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. As of December 31, 2021, its proved reserves were 1,645 million barrels of crude oil equivalent (MMBoe) with proved developed reserves of 908 MMBoe. The company was founded in 1967 and is headquartered in Oklahoma City, Oklahoma.
Continental Resources Price Performance
Shares of CLR traded up $1.69 during mid-day trading on Friday, reaching $66.51. The stock had a trading volume of 1,089,899 shares, compared to its average volume of 1,104,440. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 0.15 and a beta of 2.52. Continental Resources has a 12 month low of $32.15 and a 12 month high of $75.49. The business has a fifty day moving average of $66.82 and a 200 day moving average of $61.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.93 and a current ratio of 0.99.
Continental Resources (NYSE:CLR - Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The oil and natural gas company reported $3.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.05 by $0.42. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Continental Resources had a net margin of 37.73% and a return on equity of 40.32%. The company's revenue was up 114.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Equities analysts predict that Continental Resources will post 11.91 EPS for the current year.
Continental Resources Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be given a $0.28 dividend. The ex-dividend date is Friday, August 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.68%. Continental Resources's payout ratio is currently 13.91%.
Analyst Upgrades and Downgrades
CLR has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Continental Resources from $77.00 to $73.00 in a report on Friday, July 29th. StockNews.com cut shares of Continental Resources from a "buy" rating to a "hold" rating in a report on Tuesday, May 10th. Susquehanna Bancshares boosted their price objective on shares of Continental Resources from $61.00 to $66.00 in a report on Monday, April 25th. Credit Suisse Group set a $78.00 price objective on shares of Continental Resources in a report on Monday, June 20th. Finally, Raymond James boosted their price objective on shares of Continental Resources from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, April 25th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $69.29.