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Continental Resources (CLR) Gains But Lags Market: What You Should Know

Continental Resources (CLR) closed the most recent trading day at $45.53, moving +0.02% from the previous trading session. This change lagged the S&P 500's 1.02% gain on the day. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, lost 0.4%.

Prior to today's trading, shares of the independent oil and gas company had lost 8.04% over the past month. This has lagged the Oils-Energy sector's of 0% and the S&P 500's loss of 0.91% in that time.

Wall Street will be looking for positivity from Continental Resources as it approaches its next earnings report date. The company is expected to report EPS of $1.70, up 839.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.63 billion, up 95.13% from the prior-year quarter.

CLR's full-year Zacks Consensus Estimates are calling for earnings of $4.60 per share and revenue of $5.49 billion. These results would represent year-over-year changes of +493.16% and +112.19%, respectively.

Investors might also notice recent changes to analyst estimates for Continental Resources. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.15% higher within the past month. Continental Resources is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Continental Resources's current valuation metrics, including its Forward P/E ratio of 9.89. Its industry sports an average Forward P/E of 8.83, so we one might conclude that Continental Resources is trading at a premium comparatively.

We can also see that CLR currently has a PEG ratio of 0.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CLR's industry had an average PEG ratio of 0.36 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 113, which puts it in the top 45% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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