Continental Resources, Inc. to Post Q2 2017 Earnings of $0.02 Per Share, Jefferies Group Forecasts (CLR)

Continental Resources, Inc. (NYSE:CLR) – Research analysts at Jefferies Group lowered their Q2 2017 earnings estimates for shares of Continental Resources in a report released on Wednesday. Jefferies Group analyst M. Hsu now forecasts that the oil and natural gas company will post earnings per share of $0.02 for the quarter, down from their prior estimate of $0.06. Jefferies Group currently has a “Buy” rating and a $56.00 target price on the stock. Jefferies Group also issued estimates for Continental Resources’ Q3 2017 earnings at $0.23 EPS, FY2017 earnings at $0.57 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.57 EPS and FY2018 earnings at $1.78 EPS.

Continental Resources (NYSE:CLR) last released its earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $685.43 million for the quarter, compared to the consensus estimate of $646.46 million. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%.

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A number of other brokerages also recently weighed in on CLR. Stifel Nicolaus reiterated a “buy” rating and issued a $61.00 price target on shares of Continental Resources in a research report on Wednesday, April 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $63.00 price target on shares of Continental Resources in a research report on Tuesday, April 25th. Barclays PLC reiterated a “buy” rating and issued a $53.00 price target (down from $58.00) on shares of Continental Resources in a research report on Thursday, April 20th. Scotiabank set a $62.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research report on Monday, March 27th. Finally, FBR & Co cut their price target on shares of Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating on the stock in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.54.

Continental Resources (NYSE:CLR) opened at 31.41 on Thursday. Continental Resources has a 52-week low of $29.08 and a 52-week high of $60.30. The stock’s market capitalization is $11.66 billion. The stock has a 50 day moving average of $32.84 and a 200 day moving average of $42.23.

In other news, CEO Harold Hamm bought 36,452 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was acquired at an average cost of $42.05 per share, with a total value of $1,532,806.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 76.97% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CLR. Comerica Bank boosted its position in Continental Resources by 26.5% in the fourth quarter. Comerica Bank now owns 15,831 shares of the oil and natural gas company’s stock valued at $814,000 after buying an additional 3,318 shares in the last quarter. Guggenheim Capital LLC boosted its position in Continental Resources by 10.4% in the fourth quarter. Guggenheim Capital LLC now owns 65,430 shares of the oil and natural gas company’s stock valued at $3,373,000 after buying an additional 6,173 shares in the last quarter. AQR Capital Management LLC boosted its position in Continental Resources by 70.5% in the fourth quarter. AQR Capital Management LLC now owns 89,952 shares of the oil and natural gas company’s stock valued at $4,636,000 after buying an additional 37,181 shares in the last quarter. Norges Bank purchased a new position in Continental Resources during the fourth quarter valued at $36,323,000. Finally, Quadrature Capital Ltd purchased a new position in Continental Resources during the fourth quarter valued at $1,701,000. 23.03% of the stock is owned by institutional investors and hedge funds.

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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