Continental Resources, Inc. (NYSE:CLR) – Research analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of Continental Resources in a note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings per share of $0.32 for the year, up from their prior estimate of $0.22. SunTrust Banks currently has a “Buy” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for Continental Resources’ Q4 2017 earnings at $0.23 EPS, FY2018 earnings at $1.09 EPS, FY2019 earnings at $1.56 EPS and FY2020 earnings at $2.90 EPS.

Several other equities analysts have also recently issued reports on the company. Scotiabank decreased their price objective on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, November 10th. Macquarie raised Continental Resources from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $53.57 to $55.00 in a report on Thursday, December 14th. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, November 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $41.00 price objective on shares of Continental Resources in a report on Friday, October 6th. Finally, Credit Suisse Group began coverage on Continental Resources in a research note on Monday, December 11th. They issued an “outperform” rating and a $57.00 price target for the company. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Buy” and a consensus target price of $47.65.

Continental Resources (NYSE:CLR) opened at $55.11 on Friday. The stock has a market capitalization of $20,680.00, a PE ratio of -787.29 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. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $55.36.

Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The business had revenue of $726.74 million during the quarter, compared to analysts’ expectations of $710.77 million. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The company’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS.

In other news, CFO John D. Hart sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark E. Monroe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $47.90, for a total value of $958,000.00. The disclosure for this sale can be found here. Insiders sold 52,874 shares of company stock valued at $2,603,673 over the last 90 days. Company insiders own 76.87% of the company’s stock.

Several hedge funds have recently bought and sold shares of CLR. FMR LLC lifted its holdings in Continental Resources by 16.5% in the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock valued at $427,027,000 after acquiring an additional 1,875,103 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Continental Resources by 26.4% in the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock valued at $263,485,000 after acquiring an additional 1,703,303 shares during the last quarter. State Street Corp lifted its holdings in Continental Resources by 14.4% in the second quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock valued at $103,474,000 after acquiring an additional 403,667 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Continental Resources by 474.8% in the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock valued at $93,518,000 after acquiring an additional 2,389,400 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its holdings in Continental Resources by 208.2% in the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock valued at $77,106,000 after acquiring an additional 1,611,003 shares during the last quarter. Institutional investors and hedge funds own 22.54% of the company’s stock.

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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.

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

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