5 Most Shorted Stocks in 2022

3. Continental Resources, Inc. (NYSE:CLR)

Number of Hedge Fund Holders: 29

On August 2, Paul Cheng at Scotiabank placed a Sector Perform rating on Continental Resources, Inc. (NYSE:CLR) shares. The analyst also placed an $80 price target on the stock.

As of August 31, over 2.7 million of Continental Resources, Inc.’s (NYSE:CLR) shares make up its short volume. About 2% of the company’s float was shorted in August

There were 29 hedge funds long Continental Resources, Inc. (NYSE:CLR) in the second quarter, with a total stake value of $412.9 million.

Smead Capital Management, an investment management company, mentioned Continental Resources, Inc. (NYSE:CLR) in its second quarter 2022 investor letter. Here’s what it said:

“For the quarter, our best-performing stocks were Continental Resources, Inc. (NYSE:CLR), Merck (MRK) and Occidental Petroleum (OXY). Despite a steep sell-off in June in the oil and gas stocks, two of our oil stocks made the quarterly list. Merck’s defensive characteristics and good news on earnings/growth didn’t shock us. We argued one year ago that Merck was historically cheap relative to the indexes as compared to the last 20 years.”