In the latest trading session, Continental Resources closed at $48.95, marking a +0.87% move from the previous day. The stock lagged the S&P 500's daily gain of 0.98%.
Prior to today's trading, shares of the independent oil and gas company had gained 4.21% over the past month. This has lagged the Oils-Energy sector's gain of 7.14% and outpaced the S&P 500's gain of 2.57% in that time.
Investors will be hoping for strength from CLR as it approaches its next earnings release, which is expected to be November 3, 2021. In that report, analysts expect CLR to post earnings of $1.20 per share. This would mark year-over-year growth of 850%. Meanwhile, our latest consensus estimate is calling for revenue of $1.4 billion, up 102.63% from the prior-year quarter.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $4.31 per share and revenue of $5.46 billion. These results would represent year-over-year changes of +468.38% and +111.05%, respectively.
Any recent changes to analyst estimates for CLR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.24% higher. CLR is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, CLR is currently trading at a Forward P/E ratio of 11.26. Its industry sports an average Forward P/E of 10.53, so we one might conclude that CLR is trading at a premium comparatively.
Also, we should mention that CLR has a PEG ratio of 0.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.47 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 3, putting it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Continental Resources (CLR) Gains But Lags Market: What You Should Know
In the latest trading session, Continental Resources closed at $48.95, marking a +0.87% move from the previous day. The stock lagged the S&P 500's daily gain of 0.98%.
Prior to today's trading, shares of the independent oil and gas company had gained 4.21% over the past month. This has lagged the Oils-Energy sector's gain of 7.14% and outpaced the S&P 500's gain of 2.57% in that time.
Investors will be hoping for strength from CLR as it approaches its next earnings release, which is expected to be November 3, 2021. In that report, analysts expect CLR to post earnings of $1.20 per share. This would mark year-over-year growth of 850%. Meanwhile, our latest consensus estimate is calling for revenue of $1.4 billion, up 102.63% from the prior-year quarter.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $4.31 per share and revenue of $5.46 billion. These results would represent year-over-year changes of +468.38% and +111.05%, respectively.
Any recent changes to analyst estimates for CLR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.24% higher. CLR is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, CLR is currently trading at a Forward P/E ratio of 11.26. Its industry sports an average Forward P/E of 10.53, so we one might conclude that CLR is trading at a premium comparatively.
Also, we should mention that CLR has a PEG ratio of 0.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.47 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 3, putting it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.