Equities research analysts expect that Continental Resources, Inc. (NYSE:CLR) will report sales of $1.07 billion for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Continental Resources’ earnings, with the lowest sales estimate coming in at $1.02 billion and the highest estimate coming in at $1.12 billion. Continental Resources reported sales of $685.43 million in the same quarter last year, which would suggest a positive year over year growth rate of 56.1%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.
On average, analysts expect that Continental Resources will report full-year sales of $4.46 billion for the current fiscal year, with estimates ranging from $4.15 billion to $4.80 billion. For the next year, analysts expect that the business will post sales of $5.03 billion per share, with estimates ranging from $4.52 billion to $5.39 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Continental Resources.
Continental Resources (NYSE:CLR) last issued its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.09. Continental Resources had a return on equity of 4.25% and a net margin of 25.30%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $978.63 million. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 90.5% on a year-over-year basis.
Several brokerages have weighed in on CLR. Cowen set a $58.00 target price on Continental Resources and gave the stock a “hold” rating in a research report on Thursday, January 18th. Tudor Pickering lowered Continental Resources from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. B. Riley assumed coverage on Continental Resources in a report on Monday, February 5th. They set a “buy” rating and a $78.00 price target on the stock. Jefferies Group set a $65.00 price target on Continental Resources and gave the company a “buy” rating in a report on Monday, March 19th. Finally, Piper Jaffray set a $67.00 price target on Continental Resources and gave the company a “buy” rating in a report on Wednesday, April 11th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $57.48.
In related news, CEO Harold Hamm purchased 99,028 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $50.26 per share, for a total transaction of $4,977,147.28. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the 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 disclosure for this sale can be found here. Insiders purchased a total of 156,909 shares of company stock valued at $7,846,156 in the last quarter. 76.83% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new stake in Continental Resources during the 4th quarter worth about $102,000. Exane Derivatives acquired a new stake in Continental Resources during the 4th quarter worth about $113,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Continental Resources by 126.7% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after acquiring an additional 1,900 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Continental Resources by 35.0% during 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 during the period. Finally, Calton & Associates Inc. acquired a new stake in Continental Resources during the 4th quarter worth about $200,000. Institutional investors and hedge funds own 22.50% of the company’s stock.
Shares of NYSE CLR opened at $64.04 on Friday. Continental Resources has a 1-year low of $29.08 and a 1-year high of $64.76. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $23,308.41, a price-to-earnings ratio of 125.57 and a beta of 1.27.
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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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