Continental Resources, Inc. (CLR) Expected to Announce Earnings of $0.81 Per Share

Wall Street analysts forecast that Continental Resources, Inc. (NYSE:CLR) will report earnings per share (EPS) of $0.81 for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Continental Resources’ earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.97. Continental Resources reported earnings per share of $0.09 in the same quarter last year, which suggests a positive year over year growth rate of 800%. The business is expected to issue its next earnings results on Tuesday, November 6th.

On average, analysts expect that Continental Resources will report full year earnings of $3.14 per share for the current fiscal year, with EPS estimates ranging from $2.76 to $3.52. For the next financial year, analysts anticipate that the business will post earnings of $3.78 per share, with EPS estimates ranging from $2.78 to $4.90. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Continental Resources.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion.

A number of equities research analysts recently weighed in on CLR shares. Morgan Stanley reduced their price target on shares of Continental Resources from $97.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Friday, June 8th. Citigroup reduced their target price on shares of Continental Resources from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, July 25th. Barclays assumed coverage on shares of Continental Resources in a report on Wednesday, August 29th. They issued an “overweight” rating and a $77.00 target price for the company. Finally, TD Securities assumed coverage on shares of Continental Resources in a report on Thursday, July 5th. They issued a “hold” rating and a $73.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Continental Resources currently has an average rating of “Buy” and an average target price of $70.09.

Several institutional investors have recently modified their holdings of CLR. Rockefeller Capital Management L.P. acquired a new position in shares of Continental Resources during the first quarter worth about $135,000. Credit Agricole S A increased its stake in shares of Continental Resources by 85.7% during the first quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 1,200 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of Continental Resources by 4,924.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock worth $163,000 after acquiring an additional 2,462 shares during the period. Asset Management Advisors LLC acquired a new position in shares of Continental Resources during the second quarter worth about $201,000. Finally, Barings LLC acquired a new position in shares of Continental Resources during the second quarter worth about $216,000. Institutional investors and hedge funds own 22.52% of the company’s stock.

Shares of CLR opened at $62.23 on Friday. Continental Resources has a 1-year low of $36.05 and a 1-year high of $69.91. The firm has a market capitalization of $23.40 billion, a P/E ratio of 122.02, a P/E/G ratio of 1.34 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.89.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

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Earnings History and Estimates for Continental Resources (NYSE:CLR)

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