Goldman Sachs Reports Continental Resources (CLR) Downgrade from Buy; Oge Energy (OGE) Sellers Decreased By 36.24% Their Shorts

OGE Energy Corp. (NYSE:OGE) Logo

Goldman Sachs lowered shares of Continental Resources (NYSE:CLR) from a Buy rating to a Neutral rating in a a research report revealed to clients on Thursday, 12 April.

Oge Energy Corporation (NYSE:OGE) had a decrease of 36.24% in short interest. OGE’s SI was 2.94 million shares in April as released by FINRA. Its down 36.24% from 4.61 million shares previously. With 1.54 million avg volume, 2 days are for Oge Energy Corporation (NYSE:OGE)’s short sellers to cover OGE’s short positions. The SI to Oge Energy Corporation’s float is 1.47%. It closed at $31.8 lastly. It is down 8.90% since April 12, 2017 and is downtrending. It has underperformed by 20.45% the S&P500.

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services well-known provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company has market cap of $6.35 billion. The firm operates in two divisions, Electric Utility and Natural Gas Midstream Operations. It has a 10.26 P/E ratio. The Electric Utility segment generates, transmits, distributes, and sells electric energy in Oklahoma and western Arkansas.

Among 11 analysts covering OGE Energy (NYSE:OGE), 3 have Buy rating, 0 Sell and 8 Hold. Therefore 27% are positive. OGE Energy had 23 analyst reports since August 7, 2015 according to SRatingsIntel. The stock of OGE Energy Corp. (NYSE:OGE) earned “Hold” rating by Jefferies on Wednesday, September 27. The firm has “Buy” rating given on Friday, February 23 by Bank of America. The rating was maintained by Jefferies on Friday, June 9 with “Hold”. The stock of OGE Energy Corp. (NYSE:OGE) earned “Hold” rating by KeyBanc Capital Markets on Wednesday, October 18. As per Friday, October 6, the company rating was downgraded by Wells Fargo. The stock of OGE Energy Corp. (NYSE:OGE) earned “Hold” rating by Jefferies on Friday, July 21. Goldman Sachs upgraded it to “Buy” rating and $38.0 target in Wednesday, January 10 report. The firm earned “Hold” rating on Thursday, December 3 by Wunderlich. The firm earned “Hold” rating on Thursday, January 18 by Bank of America. The rating was downgraded by Argus Research to “Hold” on Monday, April 11.

Investors sentiment increased to 1.09 in Q4 2017. Its up 0.09, from 1 in 2017Q3. It improved, as 28 investors sold OGE Energy Corp. shares while 110 reduced holdings. 50 funds opened positions while 100 raised stakes. 121.48 million shares or 1.46% less from 123.28 million shares in 2017Q3 were reported. Financial Architects invested in 700 shares or 0% of the stock. Balyasny Asset Limited Liability Com owns 31,998 shares for 0% of their portfolio. 205 are owned by Tci Wealth Advsrs. Atwood & Palmer Incorporated holds 1,120 shares or 0.01% of its portfolio. Mcgowan Grp Asset holds 0.06% of its portfolio in OGE Energy Corp. (NYSE:OGE) for 10,834 shares. Trust Of Vermont reported 0% in OGE Energy Corp. (NYSE:OGE). Sumitomo Mitsui Tru holds 0.03% or 624,305 shares. Pensionfund Dsm Netherlands accumulated 77,000 shares. Commonwealth Of Pennsylvania School Empls Retrmt System has 0.02% invested in OGE Energy Corp. (NYSE:OGE) for 52,215 shares. Ironwood Inv Counsel Limited Liability Co holds 1.25% of its portfolio in OGE Energy Corp. (NYSE:OGE) for 103,083 shares. Shine Advisory Service accumulated 231 shares or 0% of the stock. Moreover, James Investment has 0.05% invested in OGE Energy Corp. (NYSE:OGE). Moreover, California State Teachers Retirement Systems has 0.02% invested in OGE Energy Corp. (NYSE:OGE) for 368,431 shares. Verition Fund Mgmt Limited Liability Company, a Connecticut-based fund reported 20,161 shares. Mercer Advisers holds 0.17% or 7,156 shares.

Since February 26, 2018, it had 2 insider buys, and 0 insider sales for $63,162 activity. The insider WALWORTH CHARLES B bought 100 shares worth $3,228. $59,934 worth of OGE Energy Corp. (NYSE:OGE) shares were bought by Clarke Peter D..

Since December 13, 2017, it had 2 buys, and 4 sales for $240,250 activity. On Thursday, March 8 Hart John D sold $796,950 worth of Continental Resources, Inc. (NYSE:CLR) or 15,000 shares. 31,995 shares were bought by Hamm Harold, worth $1.56M. Eissenstat Eric Spencer also sold $560,192 worth of Continental Resources, Inc. (NYSE:CLR) shares. 20,000 shares were sold by MONROE MARK E, worth $958,024. $313,635 worth of Continental Resources, Inc. (NYSE:CLR) was sold by McNabb John T II.

Among 39 analysts covering Continental Resources Inc. (NYSE:CLR), 29 have Buy rating, 0 Sell and 10 Hold. Therefore 74% are positive. Continental Resources Inc. has $78.0 highest and $11.50 lowest target. $54.21’s average target is -12.35% below currents $61.85 stock price. Continental Resources Inc. had 160 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, August 5 by Canaccord Genuity. The company was initiated on Monday, October 31 by Citigroup. Stifel Nicolaus downgraded Continental Resources, Inc. (NYSE:CLR) on Wednesday, April 6 to “Hold” rating. The rating was downgraded by Howard Weil on Monday, May 16 to “Sector Outperform”. The firm has “Buy” rating given on Tuesday, January 17 by Jefferies. The firm has “Buy” rating given on Monday, February 5 by FBR Capital. The stock has “Buy” rating by Jefferies on Tuesday, January 30. Imperial Capital upgraded the shares of CLR in report on Thursday, November 9 to “Outperform” rating. The stock has “Buy” rating by Stifel Nicolaus on Thursday, July 13. The rating was initiated by Credit Suisse with “Neutral” on Monday, June 6.

Continental Resources, Inc. explores for, develops, and produces natural gas and crude oil properties in the north, south, and east regions of the United States. The company has market cap of $22.96 billion. The firm sells its natural gas and crude oil production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies. It has a 29.31 P/E ratio. As of December 31, 2016, its estimated proved reserves were 1,275 million barrels of crude oil equivalent with estimated proved developed reserves of 519 MMBoe.

The stock increased 1.41% or $0.86 during the last trading session, reaching $61.85. About 3.73 million shares traded or 41.29% up from the average. Continental Resources, Inc. (NYSE:CLR) has risen 34.29% since April 12, 2017 and is uptrending. It has outperformed by 22.74% the S&P500.

Investors sentiment increased to 1.05 in 2017 Q4. Its up 0.28, from 0.77 in 2017Q3. It increased, as 24 investors sold Continental Resources, Inc. shares while 109 reduced holdings. 55 funds opened positions while 85 raised stakes. 81.44 million shares or 1.67% less from 82.82 million shares in 2017Q3 were reported. 60,871 were reported by Pillar Pacific Capital Limited Liability. Greenleaf Tru owns 5,169 shares or 0.01% of their US portfolio. Creative Planning stated it has 16,714 shares or 0% of all its holdings. Walleye Trading Limited Liability owns 5,160 shares for 0% of their portfolio. Columbia Pacific Advisors Ltd Liability owns 52,376 shares for 4.13% of their portfolio. Tx accumulated 88,355 shares. Nuveen Asset Mgmt Ltd Co reported 0% of its portfolio in Continental Resources, Inc. (NYSE:CLR). Nomura Asset Mngmt Limited holds 12,438 shares. Virtu Fin Ltd invested in 0.03% or 11,300 shares. The Arizona-based Tci Wealth Incorporated has invested 0% in Continental Resources, Inc. (NYSE:CLR). Goldman Sachs Grp Inc holds 0.01% in Continental Resources, Inc. (NYSE:CLR) or 755,802 shares. Utah Retirement holds 16,104 shares. Qs Ltd Company holds 0% or 6,800 shares in its portfolio. Brown Advisory owns 17,108 shares. Guggenheim Cap Lc, Illinois-based fund reported 49,247 shares.

Analysts await Continental Resources, Inc. (NYSE:CLR) to report earnings on May, 2. They expect $0.57 earnings per share, up 2,750.00% or $0.55 from last year’s $0.02 per share. CLR’s profit will be $211.58M for 27.13 P/E if the $0.57 EPS becomes a reality. After $0.41 actual earnings per share reported by Continental Resources, Inc. for the previous quarter, Wall Street now forecasts 39.02% EPS growth.

OGE Energy Corp. (NYSE:OGE) Institutional Positions Chart