Continental Resources, Inc. (NYSE:CLR) – Capital One Financial Corporation cut their FY2017 EPS estimates for Continental Resources in a research report issued on Monday. Capital One Financial Corporation analyst P. Johnston now anticipates that the oil and natural gas company will post earnings of $0.45 per share for the year, down from their prior estimate of $0.46. Capital One Financial Corporation also issued estimates for Continental Resources’ Q4 2017 earnings at $0.18 EPS and FY2018 earnings at $0.73 EPS.
Continental Resources (NYSE:CLR) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Continental Resources had a negative net margin of 9.08% and a negative return on equity of 3.93%. The company had revenue of $685.43 million for the quarter, compared to the consensus estimate of $646.46 million. ILLEGAL ACTIVITY WARNING: This piece was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be read at https://sportsperspectives.com/2017/06/22/continental-resources-inc-to-post-fy2017-earnings-of-0-45-per-share-capital-one-financial-corporation-forecasts-clr.html.
Several other brokerages have also issued reports on CLR. Credit Suisse Group raised Continental Resources from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $40.00 to $57.00 in a research note on Friday, May 5th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $62.00 target price on shares of Continental Resources in a research note on Friday, May 26th. Barclays PLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Continental Resources in a research note on Sunday, May 7th. Seaport Global Securities lowered Continental Resources from a “buy” rating to a “sell” rating and cut their target price for the stock from $57.00 to $20.00 in a research note on Wednesday. Finally, Wolfe Research initiated coverage on Continental Resources in a research note on Thursday, June 15th. They issued an “outperform” rating and a $45.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.32.
Continental Resources (NYSE CLR) traded up 2.27% during midday trading on Tuesday, hitting $31.08. 1,311,267 shares of the stock were exchanged. The company’s 50 day moving average is $38.65 and its 200 day moving average is $45.43. The company’s market capitalization is $11.53 billion. Continental Resources has a 1-year low of $30.18 and a 1-year high of $60.30.
In other Continental Resources news, CEO Harold Hamm bought 36,452 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was bought at an average price of $42.05 per share, for a total transaction of $1,532,806.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have purchased 111,435 shares of company stock valued at $4,727,318. 76.97% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Continental Resources by 4,992.6% in the first quarter. BlackRock Inc. now owns 4,961,398 shares of the oil and natural gas company’s stock worth $225,346,000 after buying an additional 4,863,974 shares in the last quarter. Bank of America Corp DE increased its position in shares of Continental Resources by 86.6% in the first quarter. Bank of America Corp DE now owns 3,497,989 shares of the oil and natural gas company’s stock worth $158,879,000 after buying an additional 1,623,470 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Continental Resources during the fourth quarter worth approximately $60,121,000. Norges Bank acquired a new position in shares of Continental Resources during the fourth quarter worth approximately $36,323,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Continental Resources during the first quarter worth approximately $22,855,000. Institutional investors own 23.04% of the company’s stock.
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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