Zacks: Analysts Expect Continental Resources, Inc. (CLR) Will Post Quarterly Sales of $894.80 Million
Brokerages expect that Continental Resources, Inc. (NYSE:CLR) will post $894.80 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Continental Resources’ earnings, with estimates ranging from $753.40 million to $1.07 billion. Continental Resources reported sales of $549.69 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 62.8%. The company is expected to announce its next earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Continental Resources will report full-year sales of $894.80 million for the current financial year, with estimates ranging from $2.82 billion to $3.08 billion. For the next year, analysts forecast that the company will post sales of $3.80 billion per share, with estimates ranging from $2.41 billion to $4.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Continental Resources.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The company had revenue of $726.74 million during the quarter, compared to analysts’ expectations of $710.77 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in CLR. Wesbanco Bank Inc. lifted its holdings in shares of Continental Resources by 14.1% during the second quarter. Wesbanco Bank Inc. now owns 132,764 shares of the oil and natural gas company’s stock valued at $4,293,000 after purchasing an additional 16,375 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Continental Resources by 12.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 8,269 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 902 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Continental Resources by 22.5% during the third quarter. Miller Howard Investments Inc. NY now owns 22,097 shares of the oil and natural gas company’s stock valued at $853,000 after purchasing an additional 4,060 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Continental Resources during the third quarter valued at $7,896,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Continental Resources by 362.8% during the second quarter. BNP Paribas Arbitrage SA now owns 171,270 shares of the oil and natural gas company’s stock valued at $5,537,000 after purchasing an additional 134,260 shares during the last quarter. Institutional investors and hedge funds own 22.59% of the company’s stock.
Continental Resources (CLR) opened at $47.81 on Tuesday. Continental Resources has a 52 week low of $29.08 and a 52 week high of $58.50. The stock has a market capitalization of $17,940.00, a price-to-earnings ratio of 1,211.75 and a beta of 1.44. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55.
COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Expect Continental Resources, Inc. (CLR) Will Post Quarterly Sales of $894.80 Million” was originally published by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/12/05/zacks-analysts-expect-continental-resources-inc-clr-will-post-quarterly-sales-of-894-80-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Continental Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.