Continental Resources, Inc. (NYSE:CLR) – Research analysts at Imperial Capital upped their Q1 2018 EPS estimates for shares of Continental Resources in a report released on Tuesday, April 24th. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will post earnings per share of $0.57 for the quarter, up from their prior forecast of $0.45. Imperial Capital also issued estimates for Continental Resources’ FY2019 earnings at $3.05 EPS.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $978.63 million. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The company’s quarterly revenue was up 90.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share.
Several other equities research analysts also recently weighed in on the stock. Stephens set a $86.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus set a $66.00 price target on shares of Continental Resources and gave the company a “buy” rating in a report on Monday. SunTrust Banks set a $80.00 price target on shares of Continental Resources and gave the company a “buy” rating in a report on Sunday. Morgan Stanley upped their price target on shares of Continental Resources from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, April 20th. Finally, Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Eleven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $58.91.
CLR stock opened at $65.37 on Wednesday. The stock has a market capitalization of $24,370.27, a P/E ratio of 128.18 and a beta of 1.27. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $66.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.87.
Several institutional investors and hedge funds have recently modified their holdings of 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 purchasing 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 purchasing 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 purchasing 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 purchasing an additional 24,848 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Continental Resources by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 986,457 shares of the oil and natural gas company’s stock valued at $52,253,000 after purchasing an additional 351,930 shares during the period. Institutional investors own 22.46% of the company’s stock.
In other Continental Resources news, CEO Harold Hamm bought 99,028 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $50.26 per share, for a total transaction of $4,977,147.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction dated 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 have acquired 156,909 shares of company stock valued at $7,846,156 over the last ninety days. Insiders own 76.83% 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.
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