Continental Resources, Inc. (NYSE:CLR) – Research analysts at KeyCorp lowered their Q4 2019 earnings per share estimates for Continental Resources in a note issued to investors on Sunday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will post earnings per share of $0.43 for the quarter, down from their prior estimate of $0.44. KeyCorp currently has a “Hold” rating on the stock.
CLR has been the subject of a number of other research reports. TheStreet upgraded Continental Resources from a “d+” rating to a “c” rating in a report on Friday, November 17th. Royal Bank of Canada increased their price target on Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Barclays increased their price target on Continental Resources from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, November 8th. Finally, Morgan Stanley increased their price target on Continental Resources from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Ten investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Continental Resources presently has an average rating of “Buy” and a consensus price target of $50.98.
Continental Resources (NYSE:CLR) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $726.74 million during the quarter, compared to the consensus estimate of $710.77 million. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The firm’s revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) earnings per share.
In related news, Director Mark E. Monroe sold 20,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total transaction of $958,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $50.85, for a total value of $502,092.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY grew 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 worth $853,000 after buying an additional 4,060 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Continental Resources during the third quarter worth about $1,313,000. Ninepoint Partners LP bought a new position in shares of Continental Resources during the third quarter worth about $7,896,000. Wells Fargo & Company MN grew its holdings in shares of Continental Resources by 40.5% during the third quarter. Wells Fargo & Company MN now owns 568,536 shares of the oil and natural gas company’s stock worth $21,951,000 after buying an additional 163,935 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Continental Resources during the third quarter worth about $266,000. Institutional investors and hedge funds own 22.56% 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.
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