Q3 2017 EPS Estimates for Continental Resources, Inc. (CLR) Reduced by Seaport Global Securities
Continental Resources, Inc. (NYSE:CLR) – Analysts at Seaport Global Securities cut their Q3 2017 EPS estimates for Continental Resources in a research report issued on Wednesday. Seaport Global Securities analyst M. Kelly now anticipates that the oil and natural gas company will post earnings of ($0.02) per share for the quarter, down from their prior estimate of $0.14. Seaport Global Securities has a “Sell” rating and a $20.00 price objective on the stock. Seaport Global Securities also issued estimates for Continental Resources’ Q4 2017 earnings at ($0.01) EPS and FY2017 earnings at ($0.01) EPS.
Continental Resources (NYSE:CLR) last released its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The firm had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%. COPYRIGHT VIOLATION WARNING: This story was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/06/23/q3-2017-eps-estimates-for-continental-resources-inc-clr-reduced-by-seaport-global-securities.html.
A number of other research analysts have also weighed in on the stock. Credit Suisse Group raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $57.00 in a research note on Friday, May 5th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 price target on shares of Continental Resources in a research note on Friday, May 26th. BMO Capital Markets cut their price target on shares of Continental Resources from $13.00 to $11.50 in a research note on Thursday, March 9th. Scotiabank set a $62.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research note on Monday, March 27th. Finally, FBR & Co cut their price target on shares of Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating on the stock in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company. Continental Resources currently has an average rating of “Buy” and an average price target of $55.32.
Continental Resources (NYSE:CLR) opened at 30.41 on Friday. The firm’s market cap is $11.28 billion. Continental Resources has a 1-year low of $30.18 and a 1-year high of $60.30. The firm has a 50-day moving average of $38.65 and a 200 day moving average of $45.43.
In other news, CEO Harold Hamm bought 36,452 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $42.05 per share, for a total transaction of $1,532,806.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 76.97% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. TrueNorth Inc. purchased a new position in shares of Continental Resources during the first quarter worth $580,000. Achmea Investment Management B.V. purchased a new position in shares of Continental Resources during the first quarter worth $545,000. TPH Asset Management LLC increased its position in shares of Continental Resources by 792.2% in the first quarter. TPH Asset Management LLC now owns 294,947 shares of the oil and natural gas company’s stock worth $13,396,000 after buying an additional 261,887 shares during the last quarter. First Financial Equity Corporation purchased a new position in shares of Continental Resources during the first quarter worth $241,000. Finally, HighTower Advisors LLC increased its position in shares of Continental Resources by 9.4% in the first quarter. HighTower Advisors LLC now owns 9,077 shares of the oil and natural gas company’s stock worth $415,000 after buying an additional 777 shares during the last quarter. Institutional investors and hedge funds own 23.04% of the company’s stock.
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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