Continental Resources Inc. (NYSE:CLR) – Analysts at Seaport Global Securities upped their Q1 2017 earnings estimates for Continental Resources in a report released on Tuesday. Seaport Global Securities analyst M. Kelly now anticipates that the firm will post earnings of ($0.01) per share for the quarter, up from their previous forecast of ($0.02). Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Continental Resources’ Q2 2017 earnings at ($0.01) EPS and FY2017 earnings at ($0.01) EPS.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by $0.04. The company earned $453.17 million during the quarter, compared to analyst estimates of $444.84 million. During the same period in the prior year, the business posted ($0.09) EPS. The company’s revenue for the quarter was down 27.6% compared to the same quarter last year.
Several other equities research analysts have also issued reports on CLR. Stifel Nicolaus restated a “buy” rating and issued a $38.00 target price (up previously from $32.00) on shares of Continental Resources in a report on Thursday, March 31st. Deutsche Bank AG upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and raised their target price for the stock from $34.00 to $40.00 in a report on Wednesday, April 13th. Vetr raised shares of Continental Resources from a “strong sell” rating to a “buy” rating and set a $37.50 price target on the stock in a research note on Wednesday, April 13th. Capital One Financial Corp. downgraded shares of Continental Resources from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 27th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. raised shares of Continental Resources from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $42.00 to $50.00 in a research note on Thursday, May 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $39.36.
A hedge fund recently raised its stake in Continental Resources stock. First Trust Advisors LP raised its stake in Continental Resources Inc. (NYSE:CLR) by 91.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 76,870 shares of the company’s stock after buying an additional 36,761 shares during the period. First Trust Advisors LP’s holdings in Continental Resources were worth $1,766,000 as of its most recent SEC filing.
In other Continental Resources news, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $45.35, for a total value of $453,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Steven K. Owen sold 14,000 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $40.13, for a total transaction of $561,820.00. Following the sale, the senior vice president now directly owns 96,791 shares in the company, valued at approximately $3,884,222.83. The disclosure for this sale can be found here.
Continental Resources, Inc is an independent crude oil and natural gas exploration and production 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.
