Continental Resources, Inc. (CLR) to Post FY2018 Earnings of $0.38 Per Share, SunTrust Banks Forecasts

Continental Resources, Inc. (NYSE:CLR) – Investment analysts at SunTrust Banks decreased their FY2018 earnings per share estimates for shares of Continental Resources in a research report issued on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings per share of $0.38 for the year, down from their previous forecast of $0.67. SunTrust Banks currently has a “Buy” rating and a $55.00 target price on the stock. SunTrust Banks also issued estimates for Continental Resources’ FY2019 earnings at $0.61 EPS and FY2020 earnings at $1.88 EPS.

Several other analysts also recently commented on CLR. Cowen and Company set a $35.00 price objective on shares of Continental Resources and gave the company a “hold” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $46.00 target price on shares of Continental Resources in a research note on Thursday, July 20th. Citigroup Inc. cut their target price on shares of Continental Resources from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, July 21st. BidaskClub cut shares of Continental Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Continental Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.27.

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Shares of Continental Resources (NYSE:CLR) traded down $0.74 during mid-day trading on Monday, hitting $45.09. 1,920,050 shares of the stock traded hands, compared to its average volume of 2,870,929. The company has a market cap of $17,518.50, a P/E ratio of 1,167.25 and a beta of 1.40. Continental Resources has a 12-month low of $29.08 and a 12-month high of $60.30. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.55.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $726.74 million for the quarter, compared to the consensus estimate of $710.77 million. Continental Resources had a negative net margin of 0.95% and a positive return on equity of 0.23%. The company’s revenue was up 38.1% on a year-over-year basis. During the same period last year, the firm earned ($0.22) EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of CLR. BlackRock Inc. raised its stake in shares of Continental Resources by 4,992.6% during the 1st quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after acquiring an additional 4,863,974 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Continental Resources by 10.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 200,174 shares of the oil and natural gas company’s stock worth $9,092,000 after acquiring an additional 19,189 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Continental Resources by 16.7% during the 1st quarter. AQR Capital Management LLC now owns 104,992 shares of the oil and natural gas company’s stock worth $4,769,000 after acquiring an additional 15,040 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Continental Resources by 9.4% during the 1st quarter. HighTower Advisors LLC now owns 9,077 shares of the oil and natural gas company’s stock worth $415,000 after acquiring an additional 777 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Continental Resources by 72.0% during the 2nd quarter. Creative Planning now owns 19,072 shares of the oil and natural gas company’s stock worth $617,000 after acquiring an additional 7,981 shares in the last quarter. Hedge funds and other institutional investors own 23.27% of the company’s stock.

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.

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

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