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

Continental Resources, Inc. (NYSE:CLR) – Equities researchers at Capital One Financial reduced their FY2019 earnings per share (EPS) estimates for Continental Resources in a research note issued on Wednesday, November 13th. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings of $2.24 per share for the year, down from their prior estimate 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.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.10. Continental Resources had a return on equity of 12.49% and a net margin of 17.00%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company earned $0.90 EPS. The company’s revenue for the quarter was down 13.9% on a year-over-year basis.

Several other equities research analysts have also weighed in on CLR. MKM Partners reduced their target price on Continental Resources from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Citigroup lowered Continental Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $35.00 in a report on Monday, September 23rd. They noted that the move was a valuation call. Mizuho lowered Continental Resources from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Thursday, October 10th. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target (down from $60.00) on shares of Continental Resources in a research report on Wednesday, August 21st. Finally, Wells Fargo & Co dropped their price target on Continental Resources from $46.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $48.95.

CLR opened at $31.45 on Friday. The business has a 50 day moving average price of $29.63 and a 200 day moving average price of $34.93. Continental Resources has a twelve month low of $27.26 and a twelve month high of $52.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.81 and a current ratio of 0.89. The firm has a market cap of $11.67 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.68.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLR. WINTON GROUP Ltd increased its position in shares of Continental Resources by 16.5% during the second quarter. WINTON GROUP Ltd now owns 6,772 shares of the oil and natural gas company’s stock valued at $285,000 after purchasing an additional 959 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Continental Resources by 3.7% during the second quarter. Gulf International Bank UK Ltd now owns 21,100 shares of the oil and natural gas company’s stock valued at $888,000 after purchasing an additional 750 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Continental Resources by 21.9% during the second quarter. Nisa Investment Advisors LLC now owns 101,249 shares of the oil and natural gas company’s stock valued at $4,262,000 after purchasing an additional 18,194 shares during the period. Raymond James Trust N.A. increased its position in shares of Continental Resources by 6.1% during the second quarter. Raymond James Trust N.A. now owns 6,777 shares of the oil and natural gas company’s stock valued at $285,000 after purchasing an additional 387 shares during the period. Finally, Gateway Investment Advisers LLC increased its position in shares of Continental Resources by 59.9% during the second quarter. Gateway Investment Advisers LLC now owns 472,809 shares of the oil and natural gas company’s stock valued at $19,901,000 after purchasing an additional 177,124 shares during the period. Institutional investors and hedge funds own 19.56% of the company’s stock.

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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