KeyCorp Weighs in on Continental Resources, Inc.’s Q1 2022 Earnings (NYSE:CLR)

Continental Resources, Inc. (NYSE:CLRGet Rating) – Research analysts at KeyCorp lifted their Q1 2022 earnings per share (EPS) estimates for Continental Resources in a research report issued on Wednesday, April 27th. KeyCorp analyst L. Mariani now forecasts that the oil and natural gas company will earn $2.61 per share for the quarter, up from their previous forecast of $2.57. KeyCorp currently has a “Overweight” rating and a $72.00 target price on the stock. KeyCorp also issued estimates for Continental Resources’ Q2 2022 earnings at $3.16 EPS, Q3 2022 earnings at $2.63 EPS, Q4 2022 earnings at $2.73 EPS, FY2022 earnings at $11.13 EPS, Q1 2023 earnings at $2.41 EPS, Q2 2023 earnings at $2.21 EPS, Q3 2023 earnings at $2.42 EPS, Q4 2023 earnings at $2.50 EPS and FY2023 earnings at $9.54 EPS.

Several other analysts also recently issued reports on the company. Morgan Stanley increased their price target on Continental Resources from $53.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, April 22nd. Raymond James raised their target price on Continental Resources from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday. MKM Partners raised their target price on Continental Resources from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, February 16th. TD Securities raised their target price on Continental Resources from $50.00 to $61.00 and gave the company a “hold” rating in a research note on Tuesday, February 15th. Finally, StockNews.com upgraded Continental Resources from a “hold” rating to a “buy” rating in a research note on Friday, April 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Continental Resources currently has an average rating of “Hold” and a consensus price target of $62.62.

Shares of NYSE CLR opened at $56.09 on Thursday. Continental Resources has a 12-month low of $26.30 and a 12-month high of $66.86. The company has a market cap of $20.43 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average price of $59.85 and a 200 day moving average price of $52.90.

Continental Resources (NYSE:CLRGet Rating) last released its quarterly earnings data on Monday, February 14th. The oil and natural gas company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.71 billion. Continental Resources had a return on equity of 23.67% and a net margin of 29.04%. The business’s revenue for the quarter was up 130.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) EPS.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 23rd. Shareholders of record on Monday, May 9th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.00%. This is a boost from Continental Resources’s previous quarterly dividend of $0.23. Continental Resources’s dividend payout ratio (DPR) is currently 20.18%.

In other Continental Resources news, major shareholder Harold Hamm purchased 300,744 shares of the business’s stock in a transaction dated 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Jack H. Stark sold 25,000 shares of Continental Resources stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $64.23, for a total value of $1,605,750.00. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock worth $6,204,250 in the last three months. 79.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new position in shares of Continental Resources during the third quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Continental Resources during the fourth quarter valued at approximately $29,000. Logan Capital Management Inc. increased its stake in shares of Continental Resources by 90.0% during the third quarter. Logan Capital Management Inc. now owns 950 shares of the oil and natural gas company’s stock valued at $44,000 after acquiring an additional 450 shares during the period. Bellwether Advisors LLC acquired a new position in shares of Continental Resources during the fourth quarter valued at approximately $44,000. Finally, NuWave Investment Management LLC acquired a new position in shares of Continental Resources during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 13.41% of the company’s stock.

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.

See Also

Earnings History and Estimates for Continental Resources (NYSE:CLR)

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