OKLAHOMA CITY (AP) _ Continental Resources Inc. (CLR) on Wednesday reported fourth-quarter net income of $193.9 million.
The Oklahoma City-based company said it had profit of 53 cents per share. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The independent oil and gas company posted revenue of $1.2 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.13 billion.
For the year, the company reported profit of $775.6 million, or $2.08 per share. Revenue was reported as $4.63 billion.
Continental Resources shares have declined 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.78, a drop of 53% in the last 12 months.