Continental Resources, Inc. (CLR) Forecasted to Earn FY2018 Earnings of $3.28 Per Share

Continental Resources, Inc. (NYSE:CLR) – Stock analysts at Imperial Capital boosted their FY2018 earnings per share estimates for Continental Resources in a research report issued to clients and investors on Wednesday, October 31st. Imperial Capital analyst J. Wangler now anticipates that the oil and natural gas company will earn $3.28 per share for the year, up from their previous estimate of $3.12. Imperial Capital also issued estimates for Continental Resources’ FY2019 earnings at $4.66 EPS.

Several other research analysts have also recently issued reports on the company. Morgan Stanley increased their price objective on Continental Resources from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, August 16th. Scotiabank reissued a “buy” rating and issued a $78.00 price objective on shares of Continental Resources in a research note on Thursday, September 27th. BMO Capital Markets cut Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 9th. They noted that the move was a valuation call. Barclays started coverage on Continental Resources in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $77.00 price objective on the stock. Finally, Royal Bank of Canada set a $81.00 price objective on Continental Resources and gave the stock a “buy” rating in a research note on Thursday, September 20th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $72.30.

CLR opened at $52.40 on Thursday. The company has a market cap of $19.82 billion, a PE ratio of 102.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.24. Continental Resources has a one year low of $40.69 and a one year high of $71.95. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 1.00.

Continental Resources (NYSE:CLR) last released its earnings results on Monday, October 29th. The oil and natural gas company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Continental Resources had a return on equity of 18.48% and a net margin of 35.43%. The company’s quarterly revenue was up 76.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 76.83% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CLR. Russell Investments Group Ltd. boosted its position in Continental Resources by 149.8% during the 1st quarter. Russell Investments Group Ltd. now owns 6,468 shares of the oil and natural gas company’s stock valued at $381,000 after acquiring an additional 3,879 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Continental Resources by 6.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,559 shares of the oil and natural gas company’s stock valued at $918,000 after acquiring an additional 899 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Continental Resources during the 1st quarter valued at $445,000. IFM Investors Pty Ltd bought a new stake in Continental Resources during the 2nd quarter valued at $245,000. Finally, State of Alaska Department of Revenue boosted its position in Continental Resources by 35.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,950 shares of the oil and natural gas company’s stock valued at $644,000 after acquiring an additional 2,590 shares in the last quarter. 22.49% of the stock is currently 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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