Brokerages expect that Continental Resources, Inc. (NYSE:CLR) will announce earnings per share (EPS) of $0.04 for the current quarter, according to Zacks. Eleven analysts have made estimates for Continental Resources’ earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at $0.15. Continental Resources posted earnings of ($0.22) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 118.2%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Continental Resources will report full year earnings of $0.20 per share for the current financial year, with EPS estimates ranging from ($0.08) to $0.43. For the next year, analysts expect that the company will report earnings of $0.65 per share, with EPS estimates ranging from ($0.54) to $1.91. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Continental Resources.
CLR has been the topic of a number of recent research reports. Scotiabank reissued a “buy” rating and issued a $52.00 target price on shares of Continental Resources in a report on Friday, June 30th. BidaskClub upgraded Continental Resources from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Barclays PLC reiterated a “buy” rating and set a $34.00 target price on shares of Continental Resources in a research report on Friday, July 7th. Zacks Investment Research downgraded Continental Resources from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BMO Capital Markets decreased their target price on Continental Resources from $45.00 to $36.00 and set an “outperform” rating on the stock in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $46.50.
A number of large investors have recently added to or reduced their stakes in CLR. Ameriprise Financial Inc. lifted its holdings in Continental Resources by 1.4% during the 1st quarter. Ameriprise Financial Inc. now owns 39,294 shares of the oil and natural gas company’s stock worth $1,785,000 after buying an additional 533 shares during the last quarter. Stifel Financial Corp lifted its holdings in Continental Resources by 5.9% during the 1st quarter. Stifel Financial Corp now owns 6,239 shares of the oil and natural gas company’s stock worth $284,000 after buying an additional 350 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Continental Resources during the 1st quarter worth approximately $1,115,000. Marshall Wace North America L.P. bought a new position in Continental Resources during the 1st quarter worth approximately $1,115,000. Finally, Vanguard Group Inc. lifted its holdings in Continental Resources by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 6,446,564 shares of the oil and natural gas company’s stock worth $292,802,000 after buying an additional 188,171 shares during the last quarter. 23.33% of the stock is currently owned by institutional investors.
Continental Resources (CLR) traded up 2.96% during trading on Wednesday, hitting $39.37. 2,884,472 shares of the stock traded hands. Continental Resources has a 12 month low of $29.08 and a 12 month high of $60.30. The company has a 50-day moving average price of $37.10 and a 200-day moving average price of $36.51. The stock’s market cap is $14.61 billion.
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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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