Jefferies Group Equities Analysts Decrease Earnings Estimates for Continental Resources, Inc. (CLR)

Continental Resources, Inc. (NYSE:CLR) – Research analysts at Jefferies Group lowered their Q1 2018 earnings per share estimates for Continental Resources in a note issued to investors on Monday, March 19th, according to Zacks Investment Research. Jefferies Group analyst M. Lear now forecasts that the oil and natural gas company will post earnings per share of $0.59 for the quarter, down from their prior estimate of $0.63. Jefferies Group currently has a “Buy” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for Continental Resources’ Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.66 EPS, FY2018 earnings at $2.61 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.70 EPS, Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.79 EPS and FY2019 earnings at $2.91 EPS.

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CLR has been the topic of a number of other research reports. Barclays restated an “overweight” rating and set a $58.00 target price (up previously from $53.00) on shares of Continental Resources in a research note on Thursday, January 11th. Stifel Nicolaus set a $68.00 target price on shares of Continental Resources and gave the company a “buy” rating in a research note on Wednesday, March 28th. Macquarie upgraded shares of Continental Resources from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $53.57 to $55.00 in a research note on Thursday, December 14th. Credit Suisse Group set a $65.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, B. Riley set a $70.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $57.13.

Shares of CLR traded down $0.86 during trading hours on Tuesday, reaching $60.99. 3,066,786 shares of the stock traded hands, compared to its average volume of 2,555,590. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 0.94. Continental Resources has a 52-week low of $29.08 and a 52-week high of $62.67. The stock has a market cap of $22,884.42, a price-to-earnings ratio of 119.59 and a beta of 1.27.

Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $978.63 million. During the same quarter in the previous year, the company earned ($0.07) EPS. Continental Resources’s revenue for the quarter was up 90.5% on a year-over-year basis.

In other news, CEO Harold Hamm purchased 99,028 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of $50.26 per share, for a total transaction of $4,977,147.28. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total transaction of $560,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 156,909 shares of company stock worth $7,846,156. Insiders own 76.87% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in Continental Resources by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,385 shares of the oil and natural gas company’s stock valued at $433,000 after purchasing an additional 920 shares during the last quarter. Amalgamated Bank grew its stake in Continental Resources by 12.8% in the 4th quarter. Amalgamated Bank now owns 9,189 shares of the oil and natural gas company’s stock worth $487,000 after acquiring an additional 1,041 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Continental Resources by 15.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,089 shares of the oil and natural gas company’s stock worth $351,000 after acquiring an additional 1,216 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Continental Resources by 35.0% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after acquiring an additional 1,261 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Continental Resources by 6.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the oil and natural gas company’s stock worth $885,000 after acquiring an additional 1,383 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.

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Continental Resources Company Profile

Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.

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

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