Q1 2017 EPS Estimates for Continental Resources, Inc. (CLR) Lowered by KeyCorp
Continental Resources, Inc. (NYSE:CLR) – Equities research analysts at KeyCorp cut their Q1 2017 earnings per share (EPS) estimates for Continental Resources in a report released on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will earn $0.07 per share for the quarter, down from their prior forecast of $0.13. KeyCorp also issued estimates for Continental Resources’ Q2 2017 earnings at $0.10 EPS, Q3 2017 earnings at $0.28 EPS, Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $0.86 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.62 EPS and FY2018 earnings at $2.04 EPS.
Continental Resources (NYSE:CLR) last issued its quarterly earnings data on Wednesday, February 22nd. The oil and natural gas company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm earned $549.70 million during the quarter, compared to analyst estimates of $583.45 million. Continental Resources had a negative return on equity of 8.69% and a negative net margin of 28.27%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.38) EPS.
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A number of other equities research analysts also recently commented on CLR. Barclays PLC reaffirmed a “buy” rating and issued a $53.00 target price on shares of Continental Resources in a research report on Thursday. Canaccord Genuity set a $61.00 price objective on shares of Continental Resources and gave the company a “buy” rating in a research report on Saturday, February 11th. Instinet reissued a “positive” rating on shares of Continental Resources in a research report on Monday, January 30th. Deutsche Bank AG cut their price objective on shares of Continental Resources from $64.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday, March 7th. Finally, Scotiabank reissued a “buy” rating and set a $68.00 price objective on shares of Continental Resources in a research report on Thursday, February 23rd. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $52.80.
Shares of Continental Resources (NYSE:CLR) opened at 43.24 on Friday. Continental Resources has a one year low of $34.43 and a one year high of $60.30. The company’s market capitalization is $16.02 billion. The firm’s 50-day moving average price is $44.68 and its 200-day moving average price is $49.05.
Hedge funds have recently made changes to their positions in the company. Castleark Management LLC boosted its stake in shares of Continental Resources by 3.2% in the fourth quarter. Castleark Management LLC now owns 575,168 shares of the oil and natural gas company’s stock valued at $29,644,000 after buying an additional 17,628 shares during the last quarter. L & S Advisors Inc bought a new stake in shares of Continental Resources during the fourth quarter valued at approximately $3,071,000. California Public Employees Retirement System boosted its stake in shares of Continental Resources by 0.3% in the third quarter. California Public Employees Retirement System now owns 255,300 shares of the oil and natural gas company’s stock valued at $13,265,000 after buying an additional 800 shares during the last quarter. Penn Capital Management Co. Inc. boosted its stake in shares of Continental Resources by 192.2% in the third quarter. Penn Capital Management Co. Inc. now owns 23,658 shares of the oil and natural gas company’s stock valued at $1,233,000 after buying an additional 15,561 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Continental Resources by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 19,560 shares of the oil and natural gas company’s stock valued at $1,008,000 after buying an additional 2,221 shares during the last quarter. Institutional investors and hedge funds own 23.17% of the company’s stock.
In related news, CEO Harold Hamm purchased 41,998 shares of the firm’s stock in a transaction on Friday, March 24th. The shares were acquired at an average price of $42.37 per share, for a total transaction of $1,779,455.26. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John D. Hart sold 12,000 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $45.01, for a total transaction of $540,120.00. The disclosure for this sale can be found here. 76.97% of the stock is owned by insiders.
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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