Q1 2019 Earnings Forecast for Continental Resources, Inc. Issued By Jefferies Financial Group (CLR)

Continental Resources, Inc. (NYSE:CLR) – Analysts at Jefferies Financial Group decreased their Q1 2019 earnings estimates for Continental Resources in a research note issued on Thursday, February 21st. Jefferies Financial Group analyst T. Hughes now anticipates that the oil and natural gas company will post earnings per share of $0.51 for the quarter, down from their prior forecast of $0.56. Jefferies Financial Group has a “Buy” rating and a $64.00 price objective on the stock. Jefferies Financial Group also issued estimates for Continental Resources’ Q2 2019 earnings at $0.55 EPS, FY2019 earnings at $2.15 EPS and FY2021 earnings at $3.51 EPS.

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Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Continental Resources from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James reissued a “buy” rating and issued a $70.00 price objective on shares of Continental Resources in a research report on Thursday. Morgan Stanley set a $57.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research report on Wednesday. TD Securities dropped their price objective on shares of Continental Resources from $57.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $56.00 price target on shares of Continental Resources in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.00.

Shares of CLR opened at $44.04 on Friday. The stock has a market capitalization of $16.92 billion, a PE ratio of 15.51, a P/E/G ratio of 1.45 and a beta of 1.50. Continental Resources has a fifty-two week low of $35.54 and a fifty-two week high of $71.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.85 and a current ratio of 1.02.

Continental Resources (NYSE:CLR) last announced its quarterly earnings results on Monday, February 18th. The oil and natural gas company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. Continental Resources had a net margin of 20.99% and a return on equity of 18.28%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS.

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new position in Continental Resources in the 3rd quarter valued at about $2,811,000. Adams Natural Resources Fund Inc. increased its holdings in Continental Resources by 189.1% in the 3rd quarter. Adams Natural Resources Fund Inc. now owns 109,000 shares of the oil and natural gas company’s stock valued at $7,443,000 after buying an additional 71,300 shares during the period. Ninepoint Partners LP bought a new position in Continental Resources in the 3rd quarter valued at about $4,097,000. Prudential Financial Inc. increased its holdings in Continental Resources by 31.0% in the 3rd quarter. Prudential Financial Inc. now owns 1,225,496 shares of the oil and natural gas company’s stock valued at $83,677,000 after buying an additional 290,300 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Continental Resources by 13.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 521,820 shares of the oil and natural gas company’s stock valued at $35,630,000 after buying an additional 62,500 shares during the period. 20.68% of the stock is currently owned by hedge funds and other institutional investors.

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

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