Continental Resources Inc. (CLR) on Tuesday reported a fourth-quarter loss of $92.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had a loss of 26 cents. Losses, adjusted for non-recurring costs, came to 23 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The independent oil and gas company posted revenue of $837.6 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $769.7 million.
For the year, the company reported a loss of $596.9 million, or $1.65 per share, swinging to a loss in the period. Revenue was reported as $2.59 billion.
Continental Resources shares have increased 49% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $24.29, a fall of slightly more than 9% in the last 12 months.
—Associated Press
Helmerich & Payne Inc. (HP) on Tuesday reported a fiscal first-quarter loss of $70.4 million, after reporting a profit in the same period a year earlier.
The Tulsa-based company said it had a loss of 66 cents per share. Losses, adjusted
for non-recurring gains and to account for discontinued operations, came to 82 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 78 cents per share.
The oil and gas well-drilling contractor posted revenue of $246.4 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $241.5 million.
Helmerich & Payne shares have climbed 12% since the beginning of the year, while the Standard & Poor’s 500 index has increased 4%. In the final minutes of trading on Tuesday, shares hit $25.93, a decline of 40% in the last 12 months.
—Associated Press