Continental Resources: 3Q Earnings Snapshot
OKLAHOMA CITY (AP) _ Continental Resources Inc. (CLR) on Wednesday reported third-quarter profit of $158.2 million.
On a per-share basis, the Oklahoma City-based company said it had net income of 43 cents. Earnings, adjusted for one-time gains and costs, were 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The independent oil and gas company posted revenue of $1.1 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $1.09 billion.
Continental Resources shares have dropped 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.59, a drop of 46% in the last 12 months.