Brokerages Anticipate Continental Resources, Inc. (NYSE:CLR) Will Post Quarterly Sales of $2.57 Billion

Equities analysts predict that Continental Resources, Inc. (NYSE:CLRGet Rating) will report $2.57 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Continental Resources’ earnings, with the highest sales estimate coming in at $2.96 billion and the lowest estimate coming in at $2.25 billion. Continental Resources posted sales of $1.24 billion during the same quarter last year, which suggests a positive year over year growth rate of 107.3%. The business is expected to report its next quarterly earnings results 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 year, analysts expect that the firm will post sales of $9.31 billion, with estimates ranging from $8.60 billion to $11.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Continental Resources.

Continental Resources (NYSE:CLRGet Rating) last issued its quarterly 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. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Continental Resources had a net margin of 31.63% and a return on equity of 31.43%. The company’s revenue was up 49.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS.

CLR has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of Continental Resources from $61.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, April 7th. Truist Financial raised their price objective on shares of Continental Resources from $80.00 to $95.00 in a research report on Thursday, April 21st. Royal Bank of Canada upgraded shares of Continental Resources from a “sector perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Monday, February 7th. Morgan Stanley lifted their price target on shares of Continental Resources from $53.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, April 22nd. Finally, Citigroup lifted their price target on shares of Continental Resources from $54.00 to $60.00 in a report on Thursday, January 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.58.

Shares of CLR stock traded down $0.63 on Friday, hitting $60.64. 6,511 shares of the stock traded hands, compared to its average volume of 1,554,025. The firm has a market cap of $22.01 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.14 and a beta of 2.76. Continental Resources has a 52 week low of $29.32 and a 52 week high of $66.86. The firm has a 50 day simple moving average of $60.47 and a two-hundred day simple moving average of $53.56. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 23rd. Shareholders of record on Monday, May 9th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.85%. This is a boost from Continental Resources’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, May 6th. Continental Resources’s payout ratio is 20.40%.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. bought a new position in shares of Continental Resources during the 3rd quarter worth approximately $27,000. Lazard Asset Management LLC bought a new position in shares of Continental Resources during the 1st quarter worth approximately $26,000. Acadian Asset Management LLC bought a new position in shares of Continental Resources during the 1st quarter worth approximately $36,000. Farmers & Merchants Investments Inc. bought a new position in shares of Continental Resources during the 4th quarter worth approximately $29,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of Continental Resources during the 1st quarter worth approximately $47,000. Hedge funds and other 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.

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

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