In the latest trading session, Continental Resources (CLR) closed at $65.21, marking a +0.69% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the independent oil and gas company had lost 10.12% over the past month. This has was narrower than the Oils-Energy sector's loss of 19.96% and lagged the S&P 500's loss of 6.03% in that time.
Continental Resources will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.95, up 224.18% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, up 110.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.19 per share and revenue of $10.18 billion, which would represent changes of +161.59% and +78.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Continental Resources. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 0.8% higher within the past month. Continental Resources currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Continental Resources is holding a Forward P/E ratio of 5.31. This represents a premium compared to its industry's average Forward P/E of 4.24.
Meanwhile, CLR's PEG ratio is currently 0.15. 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 0.21 at yesterday's closing price.
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 10, which puts it in the top 4% 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.
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Continental Resources, Inc. (CLR) : Free Stock Analysis Report
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