Analysts expect Continental Resources, Inc. (NYSE:CLR) to announce $706.85 million in sales for the current quarter, Zacks reports. Eleven analysts have made estimates for Continental Resources’ earnings. The lowest sales estimate is $668.06 million and the highest is $753.89 million. Continental Resources reported sales of $526.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.3%. The company is expected to issue its next earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Continental Resources will report full year sales of $706.85 million for the current financial year, with estimates ranging from $2.69 billion to $2.93 billion. For the next financial year, analysts expect that the business will post sales of $3.60 billion per share, with estimates ranging from $2.41 billion to $4.36 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Continental Resources.
A number of brokerages have recently commented on CLR. BidaskClub upgraded Continental Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Barclays PLC set a $37.00 price target on Continental Resources and gave the company an “overweight” rating in a report on Thursday, August 10th. BMO Capital Markets cut their price target on Continental Resources from $45.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, July 14th. Robert W. Baird set a $40.00 price target on Continental Resources and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, KeyCorp restated a “hold” rating on shares of Continental Resources in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.50.
Shares of Continental Resources (NYSE CLR) traded up 2.74% on Friday, reaching $40.45. The company’s stock had a trading volume of 2,896,115 shares. The company’s 50 day moving average is $37.31 and its 200-day moving average is $36.47. The stock’s market cap is $15.01 billion. Continental Resources has a 1-year low of $29.08 and a 1-year high of $60.30.
Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its position in shares of Continental Resources by 1.5% in the second quarter. ProShare Advisors LLC now owns 8,180 shares of the oil and natural gas company’s stock valued at $264,000 after purchasing an additional 118 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Continental Resources by 1.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,873 shares of the oil and natural gas company’s stock valued at $255,000 after purchasing an additional 146 shares during the last quarter. Utah Retirement Systems grew its position in shares of Continental Resources by 1.3% in the second quarter. Utah Retirement Systems now owns 16,004 shares of the oil and natural gas company’s stock valued at $517,000 after purchasing an additional 200 shares during the last quarter. Aviva PLC grew its position in shares of Continental Resources by 0.5% in the second quarter. Aviva PLC now owns 56,252 shares of the oil and natural gas company’s stock valued at $1,819,000 after purchasing an additional 300 shares during the last quarter. Finally, Parsons Capital Management Inc. RI grew its position in shares of Continental Resources by 5.3% in the first quarter. Parsons Capital Management Inc. RI now owns 6,505 shares of the oil and natural gas company’s stock valued at $295,000 after purchasing an additional 325 shares during the last quarter. 23.22% of the stock is currently owned by institutional investors.
About Continental Resources
Continental Resources, Inc is a crude oil and natural gas company with properties in the North, South and East regions of the United States. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken and the Red River units.
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