Continental Resources, Inc (NYSE:CLR) explores for, develops, and produces crude oil and natural gas properties 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, four 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 20 cents a share 30 days ago, to 23 cents today, a move of 15%.
Current Year Estimates for CLR
Meanwhile, Continental Resources current year figures are also looking quite promising, with four 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 29 cents per share 30 days ago to 33 cents per share today, an increase of 13.8%.
Continental Resources, Inc. Price and Consensus
Continental Resources, Inc. Price and Consensus | Continental Resources, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 11.9% 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 #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>
Continental Resources, Inc. (CLR): Free Stock Analysis Report
Original post