Continental Resources Inc. (CLR) Forecasted to Post Q1 2018 Earnings of $0.21 Per Share
Continental Resources Inc. (NYSE:CLR) – Investment analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for shares of Continental Resources in a report released on Tuesday. KeyCorp analyst D. Deckelbaum forecasts that the firm will earn $0.21 per share for the quarter. KeyCorp also issued estimates for Continental Resources’ Q2 2018 earnings at $0.25 EPS, Q3 2018 earnings at $0.31 EPS and FY2018 earnings at $1.17 EPS.
Continental Resources (NYSE:CLR) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. Continental Resources had a negative return on equity of 8.69% and a negative net margin of 28.27%. The business earned $526.20 million during the quarter, compared to the consensus estimate of $148.37 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was down 22.9% compared to the same quarter last year.
CLR has been the subject of several other reports. Canaccord Genuity set a $60.00 price target on Continental Resources and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Stifel Nicolaus reiterated a “hold” rating on shares of Continental Resources in a research report on Wednesday, August 31st. SunTrust Banks Inc. upgraded Continental Resources from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, August 1st. Barclays PLC upgraded Continental Resources from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $48.00 to $60.00 in a research report on Monday, October 17th. Finally, Nomura boosted their price objective on Continental Resources from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Continental Resources currently has a consensus rating of “Buy” and an average target price of $46.07.
Continental Resources (NYSE:CLR) traded down 0.45% on Wednesday, reaching $53.30. The company’s stock had a trading volume of 942,906 shares. The firm has a 50-day moving average of $50.45 and a 200 day moving average of $46.37. The company’s market capitalization is $19.75 billion. Continental Resources has a 12-month low of $13.94 and a 12-month high of $55.07.
A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Continental Resources by 3.0% in the first quarter. Geode Capital Management LLC now owns 491,417 shares of the company’s stock worth $14,908,000 after buying an additional 14,238 shares during the period. Legal & General Group Plc boosted its stake in shares of Continental Resources by 1.7% in the first quarter. Legal & General Group Plc now owns 351,685 shares of the company’s stock worth $10,677,000 after buying an additional 5,995 shares during the period. LPL Financial LLC boosted its stake in shares of Continental Resources by 24.2% in the first quarter. LPL Financial LLC now owns 32,190 shares of the company’s stock worth $949,000 after buying an additional 6,278 shares during the period. Seven Eight Capital LLC boosted its stake in shares of Continental Resources by 78.1% in the first quarter. Seven Eight Capital LLC now owns 14,549 shares of the company’s stock worth $442,000 after buying an additional 6,379 shares during the period. Finally, Avalon Advisors LLC boosted its stake in shares of Continental Resources by 42.9% in the first quarter. Avalon Advisors LLC now owns 21,995 shares of the company’s stock worth $668,000 after buying an additional 6,598 shares during the period. Hedge funds and other institutional investors own 24.07% of the company’s stock.
In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $50.25, for a total transaction of $251,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John D. Hart sold 4,000 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $46.84, for a total value of $187,360.00. The disclosure for this sale can be found here. 76.97% of the stock is owned by corporate insiders.
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About Continental Resources
Continental Resources, Inc is an independent crude oil and natural gas exploration and production 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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