$1.14 Billion in Sales Expected for Continental Resources, Inc. (NYSE:CLR) This Quarter

Analysts expect Continental Resources, Inc. (NYSE:CLR) to report sales of $1.14 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Continental Resources’ earnings. The highest sales estimate is $1.17 billion and the lowest is $1.10 billion. Continental Resources posted sales of $1.15 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The business is expected to issue its next quarterly earnings report on Monday, February 17th.

According to Zacks, analysts expect that Continental Resources will report full-year sales of $4.58 billion for the current fiscal year, with estimates ranging from $4.49 billion to $4.66 billion. For the next year, analysts anticipate that the firm will post sales of $4.84 billion, with estimates ranging from $4.36 billion to $5.09 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 announced its earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Continental Resources had a return on equity of 12.49% and a net margin of 17.00%. Continental Resources’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share.

A number of brokerages have recently issued reports on CLR. Morgan Stanley cut their target price on Continental Resources from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, October 14th. TD Securities cut their target price on Continental Resources from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Goldman Sachs Group lowered Continental Resources from a “neutral” rating to a “sell” rating and dropped their price target for the company from $35.00 to $28.00 in a research report on Tuesday, December 17th. They noted that the move was a valuation call. Credit Suisse Group lowered Continental Resources from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Friday, October 4th. Finally, KeyCorp dropped their price target on Continental Resources from $47.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.30.

In other Continental Resources news, CEO Harold Hamm sold 579,496 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $33.88, for a total value of $19,633,324.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eric Spencer Eissenstat sold 12,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $34.16, for a total value of $427,000.00. The disclosure for this sale can be found here. Insiders have sold 1,212,496 shares of company stock worth $40,910,039 over the last three months. 77.03% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. CSat Investment Advisory L.P. acquired a new position in Continental Resources in the 2nd quarter worth about $32,000. Glen Harbor Capital Management LLC acquired a new position in Continental Resources in the 2nd quarter worth about $38,000. Doyle Wealth Management acquired a new position in Continental Resources in the 2nd quarter worth about $44,000. NuWave Investment Management LLC increased its position in Continental Resources by 682.2% in the 3rd quarter. NuWave Investment Management LLC now owns 1,674 shares of the oil and natural gas company’s stock worth $46,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Tyers Asset Management LLC acquired a new position in Continental Resources in the 2nd quarter worth about $52,000. 18.98% of the stock is currently owned by institutional investors.

Shares of Continental Resources stock traded down $0.72 on Friday, reaching $32.66. 2,430,300 shares of the company were exchanged, compared to its average volume of 1,877,025. The stock has a fifty day moving average price of $33.53 and a 200-day moving average price of $32.62. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.85 and a beta of 1.77. The company has a current ratio of 0.89, a quick ratio of 0.81 and a debt-to-equity ratio of 0.81. Continental Resources has a fifty-two week low of $27.26 and a fifty-two week high of $52.03.

Continental Resources Company Profile

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties primarily 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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