Continental Resources, Inc. to Post Q4 2017 Earnings of $0.39 Per Share, Imperial Capital Forecasts (CLR)

Continental Resources, Inc. (NYSE:CLR) – Investment analysts at Imperial Capital boosted their Q4 2017 earnings estimates for Continental Resources in a research note issued on Tuesday. 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 prior estimate of $0.31. Imperial Capital has a “Outperform” rating and a $60.00 price objective on the stock. Imperial Capital also issued estimates for Continental Resources’ FY2019 earnings at $2.24 EPS.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.09. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $978.63 million. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. Continental Resources’s revenue for the quarter was up 90.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS.

CLR has been the topic of a number of other reports. TheStreet raised Continental Resources from a “d+” rating to a “c” rating in a research note on Friday, November 17th. Royal Bank of Canada lifted their price target on Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $70.00 price target (up from $65.00) on shares of Continental Resources in a research note on Tuesday. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, November 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $69.00 price target (down from $71.00) on shares of Continental Resources in a research note on Friday, February 16th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $55.98.

Continental Resources (NYSE CLR) opened at $52.57 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market capitalization of $19,730.00, a P/E ratio of -751.00 and a beta of 1.36. Continental Resources has a 12 month low of $29.08 and a 12 month high of $58.89.

In related news, Director Mark E. Monroe sold 20,000 shares of Continental Resources stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total transaction of $958,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Gary E. Gould sold 5,000 shares of Continental Resources stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $49.52, for a total value of $247,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,874 shares of company stock worth $2,603,673. Corporate insiders own 76.87% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Continental Resources by 1.4% during the fourth quarter. BlackRock Inc. now owns 4,754,734 shares of the oil and natural gas company’s stock valued at $251,860,000 after purchasing an additional 64,943 shares in the last quarter. State Street Corp boosted its position in shares of Continental Resources by 14.4% during the second quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock valued at $103,474,000 after purchasing an additional 403,667 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Continental Resources by 1.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,920,011 shares of the oil and natural gas company’s stock valued at $154,673,000 after purchasing an additional 43,649 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Continental Resources by 3.4% during the fourth quarter. Teachers Advisors LLC now owns 1,978,228 shares of the oil and natural gas company’s stock valued at $104,787,000 after purchasing an additional 65,229 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Continental Resources by 1.5% during the fourth quarter. Jennison Associates LLC now owns 1,631,882 shares of the oil and natural gas company’s stock valued at $86,441,000 after purchasing an additional 24,848 shares in the last quarter. Institutional investors own 22.37% of the company’s stock.

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About Continental Resources

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.

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

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