Continental Resources, Inc. (CLR) to Post Q1 2018 Earnings of $0.29 Per Share, KeyCorp Forecasts
Continental Resources, Inc. (NYSE:CLR) – Investment analysts at KeyCorp issued their Q1 2018 earnings estimates for shares of Continental Resources in a research note issued to investors on Sunday. KeyCorp analyst D. Deckelbaum anticipates that the oil and natural gas company will earn $0.29 per share for the quarter. KeyCorp also issued estimates for Continental Resources’ Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.47 EPS and Q4 2018 earnings at $0.52 EPS.
CLR has been the topic of several other reports. Jefferies Group LLC reiterated a “buy” rating and set a $63.00 target price (up from $60.00) on shares of Continental Resources in a research report on Sunday, January 29th. BMO Capital Markets reduced their target price on Continental Resources from $13.00 to $11.50 in a research report on Thursday, March 9th. Zacks Investment Research downgraded Continental Resources from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Scotiabank reduced their target price on Continental Resources from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, March 9th. Finally, Instinet reiterated a “positive” rating on shares of Continental Resources in a research report on Monday, January 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $56.71.
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Shares of Continental Resources (NYSE:CLR) traded up 0.226% during mid-day trading on Wednesday, hitting $42.105. The company had a trading volume of 487,336 shares. The company’s market cap is $15.62 billion. Continental Resources has a 12 month low of $39.30 and a 12 month high of $60.30. The firm has a 50-day moving average of $43.29 and a 200-day moving average of $47.46.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $685.43 million during the quarter, compared to the consensus estimate of $646.46 million. Continental Resources had a negative return on equity of 8.69% and a negative net margin of 28.27%.
A number of large investors have recently modified their holdings of CLR. Vanguard Group Inc. raised its stake in shares of Continental Resources by 3.0% in the first quarter. Vanguard Group Inc. now owns 6,446,564 shares of the oil and natural gas company’s stock worth $292,802,000 after buying an additional 188,171 shares during the period. BlackRock Inc. raised its stake in shares of Continental Resources by 4,992.6% in the first quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after buying an additional 4,863,974 shares during the period. Bank of America Corp DE raised its stake in shares of Continental Resources by 86.6% in the first quarter. Bank of America Corp DE now owns 3,497,989 shares of the oil and natural gas company’s stock worth $158,879,000 after buying an additional 1,623,470 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Continental Resources by 1.3% in the first quarter. TIAA CREF Investment Management LLC now owns 3,074,799 shares of the oil and natural gas company’s stock worth $139,657,000 after buying an additional 38,889 shares during the period. Finally, State Street Corp raised its stake in shares of Continental Resources by 7.5% in the first quarter. State Street Corp now owns 2,796,992 shares of the oil and natural gas company’s stock worth $127,042,000 after buying an additional 194,211 shares during the period. Hedge funds and other institutional investors own 23.17% of the company’s stock.
In other Continental Resources news, CEO Harold Hamm acquired 32,985 shares of the stock in a transaction on Tuesday, March 28th. The stock was purchased at an average price of $42.90 per share, for a total transaction of $1,415,056.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John D. Hart sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $45.50, for a total value of $273,000.00. The disclosure for this sale can be found here. 76.97% of the stock is currently owned by company insiders.
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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