Zacks: Analysts Expect Continental Resources, Inc. (CLR) to Announce $0.28 Earnings Per Share

Analysts expect Continental Resources, Inc. (NYSE:CLR) to report $0.28 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Continental Resources’ earnings. The highest EPS estimate is $0.40 and the lowest is $0.07. Continental Resources posted earnings per share of ($0.07) during the same quarter last year, which indicates a positive year-over-year growth rate of 500%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 21st.

On average, analysts expect that Continental Resources will report full year earnings of $0.38 per share for the current financial year, with EPS estimates ranging from $0.26 to $0.51. For the next financial year, analysts expect that the business will post earnings of $1.71 per share, with EPS estimates ranging from $0.50 to $2.36. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow Continental Resources.

CLR has been the subject of several recent research reports. Morgan Stanley boosted their price target on Continental Resources from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Royal Bank of Canada restated a “buy” rating and issued a $52.00 price target on shares of Continental Resources in a research note on Wednesday, December 20th. Scotiabank reduced their price target on Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, November 10th. ValuEngine upgraded Continental Resources from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, TheStreet upgraded Continental Resources from a “d+” rating to a “c” rating in a research note on Friday, November 17th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.56.

In related news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $49.52, for a total transaction of $247,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John D. Hart sold 6,000 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $51.23, for a total value of $307,380.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,874 shares of company stock valued at $2,603,673. 76.87% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CLR. Vanguard Group Inc. lifted its position in shares of Continental Resources by 26.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after buying an additional 1,703,303 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Continental Resources during the 3rd quarter worth $52,973,000. JPMorgan Chase & Co. lifted its position in shares of Continental Resources by 101.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,740 shares of the oil and natural gas company’s stock worth $57,798,000 after buying an additional 748,025 shares during the last quarter. State Street Corp lifted its position in shares of Continental Resources by 14.4% during the 2nd quarter. State Street Corp now owns 3,200,659 shares of the oil and natural gas company’s stock worth $103,474,000 after buying an additional 403,667 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Continental Resources by 55.5% in the 4th quarter. Bank of New York Mellon Corp now owns 986,457 shares of the oil and natural gas company’s stock worth $52,253,000 after purchasing an additional 351,930 shares in the last quarter. Institutional investors and hedge funds own 22.54% of the company’s stock.

Continental Resources (NYSE CLR) opened at $49.06 on Friday. The firm has a market capitalization of $18,410.00, a P/E ratio of -700.86 and a beta of 1.36. Continental Resources has a 1-year low of $29.08 and a 1-year high of $58.89. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.85 and a current ratio of 0.94.

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

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