Continental Resources closed at $72.63 in the latest trading session, marking a -0.03% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the independent oil and gas company had gained 29.73% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.
Continental Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.92, up 220.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.61 billion, up 111.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.09 per share and revenue of $10.18 billion, which would represent changes of +159.44% and +78.05%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.72% higher within the past month. Continental Resources is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Continental Resources is holding a Forward P/E ratio of 6.01. Its industry sports an average Forward P/E of 6.15, so we one might conclude that Continental Resources is trading at a discount comparatively.
Meanwhile, CLR's PEG ratio is currently 0.17. 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. CLR's industry had an average PEG ratio of 0.29 as of yesterday's close.
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 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Continental Resources (CLR) Stock Moves -0.03%: What You Should Know
Continental Resources closed at $72.63 in the latest trading session, marking a -0.03% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the independent oil and gas company had gained 29.73% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.
Continental Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.92, up 220.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.61 billion, up 111.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.09 per share and revenue of $10.18 billion, which would represent changes of +159.44% and +78.05%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.72% higher within the past month. Continental Resources is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Continental Resources is holding a Forward P/E ratio of 6.01. Its industry sports an average Forward P/E of 6.15, so we one might conclude that Continental Resources is trading at a discount comparatively.
Meanwhile, CLR's PEG ratio is currently 0.17. 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. CLR's industry had an average PEG ratio of 0.29 as of yesterday's close.
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 16, which puts it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.