Continental Resources, Inc. (CLR) Expected to Post Quarterly Sales of $1.35 Billion

Analysts expect Continental Resources, Inc. (NYSE:CLR) to report sales of $1.35 billion for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Continental Resources’ earnings. The highest sales estimate is $1.42 billion and the lowest is $1.27 billion. Continental Resources posted sales of $1.05 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The business is expected to issue its next quarterly earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Continental Resources will report full-year sales of $4.91 billion for the current fiscal year, with estimates ranging from $4.81 billion to $5.15 billion. For the next year, analysts anticipate that the firm will post sales of $5.88 billion, with estimates ranging from $5.26 billion to $6.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Continental Resources.

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

Several research analysts have recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Continental Resources from $76.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Zacks Investment Research cut shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Piper Jaffray Companies reissued a “buy” rating and set a $69.00 price objective on shares of Continental Resources in a report on Monday, November 19th. TheStreet cut shares of Continental Resources from a “b-” rating to a “c+” rating in a report on Wednesday, November 14th. Finally, Credit Suisse Group reissued a “hold” rating on shares of Continental Resources in a report on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.34.

CLR opened at $44.68 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.92 and a quick ratio of 0.85. Continental Resources has a twelve month low of $43.53 and a twelve month high of $71.95. The company has a market cap of $16.80 billion, a PE ratio of 87.61, a P/E/G ratio of 1.15 and a beta of 1.46.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total transaction of $335,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 76.83% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CLR. Moneta Group Investment Advisors LLC increased its stake in shares of Continental Resources by 4,924.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 2,512 shares of the oil and natural gas company’s stock worth $163,000 after purchasing an additional 2,462 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in shares of Continental Resources in the third quarter worth $171,000. Asset Management Advisors LLC purchased a new stake in shares of Continental Resources in the second quarter worth $201,000. Deprince Race & Zollo Inc. purchased a new stake in shares of Continental Resources in the third quarter worth $205,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in shares of Continental Resources in the third quarter worth $212,000. 22.72% of the stock is owned by institutional investors and hedge funds.

Continental Resources Company Profile

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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