$0.01 EPS Expected for Continental Resources, Inc. (CLR) This Quarter
Wall Street analysts expect Continental Resources, Inc. (NYSE:CLR) to announce earnings per share (EPS) of $0.01 for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Continental Resources’ earnings. The highest EPS estimate is $0.10 and the lowest is ($0.09). Continental Resources reported earnings per share of ($0.18) during the same quarter last year, which indicates a positive year-over-year growth rate of 105.6%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that Continental Resources will report full-year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from ($0.42) to $0.76. For the next fiscal year, analysts anticipate that the company will post earnings of $0.53 per share, with EPS estimates ranging from ($0.42) to $1.78. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Continental Resources.
Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.02. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%. The company had revenue of $685.43 million for the quarter, compared to analyst estimates of $646.46 million.
A number of equities analysts have commented on the stock. Credit Suisse Group raised shares of Continental Resources from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $57.00 in a research report on Friday, May 5th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price objective on shares of Continental Resources in a research report on Friday, May 26th. Scotiabank set a $62.00 price objective on shares of Continental Resources and gave the stock a “buy” rating in a research report on Monday, March 27th. FBR & Co reduced their target price on shares of Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating for the company in a research report on Monday, May 1st. Finally, Seaport Global Securities cut shares of Continental Resources from a “buy” rating to a “sell” rating and reduced their target price for the company from $57.00 to $20.00 in a research report on Wednesday, June 21st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Continental Resources has a consensus rating of “Buy” and an average price target of $50.54.
Continental Resources (NYSE CLR) opened at 31.53 on Tuesday. Continental Resources has a 52 week low of $29.08 and a 52 week high of $60.30. The stock’s 50 day moving average is $32.53 and its 200 day moving average is $41.84. The firm’s market cap is $11.70 billion.
In other Continental Resources news, CEO Harold Hamm purchased 36,452 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were purchased at an average cost of $42.05 per share, for a total transaction of $1,532,806.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 76.97% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of CLR. Mn Services Vermogensbeheer B.V. boosted its position in shares of Continental Resources by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,430 shares of the oil and natural gas company’s stock worth $103,000 after buying an additional 119 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Continental Resources by 5.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,031 shares of the oil and natural gas company’s stock worth $138,000 after buying an additional 150 shares in the last quarter. Winch Advisory Services LLC purchased a new position in shares of Continental Resources during the first quarter worth about $191,000. Heritage Trust Co purchased a new position in shares of Continental Resources during the first quarter worth about $200,000. Finally, KBC Group NV boosted its position in shares of Continental Resources by 4.7% in the first quarter. KBC Group NV now owns 4,657 shares of the oil and natural gas company’s stock worth $211,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 23.10% of the company’s stock.
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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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