OKLAHOMA CITY (AP) – Continental Resources Inc. (CLR) on Monday reported a second-quarter loss of $239.3 million, after reporting a profit in the same period a year earlier.
The Oklahoma City-based company said it had a loss of 66 cents per share. Losses, adjusted for non-recurring gains, were 71 cents per share.
The results missed Wall Street expectations. The analysts surveyed by Zacks Investment Research was for a loss of 63 cents per share.
The independent oil and gas company posted revenue of $175.7 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $253.6 million.
Continental Resources shares have declined 49% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.64, a drop of 49% in the last 12 months.