Capital One Financial Corporation Brokers Decrease Earnings Estimates for Continental Resources, Inc. (CLR)

Capital One Financial Corporation Brokers Decrease Earnings Estimates for Continental Resources, Inc. (CLR)

Continental Resources, Inc. (NYSE:CLR) – Investment analysts at Capital One Financial Corporation cut their FY2016 earnings per share (EPS) estimates for shares of Continental Resources in a research note issued on Thursday. Capital One Financial Corporation analyst P. Johnston now forecasts that the brokerage will earn ($0.96) per share for the year, down from their prior forecast of ($0.90). Capital One Financial Corporation also issued estimates for Continental Resources’ Q4 2016 earnings at ($0.15) EPS and FY2017 earnings at $0.47 EPS.

Continental Resources (NYSE:CLR) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.07. The firm had revenue of $526.20 million for the quarter, compared to analysts’ expectations of $148.37 million. Continental Resources had a negative net margin of 28.27% and a negative return on equity of 8.69%. The business’s quarterly revenue was down 22.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) EPS.

CLR has been the topic of several other reports. Canaccord Genuity set a $60.00 target price on shares of Continental Resources and gave the stock a “buy” rating in a research report on Sunday, December 18th. Citigroup Inc. assumed coverage on shares of Continental Resources in a research note on Monday, October 31st. They issued a “buy” rating and a $62.00 target price for the company. BMO Capital Markets assumed coverage on shares of Continental Resources in a research note on Sunday, October 30th. They issued a “buy” rating and a $18.00 target price for the company. Jefferies Group LLC upgraded shares of Continental Resources from an “underperform” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, January 17th. Finally, KLR Group cut shares of Continental Resources from an “accumulate” rating to a “hold” rating and set a $81.00 target price for the company. in a research note on Monday, December 5th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Continental Resources currently has a consensus rating of “Buy” and a consensus target price of $51.16.

Continental Resources (NYSE:CLR) opened at 49.89 on Monday. Continental Resources has a 52 week low of $16.88 and a 52 week high of $60.30. The company’s 50 day moving average is $51.86 and its 200 day moving average is $49.61. The stock’s market cap is $18.48 billion.

In other news, CFO John D. Hart sold 3,000 shares of Continental Resources stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $52.03, for a total transaction of $156,090.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gary E. Gould sold 7,500 shares of Continental Resources stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $58.20, for a total value of $436,500.00. The disclosure for this sale can be found here. Insiders have sold 15,288 shares of company stock valued at $847,982 in the last three months. Insiders own 76.97% of the company’s stock.

Several large investors have recently bought and sold shares of CLR. FMR LLC increased its stake in Continental Resources by 97.7% in the second quarter. FMR LLC now owns 15,378,725 shares of the company’s stock worth $696,195,000 after buying an additional 7,600,699 shares in the last quarter. Vanguard Group Inc. increased its stake in Continental Resources by 2.3% in the second quarter. Vanguard Group Inc. now owns 6,024,309 shares of the company’s stock worth $272,722,000 after buying an additional 135,141 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Continental Resources by 10.0% in the second quarter. TIAA CREF Investment Management LLC now owns 2,715,980 shares of the company’s stock worth $122,952,000 after buying an additional 246,720 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Continental Resources by 12.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,595,103 shares of the company’s stock worth $117,480,000 after buying an additional 284,067 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Continental Resources by 9.5% in the second quarter. Teachers Advisors Inc. now owns 2,258,449 shares of the company’s stock worth $102,240,000 after buying an additional 196,842 shares in the last quarter. 22.93% of the stock is owned by institutional investors.

About Continental Resources

Continental Resources, Inc is an independent crude oil and natural gas exploration and production 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.

Related posts

Leave a Comment