Continental Resources, Inc. (NYSE:CLR) – Stock analysts at B. Riley reduced their FY2018 EPS estimates for shares of Continental Resources in a research note issued to investors on Tuesday, November 6th. B. Riley analyst R. Rashid now forecasts that the oil and natural gas company will post earnings of $3.32 per share for the year, down from their previous forecast of $3.35. B. Riley also issued estimates for Continental Resources’ Q4 2018 earnings at $1.01 EPS, Q1 2019 earnings at $0.89 EPS, Q2 2019 earnings at $0.96 EPS, Q3 2019 earnings at $1.06 EPS, Q4 2019 earnings at $1.11 EPS, FY2019 earnings at $4.03 EPS, Q1 2020 earnings at $1.15 EPS, Q2 2020 earnings at $1.21 EPS, Q3 2020 earnings at $1.33 EPS and FY2020 earnings at $5.08 EPS.
Other research analysts also recently issued research reports about the stock. Bank of America increased their price objective on shares of Continental Resources from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Jefferies Financial Group set a $83.00 target price on shares of Continental Resources and gave the company a “buy” rating in a report on Friday, July 13th. KLR Group raised shares of Continental Resources from a “hold” rating to a “buy” rating and upped their target price for the company from $67.00 to $78.00 in a report on Tuesday, July 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $77.00 target price on shares of Continental Resources in a report on Thursday, August 30th. Finally, Royal Bank of Canada set a $81.00 target price on shares of Continental Resources and gave the company a “buy” rating in a report on Thursday, September 20th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $72.03.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Monday, October 29th. The oil and natural gas company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The firm’s revenue for the quarter was up 76.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share.
In related news, SVP Gary E. Gould sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total transaction of $335,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 76.83% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC grew its stake in Continental Resources by 4,924.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock valued at $163,000 after acquiring an additional 2,462 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Continental Resources during the third quarter valued at $205,000. Asset Management Advisors LLC purchased a new position in Continental Resources during the second quarter valued at $201,000. Jaffetilchin Investment Partners LLC purchased a new position in Continental Resources during the third quarter valued at $212,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Continental Resources during the third quarter valued at $221,000. 22.43% of the stock is owned by institutional investors.
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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