Continental Resources, Inc. (CLR) Expected to Post Earnings of $0.58 Per Share

Equities research analysts forecast that Continental Resources, Inc. (NYSE:CLR) will post earnings of $0.58 per share for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Continental Resources’ earnings, with estimates ranging from $0.36 to $0.76. Continental Resources reported earnings per share of $0.02 in the same quarter last year, which indicates a positive year-over-year growth rate of 2,800%. The company is scheduled to issue its next earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Continental Resources will report full year earnings of $2.40 per share for the current year, with EPS estimates ranging from $1.56 to $3.06. For the next financial year, analysts expect that the firm will report earnings of $2.56 per share, with EPS estimates ranging from $0.83 to $3.42. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Continental Resources.

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Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $978.63 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. Continental Resources’s revenue for the quarter was up 90.5% compared to the same quarter last year.

A number of research firms have commented on CLR. Cowen set a $58.00 target price on shares of Continental Resources and gave the company a “hold” rating in a research report on Thursday, January 18th. Tudor Pickering cut shares of Continental Resources from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. B. Riley began coverage on shares of Continental Resources in a research report on Monday, February 5th. They issued a “buy” rating and a $78.00 target price on the stock. Jefferies Group set a $65.00 target price on shares of Continental Resources and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, Seaport Global Securities raised shares of Continental Resources from a “sell” rating to a “neutral” rating in a research report on Tuesday, December 19th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.94.

NYSE CLR traded down $1.81 during trading hours on Friday, reaching $58.92. The company had a trading volume of 3,467,120 shares, compared to its average volume of 2,171,502. Continental Resources has a 1-year low of $29.08 and a 1-year high of $61.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.87. The stock has a market capitalization of $22,107.73, a P/E ratio of 115.53 and a beta of 1.27.

In other news, CEO Harold Hamm bought 99,028 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $50.26 per share, for a total transaction of $4,977,147.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $56.02, for a total transaction of $560,200.00. The disclosure for this sale can be found here. Insiders have purchased 156,909 shares of company stock worth $7,846,156 over the last 90 days. Insiders own 76.87% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new position in Continental Resources in the fourth quarter valued at approximately $102,000. Exane Derivatives acquired a new position in Continental Resources in the fourth quarter valued at approximately $113,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Continental Resources by 126.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock valued at $180,000 after purchasing an additional 1,900 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Continental Resources by 35.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after purchasing an additional 1,261 shares in the last quarter. Finally, Sii Investments Inc. WI acquired a new position in Continental Resources in the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 22.43% of the company’s stock.

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

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