Continental Resources, Inc. (CLR) Expected to Announce Earnings of $0.26 Per Share

Equities analysts expect Continental Resources, Inc. (NYSE:CLR) to report earnings per share (EPS) of $0.26 for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Continental Resources’ earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.42. Continental Resources reported earnings per share of ($0.07) in the same quarter last year, which would indicate a positive year-over-year growth rate of 471.4%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Continental Resources will report full year earnings of $0.35 per share for the current financial year, with EPS estimates ranging from $0.18 to $0.52. For the next fiscal year, analysts forecast that the company will post earnings of $1.38 per share, with EPS estimates ranging from $0.45 to $2.31. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Continental Resources.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $726.74 million for 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 company’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share.

CLR has been the topic of a number of research analyst reports. Barclays upped their price target on Continental Resources from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Morgan Stanley upped their price target on Continental Resources from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Royal Bank of Canada reiterated a “buy” rating and set a $52.00 price objective on shares of Continental Resources in a research report on Wednesday, December 20th. Stifel Nicolaus set a $68.00 price objective on Continental Resources and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Scotiabank reduced their price objective on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday, November 10th. Ten equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.98.

In other Continental Resources news, CFO John D. Hart sold 6,000 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Gary E. Gould sold 9,874 shares of the company’s 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. In the last 90 days, insiders sold 52,874 shares of company stock valued at $2,603,673. Company insiders own 76.87% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CLR. Toronto Dominion Bank grew its position in shares of Continental Resources by 244.1% during the third quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock worth $153,000 after purchasing an additional 2,810 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Continental Resources by 35.0% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after purchasing an additional 1,261 shares in the last quarter. Sii Investments Inc. WI purchased a new stake in shares of Continental Resources during the third quarter worth about $200,000. Sei Investments Co. grew its position in shares of Continental Resources by 131.7% during the third quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 3,009 shares in the last quarter. Finally, Bridgecreek Investment Management LLC purchased a new stake in shares of Continental Resources during the third quarter worth about $214,000. Institutional investors and hedge funds own 22.56% of the company’s stock.

Continental Resources (NYSE:CLR) opened at $57.04 on Wednesday. The stock has a market capitalization of $21,206.81, a price-to-earnings ratio of -814.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. Continental Resources has a 1-year low of $29.08 and a 1-year high of $58.89.

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

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