Capital One Financial Weighs in on Continental Resources, Inc.’s FY2020 Earnings (NYSE:CLR)

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Continental Resources, Inc. (NYSE:CLR) – Equities researchers at Capital One Financial cut their FY2020 EPS estimates for Continental Resources in a research report issued on Wednesday, July 31st. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings per share of $3.72 for the year, down from their previous forecast of $3.73.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley dropped their price objective on shares of Continental Resources from $53.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. TD Securities dropped their price objective on shares of Continental Resources from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday. Seaport Global Securities reissued a “buy” rating on shares of Continental Resources in a research report on Friday, June 21st. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Thursday, May 2nd. Finally, KeyCorp dropped their target price on shares of Continental Resources from $55.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-seven have given a buy rating to the company. Continental Resources has an average rating of “Buy” and an average price target of $61.08.

Shares of NYSE:CLR opened at $31.46 on Monday. Continental Resources has a 52 week low of $30.32 and a 52 week high of $71.95. The firm has a 50 day moving average price of $38.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a market cap of $12.67 billion, a P/E ratio of 12.23, a PEG ratio of 1.22 and a beta of 1.65.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Continental Resources had a net margin of 20.06% and a return on equity of 16.71%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis.

Continental Resources announced that its board has approved a stock buyback program on Monday, June 3rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the oil and natural gas company to buy up to 7.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, November 6th.

In other Continental Resources news, Director John T. Mcnabb II acquired 1,000 shares of the stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $39.88 per share, with a total value of $39,880.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Harold Hamm acquired 65,000 shares of the stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $42.71 per share, for a total transaction of $2,776,150.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 104,600 shares of company stock worth $4,312,166 over the last three months. 77.03% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of CLR. Legacy Advisors LLC purchased a new position in Continental Resources during the 1st quarter worth $45,000. Westside Investment Management Inc. acquired a new stake in shares of Continental Resources in the 2nd quarter worth $49,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Continental Resources in the 2nd quarter worth $68,000. Meeder Asset Management Inc. lifted its stake in shares of Continental Resources by 31.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,622 shares of the oil and natural gas company’s stock worth $68,000 after acquiring an additional 387 shares during the period. Finally, Private Capital Group LLC lifted its stake in shares of Continental Resources by 170.9% in the 1st quarter. Private Capital Group LLC now owns 2,254 shares of the oil and natural gas company’s stock worth $101,000 after acquiring an additional 1,422 shares during the period. 20.13% of the stock is currently owned by institutional investors.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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