Continental Resources, Inc. (NYSE:CLR) – Investment analysts at Seaport Global Securities lowered their Q2 2019 earnings per share estimates for shares of Continental Resources in a research report issued to clients and investors on Thursday, April 4th. Seaport Global Securities analyst J. Aschenbeck now forecasts that the oil and natural gas company will post earnings per share of $0.42 for the quarter, down from their prior forecast of $0.44. Seaport Global Securities also issued estimates for Continental Resources’ Q2 2020 earnings at $0.48 EPS.
Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group restated a “buy” rating and set a $64.00 price objective on shares of Continental Resources in a research report on Wednesday, January 30th. Morgan Stanley set a $60.00 target price on shares of Continental Resources and gave the company a “buy” rating in a report on Tuesday, January 29th. Mizuho initiated coverage on shares of Continental Resources in a research note on Tuesday, January 29th. They issued a “buy” rating and a $59.00 price target for the company. Raymond James set a $80.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Finally, Barclays set a $62.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a report on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirty-one have issued a buy rating to the company. Continental Resources currently has a consensus rating of “Buy” and a consensus price target of $65.04.
Shares of CLR stock opened at $47.22 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.95 and a current ratio of 1.02. Continental Resources has a twelve month low of $35.54 and a twelve month high of $71.95. The stock has a market cap of $17.76 billion, a PE ratio of 16.63, a PEG ratio of 1.36 and a beta of 1.46.
Continental Resources (NYSE:CLR) last issued its earnings results on Monday, February 18th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). Continental Resources had a return on equity of 18.28% and a net margin of 20.99%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year.
In other news, CEO Harold Hamm purchased 191,828 shares of the stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $42.85 per share, for a total transaction of $8,219,829.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 1,675,805 shares of company stock worth $73,335,967 over the last 90 days. 76.83% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Continental Resources during the 4th quarter worth approximately $52,621,000. American Century Companies Inc. grew its stake in shares of Continental Resources by 142.6% in the fourth quarter. American Century Companies Inc. now owns 823,493 shares of the oil and natural gas company’s stock worth $33,096,000 after acquiring an additional 484,089 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Continental Resources by 125.7% in the third quarter. Point72 Asset Management L.P. now owns 676,991 shares of the oil and natural gas company’s stock worth $46,225,000 after acquiring an additional 376,991 shares in the last quarter. BlackRock Inc. increased its position in shares of 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 acquiring an additional 266,183 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Continental Resources by 26.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,220,703 shares of the oil and natural gas company’s stock worth $49,059,000 after acquiring an additional 257,350 shares during the period. 21.54% of the stock is owned by institutional investors.
About Continental Resources
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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