Continental Resources, Inc. (NYSE:CLR) – Equities researchers at Jefferies Group reduced their Q2 2017 earnings per share estimates for shares of Continental Resources in a research note issued on Wednesday. Jefferies Group analyst M. Hsu now expects that the oil and natural gas company will earn $0.02 per share for the quarter, down from their prior forecast of $0.06. Jefferies Group has a “Buy” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for Continental Resources’ Q3 2017 earnings at $0.23 EPS, FY2017 earnings at $0.57 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.57 EPS and FY2018 earnings at $1.78 EPS.

Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 EPS 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 analysts’ expectations of $646.46 million. Continental Resources had a negative return on equity of 3.93% and a negative net margin of 9.08%.

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A number of other research firms have also weighed in on CLR. Stifel Nicolaus restated a “buy” rating and issued a $61.00 target price on shares of Continental Resources in a report on Wednesday, April 12th. Royal Bank Of Canada restated a “buy” rating and issued a $63.00 target price on shares of Continental Resources in a report on Tuesday, April 25th. Barclays PLC restated a “buy” rating and issued a $53.00 target price (down previously from $58.00) on shares of Continental Resources in a report on Thursday, April 20th. UBS AG began coverage on Continental Resources in a report on Thursday, March 23rd. They issued a “neutral” rating and a $49.00 target price on the stock. Finally, Scotiabank set a $62.00 target price on Continental Resources and gave the company a “buy” rating in a report on Monday, March 27th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Continental Resources has a consensus rating of “Buy” and a consensus price target of $52.17.

Shares of Continental Resources (NYSE CLR) opened at 33.61 on Thursday. Continental Resources has a 1-year low of $29.08 and a 1-year high of $60.30. The company’s market cap is $12.47 billion. The firm has a 50-day moving average price of $32.99 and a 200 day moving average price of $42.30.

In other news, CEO Harold Hamm purchased 36,452 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was purchased at an average price of $42.05 per share, with a total value of $1,532,806.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 76.97% of the company’s stock.

A number of large investors have recently modified their holdings of CLR. US Bancorp DE raised its stake in shares of Continental Resources by 65.2% in the first quarter. US Bancorp DE now owns 52,162 shares of the oil and natural gas company’s stock valued at $2,370,000 after buying an additional 20,588 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 valued at $158,879,000 after buying an additional 1,623,470 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Continental Resources by 10.6% in the first quarter. UBS Asset Management Americas Inc. now owns 231,214 shares of the oil and natural gas company’s stock valued at $10,502,000 after buying an additional 22,201 shares during the period. Capital Impact Advisors LLC raised its stake in shares of Continental Resources by 45.2% in the first quarter. Capital Impact Advisors LLC now owns 21,539 shares of the oil and natural gas company’s stock valued at $978,000 after buying an additional 6,705 shares during the period. Finally, Impala Asset Management LLC raised its stake in shares of Continental Resources by 68.3% in the first quarter. Impala Asset Management LLC now owns 312,366 shares of the oil and natural gas company’s stock valued at $14,188,000 after buying an additional 126,724 shares during the period. 23.03% of the stock is owned by hedge funds and other institutional investors.

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.

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

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