Surging Earnings Estimates Signal Good News for Continental Resources (CLR)
Continental Resources, Inc. CLR is an explorer and producer of oil and natural gas that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CLR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Continental Resources could be a solid choice for investors.
Current Quarter Estimates for CLR
In the past 30 days, seven estimates have gone higher for Continental Resources while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 91 cents a share 30 days ago, to $1.12 today, a move of 23.1%.
Current Year Estimates for CLR
Meanwhile, Continental Resources’ current year figures are also looking quite promising, with seven estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.14 per share 30 days ago to $3.84 per share today, an increase of 22.3%.
Continental Resources, Inc. Price and Consensus
Continental Resources, Inc. price-consensus-chart | Continental Resources, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 23.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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