Capital One Financial Comments on Continental Resources, Inc.’s Q3 2018 Earnings (CLR)

Continental Resources, Inc. (NYSE:CLR) – Equities researchers at Capital One Financial lowered their Q3 2018 earnings estimates for shares of Continental Resources in a report issued on Thursday, September 20th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will earn $0.76 per share for the quarter, down from their prior forecast of $0.77. Capital One Financial also issued estimates for Continental Resources’ Q4 2018 earnings at $0.84 EPS and FY2018 earnings at $3.01 EPS.

CLR has been the subject of several other reports. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “strong-buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, July 4th. Morgan Stanley decreased their price objective on Continental Resources from $97.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. TD Securities started coverage on Continental Resources in a research report on Thursday, July 5th. They issued a “hold” rating and a $73.00 price objective for the company. Bank of America boosted their price objective on Continental Resources from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 price objective on shares of Continental Resources in a research report on Thursday, August 30th. Twelve investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $70.09.

Shares of CLR opened at $67.03 on Monday. 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 has a 52-week low of $36.05 and a 52-week high of $69.91. The company has a market capitalization of $23.40 billion, a P/E ratio of 129.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30.

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

A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. bought a new stake in shares of Continental Resources during the 1st quarter worth approximately $135,000. Moneta Group Investment Advisors LLC raised its stake in shares of Continental Resources by 4,924.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock worth $163,000 after purchasing an additional 2,462 shares in the last quarter. Credit Agricole S A raised its stake in shares of Continental Resources by 85.7% during the 1st quarter. Credit Agricole S A now owns 2,600 shares of the oil and natural gas company’s stock worth $153,000 after purchasing an additional 1,200 shares in the last quarter. Asset Management Advisors LLC bought a new stake in shares of Continental Resources during the 2nd quarter worth approximately $201,000. Finally, Barings LLC bought a new stake in shares of Continental Resources during the 2nd quarter worth approximately $216,000. 22.52% of the stock is owned by hedge funds and other institutional investors.

About Continental Resources

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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

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