Continental Resources (NYSE:CLR) released its earnings results on Monday. The oil and natural gas company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08, MarketWatch Earnings reports. Continental Resources had a net margin of 32.80% and a return on equity of 14.01%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company posted $0.09 EPS. The business’s revenue was up 76.4% on a year-over-year basis.
CLR stock opened at $50.37 on Tuesday. The company has a market cap of $20.13 billion, a PE ratio of 28.03, a PEG ratio of 1.32 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.89 and a current ratio of 0.97. Continental Resources has a one year low of $39.55 and a one year high of $71.95.
A number of research analysts have weighed in on the stock. Barclays reissued a “hold” rating on shares of Continental Resources in a research note on Monday. Piper Jaffray Companies reissued a “buy” rating and issued a $82.00 target price on shares of Continental Resources in a research note on Wednesday, October 24th. Zacks Investment Research raised shares of Continental Resources from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Wednesday, October 24th. TD Securities assumed coverage on shares of Continental Resources in a research note on Thursday, July 5th. They issued a “hold” rating and a $73.00 target price on the stock. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Continental Resources in a research note on Wednesday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price 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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