Wall Street analysts expect that Continental Resources, Inc. (NYSE:CLR) will report $1.38 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Continental Resources’ earnings, with estimates ranging from $1.29 billion to $1.43 billion. Continental Resources posted sales of $1.05 billion in the same quarter last year, which would indicate a positive year over year growth rate of 31.4%. The company is scheduled to announce its next earnings report on Wednesday, February 20th.
On average, analysts expect that Continental Resources will report full-year sales of $4.92 billion for the current year, with estimates ranging from $4.81 billion to $5.15 billion. For the next year, analysts forecast that the business will post sales of $6.00 billion, with estimates ranging from $5.35 billion to $6.74 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Continental Resources.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the company posted $0.09 EPS. The company’s revenue for the quarter was up 76.4% compared to the same quarter last year.
CLR has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on Continental Resources from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. Scotiabank reiterated a “buy” rating and issued a $78.00 price target on shares of Continental Resources in a research note on Thursday, September 27th. BMO Capital Markets downgraded Continental Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 9th. They noted that the move was a valuation call. Barclays initiated coverage on Continental Resources in a report on Wednesday, August 29th. They set an “overweight” rating and a $77.00 price objective on the stock. Finally, Royal Bank of Canada set a $81.00 price objective on Continental Resources and gave the company a “buy” rating in a report on Thursday, September 20th. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $72.03.
Shares of CLR traded down $0.45 during midday trading on Friday, hitting $49.89. The company’s stock had a trading volume of 582,646 shares, compared to its average volume of 2,543,622. Continental Resources has a one year low of $42.53 and a one year high of $71.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 97.82, a PEG ratio of 1.27 and a beta of 1.46.
In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 76.83% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its holdings in 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 buying an additional 2,462 shares during the period. Asset Management Advisors LLC acquired a new position in Continental Resources during the 2nd quarter worth about $201,000. Deprince Race & Zollo Inc. acquired a new position in Continental Resources during the 3rd quarter worth about $205,000. Jaffetilchin Investment Partners LLC acquired a new position in Continental Resources during the 3rd quarter worth about $212,000. Finally, Barings LLC acquired a new position in Continental Resources during the 2nd quarter worth about $216,000. 22.43% of the stock is currently 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.
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