Analysts Expect Continental Resources, Inc. (CLR) Will Post Earnings of $0.84 Per Share

Analysts expect Continental Resources, Inc. (NYSE:CLR) to report earnings of $0.84 per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Continental Resources’ earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $1.06. Continental Resources reported earnings per share of $0.41 in the same quarter last year, which would suggest a positive year over year growth rate of 104.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 20th.

On average, analysts expect that Continental Resources will report full-year earnings of $3.15 per share for the current fiscal year, with EPS estimates ranging from $2.80 to $3.40. For the next financial year, analysts forecast that the firm will post earnings of $3.59 per share, with EPS estimates ranging from $2.33 to $5.64. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Continental Resources.

Continental Resources (NYSE:CLR) last released its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 76.4% on a year-over-year basis.

Several brokerages recently issued reports on CLR. HSBC reiterated a “hold” rating on shares of Continental Resources in a report on Friday. Cowen began coverage on Continental Resources in a report on Thursday. They issued a “market perform” rating for the company. Sanford C. Bernstein reiterated a “buy” rating on shares of Continental Resources in a report on Tuesday. Goldman Sachs Group reiterated a “buy” rating on shares of Continental Resources in a report on Tuesday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $70.00 price target on shares of Continental Resources in a report on Monday, November 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $71.48.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 76.83% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Continental Resources by 3.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 25,999 shares of the oil and natural gas company’s stock worth $1,775,000 after purchasing an additional 978 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in Continental Resources by 26.4% in the third quarter. IFM Investors Pty Ltd now owns 4,788 shares of the oil and natural gas company’s stock worth $327,000 after acquiring an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Continental Resources by 49.0% in the second quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the oil and natural gas company’s stock worth $246,000 after acquiring an additional 1,250 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Continental Resources by 1.9% in the third quarter. Nisa Investment Advisors LLC now owns 76,605 shares of the oil and natural gas company’s stock worth $5,231,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. lifted its holdings in Continental Resources by 0.5% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 293,492 shares of the oil and natural gas company’s stock worth $19,007,000 after acquiring an additional 1,530 shares during the last quarter. 22.72% of the stock is currently owned by institutional investors and hedge funds.

NYSE CLR traded down $0.64 during trading hours on Friday, hitting $45.72. The company had a trading volume of 4,151,039 shares, compared to its average volume of 2,684,275. Continental Resources has a fifty-two week low of $43.53 and a fifty-two week high of $71.95. The company has a market cap of $17.43 billion, a P/E ratio of 89.65, a P/E/G ratio of 1.20 and a beta of 1.46. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 1.00.

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.

Read More: Understanding Average Daily Trade Volume

Get a free copy of the Zacks research report on Continental Resources (CLR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply