In the latest trading session, Continental Resources closed at $65.66, marking a +0.47% move from the previous day. This move lagged the S&P 500's daily gain of 1.06%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 0.4%.
Heading into today, shares of the independent oil and gas company had lost 3.33% over the past month, outpacing the Oils-Energy sector's loss of 14.41% and the S&P 500's loss of 8.3% in that time.
Wall Street will be looking for positivity from Continental Resources as it approaches its next earnings report date. In that report, analysts expect Continental Resources to post earnings of $2.39 per share. This would mark year-over-year growth of 162.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, up 110.03% from the year-ago period.
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.
Any recent changes to analyst estimates for Continental Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.35% higher. 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 5.36. For comparison, its industry has an average Forward P/E of 4.14, which means Continental Resources is trading at a premium to the group.
Meanwhile, CLR's PEG ratio is currently 0.15. 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 0.22 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 27, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CLR in the coming trading sessions, be sure to utilize 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 $65.66, marking a +0.47% move from the previous day. This move lagged the S&P 500's daily gain of 1.06%. At the same time, the Dow added 1.05%, and the tech-heavy Nasdaq gained 0.4%.
Heading into today, shares of the independent oil and gas company had lost 3.33% over the past month, outpacing the Oils-Energy sector's loss of 14.41% and the S&P 500's loss of 8.3% in that time.
Wall Street will be looking for positivity from Continental Resources as it approaches its next earnings report date. In that report, analysts expect Continental Resources to post earnings of $2.39 per share. This would mark year-over-year growth of 162.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, up 110.03% from the year-ago period.
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.
Any recent changes to analyst estimates for Continental Resources should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.35% higher. 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 5.36. For comparison, its industry has an average Forward P/E of 4.14, which means Continental Resources is trading at a premium to the group.
Meanwhile, CLR's PEG ratio is currently 0.15. 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 0.22 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 27, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CLR in the coming trading sessions, be sure to utilize Zacks.com.