Analysts Anticipate Continental Resources, Inc. (NYSE:CLR) to Announce $1.13 EPS

Analysts expect Continental Resources, Inc. (NYSE:CLR) to announce earnings per share (EPS) of $1.13 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Continental Resources’ earnings, with estimates ranging from $0.92 to $1.38. Continental Resources posted earnings of ($0.16) per share in the same quarter last year, which would suggest a positive year over year growth rate of 806.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Continental Resources will report full year earnings of $3.94 per share for the current fiscal year, with EPS estimates ranging from $3.22 to $4.58. For the next financial year, analysts forecast that the business will post earnings of $3.68 per share, with EPS estimates ranging from $2.66 to $4.53. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Continental Resources.

Continental Resources (NYSE:CLR) last released its earnings results on Sunday, August 1st. The oil and natural gas company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.36. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Continental Resources had a return on equity of 7.09% and a net margin of 9.47%. The business’s revenue for the quarter was up 603.2% on a year-over-year basis. During the same period last year, the firm earned ($0.71) EPS.

A number of equities research analysts recently commented on CLR shares. Morgan Stanley lifted their price objective on Continental Resources from $33.00 to $34.00 and gave the stock an “underweight” rating in a research note on Monday, August 23rd. Mizuho boosted their target price on Continental Resources from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 15th. MKM Partners upgraded Continental Resources from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $46.00 in a report on Thursday, July 15th. KeyCorp upped their target price on Continental Resources from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Raymond James upped their target price on Continental Resources from $43.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, August 31st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Continental Resources has an average rating of “Hold” and a consensus target price of $36.08.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. bought a new stake in Continental Resources during the first quarter worth $26,000. Advisory Services Network LLC bought a new stake in Continental Resources during the second quarter worth $29,000. Meeder Asset Management Inc. lifted its stake in Continental Resources by 277.7% during the first quarter. Meeder Asset Management Inc. now owns 1,390 shares of the oil and natural gas company’s stock worth $36,000 after purchasing an additional 1,022 shares during the last quarter. Deseret Mutual Benefit Administrators bought a new position in shares of Continental Resources in the 2nd quarter valued at $38,000. Finally, First Mercantile Trust Co. lifted its stake in shares of Continental Resources by 39.0% in the 1st quarter. First Mercantile Trust Co. now owns 1,515 shares of the oil and natural gas company’s stock valued at $39,000 after acquiring an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 13.14% of the company’s stock.

Shares of NYSE CLR traded down $1.53 during midday trading on Wednesday, hitting $40.44. The stock had a trading volume of 32,144 shares, compared to its average volume of 2,105,647. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.11 and a quick ratio of 1.04. Continental Resources has a fifty-two week low of $11.09 and a fifty-two week high of $43.67. The company’s 50-day simple moving average is $36.50 and its 200 day simple moving average is $32.85. The firm has a market cap of $14.86 billion, a P/E ratio of 40.75, a price-to-earnings-growth ratio of 1.14 and a beta of 3.37.

The business also recently declared a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Tuesday, August 10th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 1.48%. This is an increase from Continental Resources’s previous quarterly dividend of $0.11. Continental Resources’s dividend payout ratio is currently -51.28%.

Continental Resources Company Profile

Continental Resources, Inc engages in the exploration, development and production of crude oil and natural gas. The firm sells its crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies. The company was founded by Harold G.

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