Continental Resources, Inc. (NYSE:CLR – Get Rating) – Truist Financial upped their Q1 2022 earnings estimates for Continental Resources in a research report issued to clients and investors on Tuesday, April 12th. Truist Financial analyst N. Dingmann now expects that the oil and natural gas company will post earnings of $1.72 per share for the quarter, up from their prior estimate of $1.69. Truist Financial currently has a “Buy” rating and a $79.00 target price on the stock. Truist Financial also issued estimates for Continental Resources’ Q2 2022 earnings at $1.63 EPS, Q4 2022 earnings at $1.68 EPS, FY2022 earnings at $6.65 EPS and FY2023 earnings at $5.98 EPS.
A number of other equities analysts have also weighed in on the stock. TD Securities upped their target price on shares of Continental Resources from $50.00 to $61.00 and gave the stock a “hold” rating in a research report on Tuesday, February 15th. Zacks Investment Research downgraded shares of Continental Resources from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a research note on Tuesday, December 21st. Raymond James upped their price target on shares of Continental Resources from $60.00 to $70.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 25th. Morgan Stanley decreased their price target on shares of Continental Resources from $57.00 to $53.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 25th. Finally, Piper Sandler upped their price target on shares of Continental Resources from $61.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.74.
Continental Resources (NYSE:CLR – Get Rating) last issued its earnings results on Monday, February 14th. The oil and natural gas company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. Continental Resources had a net margin of 29.04% and a return on equity of 23.67%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Continental Resources’s revenue for the quarter was up 130.0% on a year-over-year basis.
A number of institutional investors have recently bought and sold shares of the business. Smead Capital Management Inc. lifted its holdings in Continental Resources by 18.5% during the fourth quarter. Smead Capital Management Inc. now owns 6,578,234 shares of the oil and natural gas company’s stock worth $294,442,000 after buying an additional 1,027,801 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Continental Resources by 3.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,051,935 shares of the oil and natural gas company’s stock worth $94,704,000 after purchasing an additional 61,849 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Continental Resources by 84.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,964,128 shares of the oil and natural gas company’s stock worth $90,645,000 after purchasing an additional 900,000 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Continental Resources by 29.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,414 shares of the oil and natural gas company’s stock worth $80,855,000 after purchasing an additional 408,479 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Continental Resources by 11.4% during the fourth quarter. Northern Trust Corp now owns 1,658,206 shares of the oil and natural gas company’s stock worth $74,221,000 after purchasing an additional 169,703 shares in the last quarter. Institutional investors own 13.41% of the company’s stock.
In other Continental Resources news, President Jack H. Stark sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $63.68, for a total transaction of $1,592,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Harold Hamm bought 300,744 shares of the stock in a transaction on Monday, March 7th. The shares were bought at an average price of $59.30 per share, with a total value of $17,834,119.20. The disclosure for this purchase can be found here. Insiders sold 100,000 shares of company stock valued at $6,204,250 in the last quarter. 82.35% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Friday, March 4th. Investors of record on Tuesday, February 22nd were issued a $0.23 dividend. This is a positive change from Continental Resources’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.40%. Continental Resources’s payout ratio is presently 20.18%.
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.
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