Wall Street analysts expect Continental Resources, Inc. (NYSE:CLR) to post $1.04 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Continental Resources’ earnings, with the highest sales estimate coming in at $1.10 billion and the lowest estimate coming in at $911.86 million. Continental Resources posted sales of $175.66 million in the same quarter last year, which suggests a positive year over year growth rate of 492.1%. The firm is scheduled to issue its next earnings report on Monday, August 2nd.
According to Zacks, analysts expect that Continental Resources will report full-year sales of $4.42 billion for the current financial year, with estimates ranging from $4.00 billion to $4.78 billion. For the next year, analysts anticipate that the company will post sales of $4.25 billion, with estimates ranging from $3.84 billion to $5.21 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Continental Resources.
Continental Resources (NYSE:CLR) last posted its quarterly earnings data on Tuesday, April 27th. The oil and natural gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.25. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $922.45 million. Continental Resources had a negative net margin of 10.54% and a negative return on equity of 2.05%. Continental Resources’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share.
A number of research analysts have commented on CLR shares. Credit Suisse Group lifted their price objective on shares of Continental Resources from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, May 5th. The Goldman Sachs Group initiated coverage on shares of Continental Resources in a research note on Tuesday, March 23rd. They set a “sell” rating and a $24.50 price target on the stock. KeyCorp boosted their price target on shares of Continental Resources from $29.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 17th. Citigroup boosted their price target on shares of Continental Resources from $16.00 to $19.00 in a research note on Tuesday, January 26th. Finally, Bank of America reiterated a “neutral” rating on shares of Continental Resources in a research note on Monday, March 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Continental Resources presently has a consensus rating of “Hold” and a consensus price target of $26.55.
In other news, Director Ellis L. Mccain sold 27,238 shares of the business’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $30.68, for a total value of $835,661.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John D. Hart sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $26.63, for a total transaction of $199,725.00. The disclosure for this sale can be found here. Insiders sold 42,051 shares of company stock worth $1,252,071 in the last ninety days. Insiders own 79.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Stifel Financial Corp raised its position in shares of Continental Resources by 0.7% in the first quarter. Stifel Financial Corp now owns 47,761 shares of the oil and natural gas company’s stock valued at $1,236,000 after buying an additional 348 shares during the last quarter. First Mercantile Trust Co. increased its position in Continental Resources by 39.0% during the first quarter. First Mercantile Trust Co. now owns 1,515 shares of the oil and natural gas company’s stock worth $39,000 after purchasing an additional 425 shares during the last quarter. Fifth Third Bancorp increased its position in Continental Resources by 1.2% during the first quarter. Fifth Third Bancorp now owns 37,519 shares of the oil and natural gas company’s stock worth $971,000 after purchasing an additional 443 shares during the last quarter. Adams Wealth Management increased its position in Continental Resources by 3.7% during the first quarter. Adams Wealth Management now owns 17,891 shares of the oil and natural gas company’s stock worth $463,000 after purchasing an additional 646 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Continental Resources by 4.5% during the first quarter. Victory Capital Management Inc. now owns 15,953 shares of the oil and natural gas company’s stock worth $413,000 after purchasing an additional 688 shares during the last quarter. 14.81% of the stock is owned by institutional investors and hedge funds.
NYSE CLR opened at $30.58 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market cap of $11.24 billion, a PE ratio of -35.56 and a beta of 3.37. Continental Resources has a one year low of $11.09 and a one year high of $32.51. The firm’s fifty day moving average is $27.77 and its two-hundred day moving average is $22.23.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 24th. Shareholders of record on Monday, May 10th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 7th. This is an increase from Continental Resources’s previous quarterly dividend of $0.05. Continental Resources’s dividend payout ratio is 19.56%.
Continental Resources Company Profile
Continental Resources, Inc explores for, develops, and produces crude oil and natural gas 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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