Continental Resources (CLR) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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Continental Resources (NYSE:CLR) announced its earnings results on Monday. The oil and natural gas company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.08, MarketWatch Earnings reports. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Continental Resources had a net margin of 35.43% and a return on equity of 18.98%. The business’s revenue was up 76.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS.

Shares of CLR stock opened at $52.71 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97. The stock has a market capitalization of $20.13 billion, a price-to-earnings ratio of 103.35, a P/E/G ratio of 1.24 and a beta of 1.24. Continental Resources has a one year low of $39.95 and a one year high of $71.95.

In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $67.00, for a total value of $335,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 76.83% of the stock is owned by corporate insiders.

Several analysts have recently issued reports on CLR shares. Morgan Stanley decreased their target price on shares of Continental Resources from $97.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. ValuEngine upgraded shares of Continental Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Barclays restated a “hold” rating on shares of Continental Resources in a research report on Monday. TD Securities upgraded shares of Continental Resources from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup cut their price target on shares of Continental Resources from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, July 25th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $72.38.

About Continental Resources

Continental Resources, Inc explores for, develops, and produces crude oil and natural gas properties 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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Earnings History for Continental Resources (NYSE:CLR)

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