Continental Resources, Inc. Second Quarter Earnings Sneak Peek

Continental Resources, Inc. (NYSE:CLR) will unveil its latest earnings on Wednesday, August 3, 2011. Continental Resources, Inc. is an independent crude oil and natural gas exploration and production company with operations in the North, South and East regions of the United States.

Continental Resources, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 61 cents per share, a rise of 27.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 59 cents. For the year, analysts are projecting net income of $2.51 per share, a rise of 36.4% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported profit of 53 cents per share versus a mean estimate of net income of 54 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $371.4 million in revenue this quarter, a rise of 32.6% from the year ago quarter. Analysts are forecasting total revenue of $1.52 billion for the year, a rise of 47.6% from last year’s revenue of $1.03 billion.

Analyst Ratings: Analysts are bullish on this stock with 12 analysts rating it as a buy, none rating it as a sell and nine rating it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 43.7%, with the biggest boost coming in the most recent quarter when revenue rose 50.1% from the year earlier quarter.

Competitors to Watch: GeoResources, Inc. (NASDAQ:GEOI), Atlas Energy, Inc. (NASDAQ:ATLS), CAMAC Energy Inc (AMEX:CAK), Linn Energy, LLC (NASDAQ:LINE), QEP Resources, Inc. (NYSE:QEP), Gastar Exploration Ltd. (AMEX:GST), Whiting Petroleum Corp. (NYSE:WLL), Marathon Oil Corporation (NYSE:MRO), Encore Energy Partners LP (NYSE:ENP), and Oasis Petroleum Inc. (NYSE:OAS).

Stock Price Performance: During June 1, 2011 to July 28, 2011, the stock price had risen $5.00 (7.9%) from $63.13 to $68.13. The stock price saw one of its best stretches over the last year between June 27, 2011 and July 7, 2011 when shares rose for eight-straight days, rising 12.8% (+$7.73) over that span. It saw one of its worst periods between August 4, 2010 and August 16, 2010 when shares fell for nine-straight days, falling 12.8% (-$6.18) over that span. Shares are up $9.28 (+15.8%) year to date.

(Source: Xignite Financials)

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