$864.61 Million in Sales Expected for Continental Resources, Inc. (CLR) This Quarter
Analysts expect Continental Resources, Inc. (NYSE:CLR) to post sales of $864.61 million for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Continental Resources’ earnings, with estimates ranging from $753.40 million to $1.07 billion. Continental Resources reported sales of $549.69 million in the same quarter last year, which indicates a positive year-over-year growth rate of 57.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Continental Resources will report full-year sales of $864.61 million for the current year, with estimates ranging from $2.78 billion to $3.08 billion. For the next year, analysts expect that the business will post sales of $3.74 billion per share, with estimates ranging from $2.41 billion to $4.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Continental Resources.
Continental Resources (NYSE:CLR) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The company had revenue of $726.74 million during the quarter, compared to the consensus estimate of $710.77 million. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. Continental Resources’s revenue for the quarter was up 38.1% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 target price on shares of Continental Resources in a research note on Friday, November 10th. BMO Capital Markets reiterated a “buy” rating on shares of Continental Resources in a research note on Sunday, November 12th. Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research note on Monday. Scotiabank decreased their target price on shares of Continental Resources from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, November 10th. Finally, Royal Bank Of Canada increased their price target on shares of Continental Resources from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.35.
Shares of Continental Resources (NYSE CLR) opened at $45.52 on Friday. Continental Resources has a 12 month low of $29.08 and a 12 month high of $60.30. The firm has a market cap of $16,824.37, a PE ratio of 1,121.00 and a beta of 1.40. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.
A number of hedge funds and other institutional investors have recently made changes to their positions in CLR. Renaissance Technologies LLC boosted its position in Continental Resources by 474.8% during the second quarter. Renaissance Technologies LLC now owns 2,892,600 shares of the oil and natural gas company’s stock worth $93,518,000 after acquiring an additional 2,389,400 shares during the last quarter. FMR LLC boosted its position in Continental Resources by 16.5% during the second quarter. FMR LLC now owns 13,208,383 shares of the oil and natural gas company’s stock worth $427,027,000 after acquiring an additional 1,875,103 shares during the last quarter. Vanguard Group Inc. boosted its position in Continental Resources by 26.4% during the second quarter. Vanguard Group Inc. now owns 8,149,867 shares of the oil and natural gas company’s stock worth $263,485,000 after acquiring an additional 1,703,303 shares during the last quarter. Balyasny Asset Management LLC boosted its position in Continental Resources by 208.2% during the second quarter. Balyasny Asset Management LLC now owns 2,384,953 shares of the oil and natural gas company’s stock worth $77,106,000 after acquiring an additional 1,611,003 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Continental Resources during the third quarter worth approximately $52,973,000. Hedge funds and other institutional investors 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.
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