Piper Jaffray Brokers Boost Earnings Estimates for Continental Resources, Inc. (CLR)

Continental Resources, Inc. (NYSE:CLR) – Research analysts at Piper Jaffray upped their Q1 2019 earnings per share estimates for Continental Resources in a research report issued to clients and investors on Wednesday, April 18th. Piper Jaffray analyst K. Harrison now anticipates that the oil and natural gas company will post earnings per share of $0.86 for the quarter, up from their previous forecast of $0.74. Piper Jaffray currently has a “Buy” rating and a $67.00 target price on the stock. Piper Jaffray also issued estimates for Continental Resources’ Q2 2019 earnings at $0.86 EPS, Q3 2019 earnings at $0.95 EPS and Q4 2019 earnings at $1.07 EPS.

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Continental Resources (NYSE:CLR) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. Continental Resources had a net margin of 25.30% and a return on equity of 4.25%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $978.63 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue was up 90.5% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research note on Wednesday. KLR Group downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price target on shares of Continental Resources in a research report on Friday, April 13th. Goldman Sachs cut shares of Continental Resources from a “buy” rating to a “neutral” rating in a research report on Thursday, April 12th. Finally, Stifel Nicolaus set a $68.00 price target on shares of Continental Resources and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $57.48.

Shares of NYSE CLR opened at $64.04 on Thursday. Continental Resources has a 1-year low of $29.08 and a 1-year high of $64.76. The stock has a market capitalization of $23,308.41, a price-to-earnings ratio of 125.57 and a beta of 1.27. The company has a quick ratio of 0.87, a current ratio of 0.94 and a debt-to-equity ratio of 1.24.

Institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust acquired a new position in shares of Continental Resources in the fourth quarter valued at approximately $274,000. SG Americas Securities LLC acquired a new position in shares of Continental Resources in the fourth quarter valued at approximately $297,000. State of Alaska Department of Revenue acquired a new position in shares of Continental Resources in the fourth quarter valued at approximately $317,000. Sovarnum Capital L.P. acquired a new position in shares of Continental Resources in the fourth quarter valued at approximately $265,000. Finally, AGF Investments Inc. boosted its holdings in shares of Continental Resources by 39.4% in the fourth quarter. AGF Investments Inc. now owns 74,539 shares of the oil and natural gas company’s stock valued at $3,948,000 after buying an additional 21,074 shares during the period. Institutional investors own 22.50% of the company’s stock.

In other news, SVP Eric Spencer Eissenstat sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $56.02, for a total value of $560,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John D. Hart sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $53.13, for a total transaction of $796,950.00. The disclosure for this sale can be found here. Insiders bought 156,909 shares of company stock valued at $7,846,156 in the last quarter. Corporate insiders own 76.83% of the company’s stock.

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About Continental Resources

Continental Resources, Inc is a crude oil and natural gas 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.

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

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