Analysts Expect Continental Resources, Inc. (CLR) Will Announce Earnings of $0.81 Per Share

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Analysts expect that Continental Resources, Inc. (NYSE:CLR) will post $0.81 earnings per share (EPS) for the current quarter, Zacks reports. Ten analysts have provided estimates for Continental Resources’ earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.60. Continental Resources posted earnings of $0.09 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 800%. The business is expected to issue its next quarterly earnings results on Tuesday, November 6th.

On average, analysts expect that Continental Resources will report full-year earnings of $3.14 per share for the current fiscal year, with EPS estimates ranging from $2.76 to $3.52. For the next fiscal year, analysts forecast that the business will report earnings of $3.78 per share, with EPS estimates ranging from $2.78 to $4.90. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Continental Resources.

Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Continental Resources had a return on equity of 14.01% and a net margin of 32.80%.

A number of brokerages have weighed in on CLR. Morgan Stanley upped their target price on Continental Resources from $83.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 24th. Piper Jaffray Companies restated a “buy” rating and issued a $77.00 target price on shares of Continental Resources in a research note on Thursday, August 30th. Zacks Investment Research upgraded Continental Resources from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Friday, June 8th. B. Riley upped their target price on Continental Resources from $70.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, June 11th. Finally, Barclays began coverage on Continental Resources in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $77.00 target price on the stock. Twelve equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.72.

Institutional investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. purchased a new position in shares of Continental Resources in the second quarter valued at about $2,607,000. Northern Trust Corp lifted its position in shares of Continental Resources by 2.0% in the second quarter. Northern Trust Corp now owns 781,598 shares of the oil and natural gas company’s stock valued at $50,617,000 after acquiring an additional 15,329 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Continental Resources by 13.2% in the second quarter. Public Employees Retirement System of Ohio now owns 45,265 shares of the oil and natural gas company’s stock worth $2,931,000 after purchasing an additional 5,285 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of Continental Resources by 54.7% in the second quarter. WINTON GROUP Ltd now owns 11,678 shares of the oil and natural gas company’s stock worth $756,000 after purchasing an additional 4,131 shares during the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Continental Resources in the second quarter worth about $2,461,000. Hedge funds and other institutional investors own 22.53% of the company’s stock.

CLR traded up $0.18 during trading on Friday, reaching $61.93. 26,420 shares of the company were exchanged, compared to its average volume of 1,435,836. The stock has a market capitalization of $23.62 billion, a price-to-earnings ratio of 121.43, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97. Continental Resources has a 12-month low of $36.05 and a 12-month high of $69.91.

About Continental Resources

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties in the north, south, and east regions of the United States. The company sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies.

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