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Continental Resources (CLR) closed the most recent trading day at $52.18, moving +0.1% from the previous trading session. This change lagged the S&P 500's 0.34% gain on the day.
Heading into today, shares of the independent oil and gas company had gained 24.21% over the past month, outpacing the Oils-Energy sector's gain of 11.77% and the S&P 500's loss of 0.12% in that time.
Investors will be hoping for strength from CLR as it approaches its next earnings release, which is expected to be November 1, 2021. In that report, analysts expect CLR to post earnings of $1.18 per share. This would mark year-over-year growth of 837.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.38 billion, up 99.77% from the year-ago period.
CLR's full-year Zacks Consensus Estimates are calling for earnings of $4.08 per share and revenue of $5.34 billion. These results would represent year-over-year changes of +448.72% and +106.57%, respectively.
Investors might also notice recent changes to analyst estimates for CLR. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 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 3.67% higher. CLR currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that CLR has a Forward P/E ratio of 12.77 right now. This represents a premium compared to its industry's average Forward P/E of 10.44.
Also, we should mention that CLR has a PEG ratio of 1.08. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.48 at yesterday's closing price.
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 18, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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