returns before expiration, especially if oil makes a run towards $100 per barrel as some traders are starting to bet on.

     

    Disclosure: The author of this article has no position in the stock mentioned here, but may trade this company after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.