Continental Resources closed at $44.94 in the latest trading session, marking a -1.3% move from the prior day. This move lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the independent oil and gas company had lost 8.99% over the past month, lagging the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.87% in that time.
Wall Street will be looking for positivity from Continental Resources as it approaches its next earnings report date. On that day, Continental Resources is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 839.13%. Meanwhile, our latest consensus estimate is calling for revenue of $1.69 billion, up 101.99% from the prior-year quarter.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $4.60 per share and revenue of $5.53 billion. These results would represent year-over-year changes of +493.16% and +113.9%, respectively.
Any recent changes to analyst estimates for Continental Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.24% higher. Continental Resources is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Continental Resources has a Forward P/E ratio of 9.77 right now. Its industry sports an average Forward P/E of 8.78, so we one might conclude that Continental Resources is trading at a premium comparatively.
It is also worth noting that CLR currently has a PEG ratio of 0.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.37 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Continental Resources (CLR) Stock Sinks As Market Gains: What You Should Know
Continental Resources closed at $44.94 in the latest trading session, marking a -1.3% move from the prior day. This move lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the independent oil and gas company had lost 8.99% over the past month, lagging the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.87% in that time.
Wall Street will be looking for positivity from Continental Resources as it approaches its next earnings report date. On that day, Continental Resources is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 839.13%. Meanwhile, our latest consensus estimate is calling for revenue of $1.69 billion, up 101.99% from the prior-year quarter.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $4.60 per share and revenue of $5.53 billion. These results would represent year-over-year changes of +493.16% and +113.9%, respectively.
Any recent changes to analyst estimates for Continental Resources should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.24% higher. Continental Resources is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Continental Resources has a Forward P/E ratio of 9.77 right now. Its industry sports an average Forward P/E of 8.78, so we one might conclude that Continental Resources is trading at a premium comparatively.
It is also worth noting that CLR currently has a PEG ratio of 0.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.37 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.