FY2017 EPS Estimates for Continental Resources, Inc. (CLR) Reduced by Analyst

Continental Resources, Inc. (NYSE:CLR) – Research analysts at Jefferies Group cut their FY2017 earnings estimates for Continental Resources in a research report issued to clients and investors on Monday. Jefferies Group analyst M. Hsu now anticipates that the oil and natural gas company will post earnings of $0.25 per share for the year, down from their prior estimate of $0.27. Jefferies Group currently has a “Buy” rating and a $47.00 price target on the stock. Jefferies Group also issued estimates for Continental Resources’ Q4 2017 earnings at $0.15 EPS, Q3 2018 earnings at $0.35 EPS, Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.46 EPS and FY2019 earnings at $1.78 EPS.

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

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A number of other research analysts have also weighed in on CLR. BidaskClub upgraded Continental Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Continental Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Barclays PLC lifted their price objective on Continental Resources from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada lifted their price objective on Continental Resources from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, Citigroup Inc. dropped their price objective on Continental Resources from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Continental Resources has a consensus rating of “Buy” and an average price target of $46.35.

Continental Resources (NYSE CLR) traded up $0.68 during trading hours on Wednesday, hitting $45.52. The stock had a trading volume of 2,618,700 shares, compared to its average volume of 2,880,166. The company has a market cap of $17,060.00, a PE ratio of 1,121.00 and a beta of 1.40. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.85. Continental Resources has a fifty-two week low of $29.08 and a fifty-two week high of $60.30.

Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its position in shares of Continental Resources by 10.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 200,174 shares of the oil and natural gas company’s stock worth $9,092,000 after buying an additional 19,189 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Continental Resources by 16.7% in the first quarter. AQR Capital Management LLC now owns 104,992 shares of the oil and natural gas company’s stock worth $4,769,000 after acquiring an additional 15,040 shares in the last quarter. Creative Planning boosted its holdings in Continental Resources by 72.0% in the second quarter. Creative Planning now owns 19,072 shares of the oil and natural gas company’s stock worth $617,000 after acquiring an additional 7,981 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Continental Resources by 522.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 15,132 shares of the oil and natural gas company’s stock worth $489,000 after acquiring an additional 12,702 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Continental Resources by 4.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,274,575 shares of the oil and natural gas company’s stock worth $41,207,000 after acquiring an additional 53,775 shares in the last quarter. Institutional investors and hedge funds own 23.27% of the company’s stock.

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.

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

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