Q1 2018 EPS Estimates for Continental Resources, Inc. Decreased by Analyst (CLR)

Continental Resources, Inc. (NYSE:CLR) – Equities research analysts at Piper Jaffray lowered their Q1 2018 earnings per share (EPS) estimates for shares of Continental Resources in a research note issued to investors on Wednesday, April 18th. Piper Jaffray analyst K. Harrison now anticipates that the oil and natural gas company will post earnings of $0.71 per share for the quarter, down from their previous forecast of $0.73. Piper Jaffray has a “Buy” rating and a $67.00 price objective on the stock. Piper Jaffray also issued estimates for Continental Resources’ Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.90 EPS, Q4 2018 earnings at $0.90 EPS, FY2018 earnings at $3.36 EPS and FY2019 earnings at $3.74 EPS.

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Continental Resources (NYSE:CLR) last released its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating the 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 firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $978.63 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The firm’s quarterly revenue was up 90.5% on a year-over-year basis.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Continental Resources from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday. Zacks Investment Research cut shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday. KLR Group cut shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reissued a “buy” rating and set a $61.00 price objective on shares of Continental Resources in a report on Friday, April 13th. Finally, Goldman Sachs cut shares of Continental Resources from a “buy” rating to a “neutral” rating in a report on Thursday, April 12th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $57.75.

CLR opened at $63.83 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.87. Continental Resources has a twelve month low of $29.08 and a twelve month high of $64.76. The company has a market cap of $23,792.44, a PE ratio of 125.16 and a beta of 1.27.

Several institutional investors and hedge funds have recently bought and sold shares of CLR. American International Group Inc. bought a new position in shares of Continental Resources in the fourth quarter worth approximately $102,000. Exane Derivatives bought a new position in shares of Continental Resources in the fourth quarter worth approximately $113,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Continental Resources by 126.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,400 shares of the oil and natural gas company’s stock worth $180,000 after purchasing an additional 1,900 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Continental Resources by 35.0% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after purchasing an additional 1,261 shares during the period. Finally, Calton & Associates Inc. bought a new position in shares of Continental Resources in the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 22.50% of the company’s stock.

In other Continental Resources 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Harold Hamm purchased 99,028 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $50.26 per share, with a total value of $4,977,147.28. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 156,909 shares of company stock valued at $7,846,156. Company 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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