Piper Jaffray Companies Weighs in on Continental Resources, Inc.’s Q2 2019 Earnings (CLR)

Continental Resources, Inc. (NYSE:CLR) – Equities research analysts at Piper Jaffray Companies boosted their Q2 2019 EPS estimates for Continental Resources in a report released on Tuesday, May 14th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and natural gas company will earn $0.72 per share for the quarter, up from their previous forecast of $0.62. Piper Jaffray Companies also issued estimates for Continental Resources’ Q3 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.81 EPS, Q1 2020 earnings at $0.81 EPS, Q2 2020 earnings at $0.76 EPS, Q3 2020 earnings at $0.79 EPS, Q4 2020 earnings at $0.80 EPS and FY2020 earnings at $3.16 EPS.

Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Monday, April 29th. The oil and natural gas company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. Continental Resources had a return on equity of 16.71% and a net margin of 20.06%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis.



Other equities research analysts also recently issued research reports about the company. ValuEngine raised Continental Resources from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Ifs Securities downgraded Continental Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 23rd. KeyCorp raised their target price on Continental Resources from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Zacks Investment Research raised Continental Resources from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, April 17th. Finally, Barclays reissued a “buy” rating and issued a $57.00 target price on shares of Continental Resources in a report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.50.

Shares of NYSE CLR opened at $41.46 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.03 and a quick ratio of 0.96. Continental Resources has a 1-year low of $35.54 and a 1-year high of $71.95. The firm has a market cap of $15.79 billion, a P/E ratio of 14.60, a P/E/G ratio of 0.92 and a beta of 1.45.

In other news, CEO Harold Hamm purchased 191,828 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $42.85 per share, with a total value of $8,219,829.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 1,675,805 shares of company stock valued at $73,335,967 in the last ninety days. Corporate insiders own 77.03% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Continental Resources by 3.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 103,003 shares of the oil and natural gas company’s stock worth $7,033,000 after purchasing an additional 2,970 shares in the last quarter. Morgan Stanley increased its position in Continental Resources by 12.3% during the 3rd quarter. Morgan Stanley now owns 1,695,983 shares of the oil and natural gas company’s stock worth $115,802,000 after purchasing an additional 185,580 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Continental Resources by 0.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 304,172 shares of the oil and natural gas company’s stock worth $12,225,000 after purchasing an additional 1,782 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Continental Resources by 0.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 76,978 shares of the oil and natural gas company’s stock worth $3,094,000 after purchasing an additional 373 shares in the last quarter. Finally, NuWave Investment Management LLC increased its position in Continental Resources by 18.4% during the 4th quarter. NuWave Investment Management LLC now owns 1,663 shares of the oil and natural gas company’s stock worth $67,000 after purchasing an additional 258 shares in the last quarter. 21.24% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Federal Reserve

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

Receive News & Ratings for Continental Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Continental Resources and related companies with MarketBeat.com's FREE daily email newsletter.