Continental Resources closed the most recent trading day at $66.67, moving +1.28% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.45%. Elsewhere, the Dow gained 2.15%, while the tech-heavy Nasdaq added 0.18%.
Heading into today, shares of the independent oil and gas company had gained 4.1% over the past month, outpacing the Oils-Energy sector's loss of 9.07% and the S&P 500's loss of 5.71% in that time.
Investors will be hoping for strength from Continental Resources as it approaches its next earnings release. On that day, Continental Resources is projected to report earnings of $2.95 per share, which would represent year-over-year growth of 224.18%. Meanwhile, our latest consensus estimate is calling for revenue of $2.59 billion, up 110.03% from the prior-year quarter.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $12.19 per share and revenue of $10.18 billion. These results would represent year-over-year changes of +161.59% and +78.05%, respectively.
Investors should also note any recent changes to analyst estimates for Continental Resources. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.21% higher. Continental Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Continental Resources is currently trading at a Forward P/E ratio of 5.4. Its industry sports an average Forward P/E of 4.65, so we one might conclude that Continental Resources is trading at a premium comparatively.
Meanwhile, CLR's PEG ratio is currently 0.15. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.22 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Continental Resources (CLR) Gains But Lags Market: What You Should Know
Continental Resources closed the most recent trading day at $66.67, moving +1.28% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.45%. Elsewhere, the Dow gained 2.15%, while the tech-heavy Nasdaq added 0.18%.
Heading into today, shares of the independent oil and gas company had gained 4.1% over the past month, outpacing the Oils-Energy sector's loss of 9.07% and the S&P 500's loss of 5.71% in that time.
Investors will be hoping for strength from Continental Resources as it approaches its next earnings release. On that day, Continental Resources is projected to report earnings of $2.95 per share, which would represent year-over-year growth of 224.18%. Meanwhile, our latest consensus estimate is calling for revenue of $2.59 billion, up 110.03% from the prior-year quarter.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $12.19 per share and revenue of $10.18 billion. These results would represent year-over-year changes of +161.59% and +78.05%, respectively.
Investors should also note any recent changes to analyst estimates for Continental Resources. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.21% higher. Continental Resources is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Continental Resources is currently trading at a Forward P/E ratio of 5.4. Its industry sports an average Forward P/E of 4.65, so we one might conclude that Continental Resources is trading at a premium comparatively.
Meanwhile, CLR's PEG ratio is currently 0.15. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.22 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.