In after-hours trading, Continental Resources Inc. (CLR) has fallen -0.05% to $36.50 at the last check on Monday. The CLR stock price closed at $36.52 last trading session, rising 7.16%. Continental Resources stock traded at a range of $34.435 to $36.58. CLR stock traded 1.86 million shares, less than its daily average of 2.18 million shares over the past 100 days.
During the last five days, shares of CLR have risen by 3.16%, while in the past month; they have climbed by 21.57%. At the current price to book ratio of 2.08, CLR has a dividend yield of 1.20%. CLR recently announced board changes and saw insider trading.
What changes were made?
A leader in the energy renaissance in America, Continental Resources is one of the top 10 independent oil producers in the US. Oklahoma City-based CLR Energy is the largest holder of Bakken oil leases in North Dakota and Montana, and the country’s largest producer. As a result of its SCOOP Woodford, SCOOP Springer, and STACK discoveries, CLR has significant positions in Oklahoma.
In an announcement made recently by Continental Resources, Eric S. Eissenstat informed the company that he would be retiring as Secretary, Vice President, General Counsel, and Chief Risk Officer.
Having decided to return to private practice, Evan Eissenstat will focus primarily on access to justice and community service issues while also providing high-quality legal services to CLR and other clients. On September 1, 2021, Jim Webb will begin his new role as Senior Vice President, General Counsel, Chief Risk Officer, and Secretary in accordance with a managed transition.
Eissenstat will remain with CLR for some time after that to work on more substantive matters, before handing over his responsibilities to Mr. Webb. Previously, the new General Counsel practiced in Denver, Colorado, and Oklahoma City for 19 years before a 9-year stint at Chesapeake Energy as Executive Vice President, General Counsel, and Corporate Secretary.
The Continental’s chairman bought the stock for almost $10 million just before prices crashed last week. Data compiled by Bloomberg showed that earlier last week Harold Hamm purchased 270,000 shares of the company he founded in 1967, which were at their highest prices since 2019. It was his first purchase of CLR stock since September.
During Thursday’s sharp decline in the CLR stock, stocks of shale drillers were weighed down by an energy markets selloff, while the drop on Friday was about 1%. As a result of lower oil prices and years of runaway spending and overproduction, Continental (CLR)’s shares have plunged more than 50% from a peak in 2014.