Continental Resources, Inc. (NYSE:CLR – Get Rating) – Equities researchers at Capital One Financial raised their Q3 2022 earnings estimates for Continental Resources in a research note issued on Wednesday, May 18th. Capital One Financial analyst P. Johnston now expects that the oil and natural gas company will post earnings per share of $3.33 for the quarter, up from their prior forecast of $2.50. Capital One Financial also issued estimates for Continental Resources’ Q4 2022 earnings at $3.59 EPS, FY2022 earnings at $12.83 EPS and FY2023 earnings at $11.31 EPS.
CLR has been the subject of several other research reports. StockNews.com downgraded shares of Continental Resources from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Susquehanna increased their target price on shares of Continental Resources from $61.00 to $66.00 in a report on Monday, April 25th. MKM Partners raised their price objective on shares of Continental Resources from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, February 16th. 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 report on Thursday, March 31st. Finally, TD Securities raised their price objective on shares of Continental Resources from $50.00 to $61.00 and gave the stock a “hold” rating in a report on Tuesday, February 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $66.58.
Continental Resources (NYSE:CLR – Get Rating) last announced its earnings results on Wednesday, May 4th. The oil and natural gas company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.41 by $0.24. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.16 billion. Continental Resources had a net margin of 31.63% and a return on equity of 31.43%. The firm’s revenue for the quarter was up 49.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 23rd. Shareholders of record on Monday, May 9th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Friday, May 6th. This is a positive change from Continental Resources’s previous quarterly dividend of $0.23. Continental Resources’s dividend payout ratio (DPR) is currently 20.40%.
In other news, major shareholder Harold Hamm acquired 300,744 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was bought at an average cost of $59.30 per share, for a total transaction of $17,834,119.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jack H. Stark sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were sold at an average price of $63.68, for a total transaction of $1,592,000.00. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $6,204,250 in the last quarter. Company insiders own 58.57% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Continental Resources in the first quarter valued at approximately $26,000. Acadian Asset Management LLC purchased a new stake in Continental Resources in the first quarter valued at approximately $36,000. Farmers & Merchants Investments Inc. purchased a new stake in Continental Resources in the fourth quarter valued at approximately $29,000. Atlas Capital Advisors LLC purchased a new stake in Continental Resources in the first quarter valued at approximately $47,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Continental Resources by 507.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 778 shares of the oil and natural gas company’s stock valued at $48,000 after purchasing an additional 650 shares in 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.
- Get a free copy of the StockNews.com research report on Continental Resources (CLR)
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