Continental Resources, Inc. (NYSE:CLR – Get Rating) – Equities research analysts at Capital One Financial raised their Q3 2022 earnings estimates for shares of Continental Resources in a report released on Wednesday, May 18th. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will post earnings of $3.33 per share for the quarter, up from their previous forecast of $2.50. Capital One Financial also issued estimates for Continental Resources’ Q4 2022 earnings at $3.59 EPS, FY2022 earnings at $12.83 EPS and FY2023 earnings at $11.31 EPS.
A number of other analysts also recently issued reports on CLR. Truist Financial raised their price target on Continental Resources from $80.00 to $95.00 in a research report on Thursday, April 21st. StockNews.com downgraded Continental Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. TD Securities lifted their target price on Continental Resources from $50.00 to $61.00 and gave the stock a “hold” rating in a research report on Tuesday, February 15th. Morgan Stanley lifted their target price on Continental Resources from $53.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, April 22nd. Finally, Raymond James lifted their price objective on Continental Resources from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Continental Resources presently has an average rating of “Hold” and a consensus target price of $66.58.
Continental Resources (NYSE:CLR – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The oil and natural gas company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.16 billion. Continental Resources had a return on equity of 31.43% and a net margin of 31.63%. Continental Resources’s revenue was up 49.4% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.
A number of large investors have recently made changes to their positions in the business. Smead Capital Management Inc. raised its stake in shares of Continental Resources by 18.5% during the 4th 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. BlackRock Inc. raised its stake in shares of Continental Resources by 6.5% during the 1st quarter. BlackRock Inc. now owns 3,118,624 shares of the oil and natural gas company’s stock worth $191,266,000 after buying an additional 189,822 shares during the period. State Street Corp raised its stake in shares of Continental Resources by 15.7% during the 1st quarter. State Street Corp now owns 3,023,689 shares of the oil and natural gas company’s stock worth $185,443,000 after buying an additional 410,773 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Continental Resources by 3.1% during the 3rd 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 buying an additional 61,849 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Continental Resources by 29.2% during the 4th 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 buying an additional 408,479 shares during the period. 13.41% of the stock is owned by institutional investors.
In other Continental Resources news, President Jack H. Stark sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $60.13, for a total value of $3,006,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Harold Hamm purchased 300,744 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was bought at an average cost of $59.30 per share, with a total value of $17,834,119.20. The disclosure for this purchase can be found here. Insiders have sold 100,000 shares of company stock worth $6,204,250 in the last 90 days. Insiders own 58.57% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 23rd. Stockholders of record on Monday, May 9th will be paid a dividend of $0.28 per share. This is a positive change from Continental Resources’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, May 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.87%. Continental Resources’s payout ratio is presently 20.40%.
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.
- Get a free copy of the StockNews.com research report on Continental Resources (CLR)
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