Analysts Expect Continental Resources, Inc. (NYSE: CLR) Will Announce Quarterly Sales of $ 2.57 Billion


Analysts forecast that Continental Resources, Inc. (NYSE: CLR – Get Rating) will report $ 2.57 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Continental Resources’ earnings. The highest sales estimate is $ 2.96 billion and the lowest is $ 2.25 billion. Continental Resources posted sales of $ 1.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 107.3%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Continental Resources will report full-year sales of $ 9.77 billion for the current fiscal year, with estimates ranging from $ 9.17 billion to $ 11.37 billion. For the next financial year, analysts expect that the company will post sales of $ 9.31 billion, with estimates ranging from $ 8.60 billion to $ 11.00 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Continental Resources.

Continental Resources (NYSE: CLR – Get Rating) last announced its earnings results on Wednesday, May 4th. The oil and natural gas company reported $ 2.65 earnings per share for the quarter, topping the consensus estimate of $ 2.41 by $ 0.24. Continental Resources had a net margin of 31.63% and a return on equity of 31.43%. The company had revenue of $ 1.82 billion during the quarter, compared to analyst estimates of $ 2.16 billion. During the same quarter last year, the firm posted $ 0.77 earnings per share. Continental Resources’s revenue was up 49.4% compared to the same quarter last year.

A number of equities research analysts recently commented on the stock. Susquehanna raised their price objective on shares of Continental Resources from $ 61.00 to $ 66.00 in a research report on Monday, April 25th. Barclays increased their target price on shares of Continental Resources from $ 64.00 to $ 67.00 and gave the company an “underweight” rating in a report on Tuesday, April 19th. Raymond James increased their target price on shares of Continental Resources from $ 70.00 to $ 80.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Mizuho raised their price objective on shares of Continental Resources from $ 59.00 to $ 72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 31st. Finally, Piper Sandler raised their price objective on shares of Continental Resources from $ 61.00 to $ 76.00 and gave the stock a “neutral” rating in a research note on Thursday, April 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $ 66.58.

Shares of Continental Resources stock opened at $ 57.85 on Friday. The firm’s fifty-day simple moving average is $ 60.40 and its 200-day simple moving average is $ 53.40. The stock has a market capitalization of $ 21.00 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 0.14 and a beta of 2.77. Continental Resources has a 12 month low of $ 29.32 and a 12 month high of $ 66.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 23rd. Stockholders of record on Monday, May 9th will be given a $ 0.28 dividend. This is a positive change from Continental Resources’s previous quarterly dividend of $ 0.23. The ex-dividend date is Friday, May 6th. This represents a $ 1.12 annualized dividend and a dividend yield of 1.94%. Continental Resources’s dividend payout ratio (DPR) is presently 20.40%.

In other Continental Resources news, President Jack H. Stark sold 50,000 shares of Continental Resources stock in a transaction on Friday, March 4th. The stock was sold at an average price of $ 60.13, for a total transaction of $ 3,006,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Harold Hamm bought 300,744 shares of the business’s stock in a transaction on Monday, March 7th. The shares were acquired at an average cost of $ 59.30 per share, for a total transaction of $ 17,834,119.20. The disclosure for this purchase can be found here. In the last quarter, insiders sold 100,000 shares of the company’s stock valued at $ 6,204,250. Insiders own 58.57% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Smead Capital Management Inc. grew its holdings in shares of Continental Resources by 18.5% in the 4th quarter. Smead Capital Management Inc. now owns 6,578,234 shares of the company’s oil and natural gas stock worth $ 294,442,000 after acquiring an additional 1,027,801 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Continental Resources by 6.5% in the 1st quarter. BlackRock Inc. now owns 3,118,624 shares of the company’s oil and natural gas stock worth $ 191,266,000 after acquiring an additional 189,822 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Continental Resources by 3.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,051,935 shares of the company’s oil and natural gas stock worth $ 94,704,000 after acquiring an additional 61,849 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Continental Resources by 29.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,414 shares of the company’s oil and natural gas stock worth $ 80,855,000 after acquiring an additional 408,479 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Continental Resources by 11.4% in the 4th quarter. Northern Trust Corp now owns 1,658,206 shares of the company’s oil and natural gas stock worth $ 74,221,000 after acquiring an additional 169,703 shares during the last quarter. Institutional investors own 13.41% of the company’s stock.

Continental Resources Company Profile (Get Rating)

Continental Resources, Inc explores for, develops, produces, and manages crude oil, natural gas, and related products 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.

See Also

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Earnings History and Estimates for Continental Resources (NYSE: CLR)



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