There have been some mega trends in the market recently. The inflationary pressure has really helped the commodity complex. Whether its wheat, oil, or soybeans, things have been good for the bulls over there. It has helped to push along the stocks in commodity-related industries. No one knows how long this trend will continue, so let’s just enjoy it while it lasts.
One way I am going to enjoy it is by naming today’s Bull of the Day a stock within the oil business. I’m talking about Zacks Rank #1 (Strong Buy) Continental Resources . 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.
Continental Resources is a Zacks Rank #1 (Strong Buy) in the Oil and Gas – Exploration and Production – United States industry which ranks in the Top 7% of our Zacks Industry Rank. The reason for the favorable rank is several analysts increasing their earnings estimates for the stock. Over the last sixty days, eight analysts have increased their earnings estimates for the current year while four have followed suit for next year.
Image Source: Zacks Investment Research
The bullish sentiment has made a huge impact to our Zacks Consensus Estimates for the current year and next year. Over the last 90 days, the current year Zacks Consensus Estimate is up from $6.95 to $9.89 while next year’s number is up from $5.45 to $8.62.
Those numbers represent 112.23% EPS growth for the current year. That number is expected to slow as oil prices come back down to Earth. The revenue growth for the current year is 50.41%, while next year is expected to contract by just 4.5% to $8.22 billion.
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Bull of the Day: Continental Resources (CLR)
There have been some mega trends in the market recently. The inflationary pressure has really helped the commodity complex. Whether its wheat, oil, or soybeans, things have been good for the bulls over there. It has helped to push along the stocks in commodity-related industries. No one knows how long this trend will continue, so let’s just enjoy it while it lasts.
One way I am going to enjoy it is by naming today’s Bull of the Day a stock within the oil business. I’m talking about Zacks Rank #1 (Strong Buy) Continental Resources . 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.
Continental Resources is a Zacks Rank #1 (Strong Buy) in the Oil and Gas – Exploration and Production – United States industry which ranks in the Top 7% of our Zacks Industry Rank. The reason for the favorable rank is several analysts increasing their earnings estimates for the stock. Over the last sixty days, eight analysts have increased their earnings estimates for the current year while four have followed suit for next year.
Image Source: Zacks Investment Research
The bullish sentiment has made a huge impact to our Zacks Consensus Estimates for the current year and next year. Over the last 90 days, the current year Zacks Consensus Estimate is up from $6.95 to $9.89 while next year’s number is up from $5.45 to $8.62.
Those numbers represent 112.23% EPS growth for the current year. That number is expected to slow as oil prices come back down to Earth. The revenue growth for the current year is 50.41%, while next year is expected to contract by just 4.5% to $8.22 billion.