Seaport Global Securities Equities Analysts Increase Earnings Estimates for Continental Resources, Inc. (CLR)

Continental Resources, Inc. (NYSE:CLR) – Analysts at Seaport Global Securities raised their FY2018 earnings per share estimates for shares of Continental Resources in a research note issued to investors on Tuesday, April 3rd. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings per share of $2.25 for the year, up from their prior forecast of $1.89. Seaport Global Securities currently has a “Neutral” rating on the stock.

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Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.09. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $978.63 million. During the same quarter last year, the firm posted ($0.07) earnings per share. The business’s revenue for the quarter was up 90.5% compared to the same quarter last year.

A number of other research analysts also recently issued reports on CLR. TheStreet upgraded shares of Continental Resources from a “c” rating to a “b” rating in a research note on Monday, March 26th. Piper Jaffray reiterated a “buy” rating and issued a $57.00 price target on shares of Continental Resources in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $52.00 price target on shares of Continental Resources in a research note on Wednesday, December 20th. Jefferies Group set a $57.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, 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. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Continental Resources currently has a consensus rating of “Buy” and a consensus target price of $56.94.

NYSE CLR opened at $58.92 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. Continental Resources has a one year low of $29.08 and a one year high of $61.67. The company has a market capitalization of $22,073.95, a PE ratio of 115.53 and a beta of 1.27.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Continental Resources by 1.4% in the 4th quarter. BlackRock Inc. now owns 4,754,734 shares of the oil and natural gas company’s stock valued at $251,860,000 after acquiring an additional 64,943 shares during the period. TIAA CREF Investment Management LLC increased its holdings in shares of Continental Resources by 1.5% in the 4th 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 acquiring an additional 43,649 shares during the period. Teachers Advisors LLC increased its holdings in shares of Continental Resources by 3.4% in the 4th 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 acquiring an additional 65,229 shares during the period. Jennison Associates LLC increased its holdings in shares of Continental Resources by 1.5% in the 4th 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 acquiring an additional 24,848 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Continental Resources by 101.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock valued at $57,798,000 after acquiring an additional 748,025 shares during the period. 22.43% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Eric Spencer Eissenstat sold 10,000 shares of Continental Resources stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total value of $560,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John D. Hart sold 15,000 shares of Continental Resources stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $53.13, for a total transaction of $796,950.00. The disclosure for this sale can be found here. Insiders have bought a total of 156,909 shares of company stock valued at $7,846,156 in the last 90 days. Insiders own 76.87% 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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