Thursday, Continental Resources Inc. (CLR) said its third-quarter net income dipped to $34.9 million or $0.21 per share from $105.3 million or $0.62 per share in the prior year period. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share for the quarter.
Total revenues for the quarter declined to $170.20 million from $293.60 million in the comparable period. Eleven analysts estimated revenues of $171.14 million for the quarter.
In a separate press release, the company said it has promoted Jeffrey Hume to President and Chief Operating Officer of the company. He has served as COO since October 2008. Prior to his promotion to COO, Hume served as Senior Vice President of Operations. The company noted that Hamm will continue to exercise an active operating management role as Chairman and Chief Executive Officer.
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