Continental Resources, Inc. (NYSE:CLR) – Jefferies Group decreased their Q2 2017 earnings per share (EPS) estimates for shares of Continental Resources in a research note issued to investors on Wednesday. Jefferies Group analyst M. Hsu now forecasts that the oil and natural gas company will earn $0.06 per share for the quarter, down from their prior forecast of $0.08. Jefferies Group currently has a “Buy” rating and a $56.00 price target on the stock. Jefferies Group also issued estimates for Continental Resources’ Q4 2017 earnings at $0.29 EPS, FY2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.61 EPS and FY2018 earnings at $1.80 EPS.
Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity set a $61.00 price target on Continental Resources and gave the stock a “buy” rating in a report on Saturday, February 11th. Stifel Nicolaus restated a “buy” rating and issued a $61.00 price target on shares of Continental Resources in a report on Wednesday, April 12th. Royal Bank of Canada restated a “buy” rating and issued a $63.00 price target on shares of Continental Resources in a report on Tuesday, April 25th. Bank of America Corp restated a “buy” rating and issued a $68.00 price target (down previously from $74.00) on shares of Continental Resources in a report on Thursday, May 11th. Finally, FBR & Co lowered their price target on Continental Resources from $56.00 to $46.00 and set a “mkt perform” rating on the stock in a report on Monday, May 1st. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.71.
Shares of Continental Resources (NYSE:CLR) opened at 42.63 on Friday. The firm has a 50-day moving average price of $43.49 and a 200-day moving average price of $47.52. The stock’s market capitalization is $15.82 billion. Continental Resources has a 1-year low of $39.30 and a 1-year high of $60.30.
Continental Resources (NYSE:CLR) last released its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. Continental Resources had a negative return on equity of 8.69% and a negative net margin of 28.27%. The company had revenue of $685.43 million during the quarter, compared to analysts’ expectations of $646.46 million.
In other Continental Resources news, CEO Harold Hamm acquired 41,998 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were acquired at an average price of $42.37 per share, for a total transaction of $1,779,455.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John D. Hart sold 6,000 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $45.50, for a total value of $273,000.00. The disclosure for this sale can be found here. 76.97% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Castleark Management LLC raised its position in shares of Continental Resources by 3.2% in the fourth quarter. Castleark Management LLC now owns 575,168 shares of the oil and natural gas company’s stock valued at $29,644,000 after buying an additional 17,628 shares during the period. L & S Advisors Inc purchased a new position in shares of Continental Resources during the fourth quarter valued at $3,071,000. Penn Capital Management Co. Inc. raised its position in shares of Continental Resources by 192.2% in the third quarter. Penn Capital Management Co. Inc. now owns 23,658 shares of the oil and natural gas company’s stock valued at $1,233,000 after buying an additional 15,561 shares during the period. Van ECK Associates Corp raised its position in shares of Continental Resources by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 19,560 shares of the oil and natural gas company’s stock valued at $1,008,000 after buying an additional 2,221 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Continental Resources during the fourth quarter valued at $60,121,000. 23.17% of the stock is currently 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.
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