Capital One Financial Weighs in on Continental Resources, Inc.’s FY2019 Earnings (NYSE:CLR)

Continental Resources, Inc. (NYSE:CLR) – Stock analysts at Capital One Financial cut their FY2019 EPS estimates for shares of Continental Resources in a research note issued to investors on Wednesday, November 13th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will post earnings per share of $2.24 for the year, down from their prior forecast of $2.30. Capital One Financial also issued estimates for Continental Resources’ Q4 2019 earnings at $0.54 EPS and FY2020 earnings at $2.60 EPS.

Several other research firms have also recently weighed in on CLR. Citigroup cut shares of Continental Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $35.00 in a research report on Monday, September 23rd. They noted that the move was a valuation call. ValuEngine upgraded shares of Continental Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays dropped their price objective on shares of Continental Resources from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Guggenheim restated a “buy” rating and issued a $50.00 price objective (down previously from $60.00) on shares of Continental Resources in a research report on Wednesday, August 21st. Finally, Wells Fargo & Co dropped their price objective on shares of Continental Resources from $46.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $48.95.

Shares of NYSE:CLR traded up $0.91 during trading on Friday, reaching $31.62. The stock had a trading volume of 549,389 shares, compared to its average volume of 2,540,777. Continental Resources has a 52 week low of $27.26 and a 52 week high of $52.03. The business’s 50-day moving average price is $29.62 and its 200 day moving average price is $35.01. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.81. The stock has a market capitalization of $11.67 billion, a PE ratio of 11.13, a P/E/G ratio of 1.31 and a beta of 1.68.

Continental Resources (NYSE:CLR) last posted its earnings results on Wednesday, October 30th. The oil and natural gas company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.10. Continental Resources had a net margin of 17.00% and a return on equity of 12.49%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. Continental Resources’s quarterly revenue was down 13.9% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLR. D. E. Shaw & Co. Inc. grew its holdings in Continental Resources by 42.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,354,794 shares of the oil and natural gas company’s stock worth $141,203,000 after acquiring an additional 1,000,030 shares during the period. Nuveen Asset Management LLC grew its holdings in Continental Resources by 7,653.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 773,526 shares of the oil and natural gas company’s stock worth $32,557,000 after acquiring an additional 763,549 shares during the period. Worldquant Millennium Advisors LLC grew its holdings in Continental Resources by 190.9% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,019,207 shares of the oil and natural gas company’s stock worth $42,898,000 after acquiring an additional 668,830 shares during the period. JPMorgan Chase & Co. grew its holdings in Continental Resources by 737.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 621,244 shares of the oil and natural gas company’s stock worth $26,255,000 after acquiring an additional 547,062 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Continental Resources by 6.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,462,357 shares of the oil and natural gas company’s stock worth $356,181,000 after acquiring an additional 512,106 shares during the period. 19.56% of the stock is owned by hedge funds and other institutional investors.

Continental Resources Company Profile

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

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