Continental Resources (NYSE:CLR – Get Rating) announced its quarterly earnings data on Wednesday. The oil and natural gas company reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.10), RTT News reports. Continental Resources had a net margin of 37.73% and a return on equity of 40.32%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company earned $1.20 EPS. Continental Resources's quarterly revenue was up 82.4% on a year-over-year basis.
Continental Resources Stock Up 0.0 %
Shares of Continental Resources stock traded up $0.03 on Wednesday, hitting $73.97. 3,607,724 shares of the company traded hands, compared to its average volume of 2,090,401. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. Continental Resources has a 12-month low of $40.75 and a 12-month high of $75.49. The company has a 50-day moving average price of $70.27 and a 200 day moving average price of $66.77. The company has a market cap of $26.85 billion, a PE ratio of 9.19, a PEG ratio of 0.20 and a beta of 2.36.
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Analysts Set New Price Targets
A number of research firms recently weighed in on CLR. Mizuho increased their price objective on shares of Continental Resources from $72.00 to $74.00 and gave the stock a "neutral" rating in a report on Monday, October 24th. Barclays dropped their price target on shares of Continental Resources from $73.00 to $70.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 31st. Raymond James lowered Continental Resources from an "outperform" rating to a "market perform" rating and set a $74.00 price target for the company. in a research report on Monday, October 24th. Royal Bank of Canada cut Continental Resources from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from $75.00 to $80.00 in a research note on Wednesday, July 6th. Finally, StockNews.com started coverage on shares of Continental Resources in a research note on Wednesday, October 12th. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $70.20.
Institutional Investors Weigh In On Continental Resources
Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in Continental Resources in the first quarter worth $26,000. Acadian Asset Management LLC bought a new stake in shares of Continental Resources during the 1st quarter worth about $36,000. Atlas Capital Advisors LLC boosted its stake in shares of Continental Resources by 72.4% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,312 shares of the oil and natural gas company's stock worth $86,000 after acquiring an additional 551 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Continental Resources during the 1st quarter valued at about $98,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Continental Resources in the 1st quarter valued at approximately $117,000. 13.41% of the stock is owned by hedge funds and other institutional investors.
Continental Resources Company Profile
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Continental Resources, Inc is an independent oil producer engaged in the exploration, development, and production of crude oil and natural gas. The firm's operations include horizontal drilling and protecting groundwater. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.
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