$1.37 Billion in Sales Expected for Continental Resources, Inc. (CLR) This Quarter

Equities research analysts expect Continental Resources, Inc. (NYSE:CLR) to post $1.37 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Continental Resources’ earnings, with the highest sales estimate coming in at $1.43 billion and the lowest estimate coming in at $1.29 billion. Continental Resources reported sales of $1.05 billion during the same quarter last year, which indicates a positive year over year growth rate of 30.5%. The company is scheduled to report its next earnings results on Wednesday, February 20th.

On average, analysts expect that Continental Resources will report full-year sales of $4.91 billion for the current year, with estimates ranging from $4.81 billion to $4.99 billion. For the next financial year, analysts forecast that the business will report sales of $6.03 billion, with estimates ranging from $5.35 billion to $6.64 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Continental Resources.

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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.48%. The business’s revenue for the quarter was up 76.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share.

CLR has been the topic of a number of research reports. Royal Bank of Canada set a $81.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research note on Thursday, September 20th. BMO Capital Markets lowered shares of Continental Resources from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 9th. They noted that the move was a valuation call. KLR Group reaffirmed a “buy” rating and issued a $78.00 price target on shares of Continental Resources in a research note on Monday, August 20th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Continental Resources in a research note on Wednesday, July 25th. Finally, Jefferies Financial Group set a $83.00 price target on shares of Continental Resources and gave the company a “buy” rating in a research note on Friday, July 13th. Eleven investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Continental Resources presently has a consensus rating of “Buy” and an average target price of $72.45.

NYSE CLR traded up $0.69 during trading on Friday, reaching $50.73. 2,402,894 shares of the stock traded hands, compared to its average volume of 2,497,204. The stock has a market cap of $19.65 billion, a P/E ratio of 99.47, a P/E/G ratio of 1.34 and a beta of 1.46. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.85 and a current ratio of 0.92. Continental Resources has a fifty-two week low of $42.83 and a fifty-two week high of $71.95.

In other news, SVP Gary E. Gould sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 76.83% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Continental Resources by 16.9% in the second quarter. FMR LLC now owns 14,985,708 shares of the oil and natural gas company’s stock worth $970,474,000 after purchasing an additional 2,170,030 shares in the last quarter. BlackRock Inc. increased its holdings in Continental Resources by 5.5% during the third quarter. BlackRock Inc. now owns 5,095,210 shares of the oil and natural gas company’s stock worth $347,901,000 after buying an additional 266,183 shares during the last quarter. Millennium Management LLC increased its holdings in Continental Resources by 269.1% during the second quarter. Millennium Management LLC now owns 1,415,575 shares of the oil and natural gas company’s stock worth $91,673,000 after buying an additional 1,032,069 shares during the last quarter. Bank of America Corp DE increased its holdings in Continental Resources by 20.3% during the second quarter. Bank of America Corp DE now owns 1,345,658 shares of the oil and natural gas company’s stock worth $87,146,000 after buying an additional 226,626 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Continental Resources by 31.0% during the third quarter. Prudential Financial Inc. now owns 1,225,496 shares of the oil and natural gas company’s stock worth $83,677,000 after buying an additional 290,300 shares during the last quarter. 22.43% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Continental Resources (NYSE:CLR)

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