Continental Resources (CLR) Outpaces Stock Market Gains: What You Should Know
Continental Resources (CLR) closed at $51.83 in the latest trading session, marking a +0.93% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.48%.
Coming into today, shares of the independent oil and gas company had gained 16.12% in the past month. In that same time, the Oils-Energy sector gained 13.33%, while the S&P 500 gained 3.46%.
Wall Street will be looking for positivity from CLR as it approaches its next earnings report date. This is expected to be November 1, 2021. In that report, analysts expect CLR to post earnings of $1.21 per share. This would mark year-over-year growth of 856.25%. Our most recent consensus estimate is calling for quarterly revenue of $1.41 billion, up 103.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.32 per share and revenue of $5.44 billion. These totals would mark changes of +469.23% and +110.48%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CLR. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 9.65% higher within the past month. 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 11.89 right now. This represents a premium compared to its industry's average Forward P/E of 10.84.
Meanwhile, CLR's PEG ratio is currently 0.96. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.49 based on yesterday's closing prices.
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 3, which puts it in the top 2% 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.
To follow CLR in the coming trading sessions, be sure to utilize Zacks.com.
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