Continental Resources, Inc. (NYSE:CLR) – Research analysts at KeyCorp lifted their Q1 2018 earnings estimates for shares of Continental Resources in a research report issued on Wednesday. KeyCorp analyst D. Deckelbaum now anticipates that the oil and natural gas company will post earnings of $0.74 per share for the quarter, up from their previous estimate of $0.69. KeyCorp also issued estimates for Continental Resources’ FY2018 earnings at $2.77 EPS and FY2019 earnings at $3.42 EPS.
A number of other equities analysts have also recently issued reports on CLR. Piper Jaffray Companies set a $62.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research note on Wednesday. UBS Group began coverage on shares of Continental Resources in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $55.00 price objective for the company. Jefferies Group set a $67.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research note on Tuesday, March 6th. Deutsche Bank dropped their price objective on shares of Continental Resources from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, KLR Group upgraded shares of Continental Resources from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $55.86.
Continental Resources (NYSE:CLR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $978.63 million. During the same period in the prior year, the firm earned ($0.07) EPS. The business’s revenue was up 90.5% on a year-over-year basis.
Large investors have recently modified their holdings of the business. American International Group Inc. bought a new stake in Continental Resources during the 4th quarter worth about $102,000. Exane Derivatives bought a new stake in Continental Resources during the 4th quarter worth about $113,000. Toronto Dominion Bank grew its holdings in Continental Resources by 244.1% during the 3rd quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 2,810 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Continental Resources by 126.7% during the 4th 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 acquiring an additional 1,900 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Continental Resources by 35.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock worth $187,000 after acquiring an additional 1,261 shares during the last quarter. 22.42% of the stock is currently owned by hedge funds and other institutional investors.
In other Continental Resources news, SVP Gary E. Gould sold 5,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $49.52, for a total transaction of $247,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO John D. Hart sold 6,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $51.23, for a total transaction of $307,380.00. The disclosure for this sale can be found here. In the last three months, insiders have acquired 156,909 shares of company stock worth $7,846,156 and have sold 32,874 shares worth $1,645,673. 76.87% of the stock is owned by corporate insiders.
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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.
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