Imperial Capital Weighs in on Continental Resources, Inc.’s Q1 2019 Earnings (CLR)

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Continental Resources, Inc. (NYSE:CLR) – Equities researchers at Imperial Capital boosted their Q1 2019 EPS estimates for shares of Continental Resources in a report released on Wednesday, February 20th. Imperial Capital analyst J. Wangler now forecasts that the oil and natural gas company will post earnings per share of $0.39 for the quarter, up from their previous estimate of $0.38. Imperial Capital also issued estimates for Continental Resources’ FY2019 earnings at $1.90 EPS and FY2020 earnings at $3.01 EPS.

A number of other analysts have also commented on the stock. Capital One Financial raised shares of Continental Resources from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. UBS Group reissued a “buy” rating on shares of Continental Resources in a research report on Friday, November 9th. Guggenheim reissued a “buy” rating and issued a $74.00 price objective on shares of Continental Resources in a research report on Thursday, November 1st. Zacks Investment Research lowered shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, ValuEngine lowered shares of Continental Resources from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $68.34.

Shares of CLR opened at $45.00 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. Continental Resources has a twelve month low of $35.54 and a twelve month high of $71.95. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.50 and a beta of 1.50.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Monday, February 18th. The oil and natural gas company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.07). Continental Resources had a net margin of 20.99% and a return on equity of 18.92%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently bought and sold shares of CLR. BlackRock Inc. increased its stake in shares of Continental Resources by 5.5% in the third quarter. BlackRock Inc. now owns 5,095,210 shares of the oil and natural gas company’s stock valued at $347,901,000 after buying an additional 266,183 shares during the period. Morgan Stanley increased its stake in shares of Continental Resources by 12.3% in the third quarter. Morgan Stanley now owns 1,695,983 shares of the oil and natural gas company’s stock valued at $115,802,000 after buying an additional 185,580 shares during the period. Prudential Financial Inc. increased its stake in shares of Continental Resources by 31.0% in the third quarter. Prudential Financial Inc. now owns 1,225,496 shares of the oil and natural gas company’s stock valued at $83,677,000 after buying an additional 290,300 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Continental Resources by 26.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,220,703 shares of the oil and natural gas company’s stock valued at $49,059,000 after buying an additional 257,350 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Continental Resources by 35.4% in the third quarter. Janus Henderson Group PLC now owns 1,048,560 shares of the oil and natural gas company’s stock valued at $71,596,000 after buying an additional 274,276 shares during the period. 20.68% of the stock is owned by institutional investors and hedge funds.

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

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