Continental Resources, Inc. (NYSE:CLR) – Equities research analysts at Seaport Global Securities raised their FY2017 earnings estimates for shares of Continental Resources in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will post earnings of $0.35 per share for the year, up from their previous forecast of $0.15. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Continental Resources’ Q4 2017 earnings at $0.25 EPS, Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.29 EPS and FY2018 earnings at $1.22 EPS.
Several other equities analysts have also recently weighed in on CLR. Jefferies Group set a $57.00 price objective on Continental Resources and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada restated a “buy” rating and set a $52.00 price objective on shares of Continental Resources in a research note on Wednesday. Robert W. Baird upgraded Continental Resources from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $46.00 to $54.00 in a research note on Monday. Imperial Capital upgraded Continental Resources from an “in-line” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Thursday, November 9th. Finally, Credit Suisse Group began coverage on Continental Resources in a research note on Monday, December 11th. They set an “outperform” rating and a $57.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.65.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. Continental Resources had a positive return on equity of 0.23% and a negative net margin of 0.95%. The business had revenue of $726.74 million for the quarter, compared to analysts’ expectations of $710.77 million. During the same period last year, the business earned ($0.22) EPS. The business’s revenue was up 38.1% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank grew its holdings in Continental Resources by 244.1% during the 3rd quarter. Toronto Dominion Bank now owns 3,961 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 2,810 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Continental Resources by 35.0% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,863 shares of the oil and natural gas company’s stock valued at $187,000 after buying an additional 1,261 shares in the last quarter. Sii Investments Inc. WI purchased a new position in shares of Continental Resources during the third quarter worth about $200,000. Sei Investments Co. grew its holdings in shares of Continental Resources by 131.7% during the third quarter. Sei Investments Co. now owns 5,294 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 3,009 shares in the last quarter. Finally, IndexIQ Advisors LLC purchased a new position in shares of Continental Resources during the second quarter worth about $210,000. 22.54% of the stock is owned by institutional investors and hedge funds.
In other Continental Resources news, Director Mark E. Monroe sold 20,000 shares of Continental Resources stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $47.90, for a total transaction of $958,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 76.87% of the stock is owned by insiders.
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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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