CLR Adjusted Net Income beat my 4th quarter forecast.
OKLAHOMA CITY, Feb. 24, 2015 /PRNewswire/ -- Continental Resources, Inc. (CLR) ("Continental" or the "Company") today announced fourth quarter and full-year 2014 operating and financial results. Net income for the quarter ended December 31, 2014 was $114.0 million, or $0.31 per diluted share, compared with net income of $132.8 million, or $0.36 per diluted share, for the fourth quarter of 2013. Excluding items typically excluded from published analyst estimates, adjusted net income for the fourth quarter of 2014 was $420.8 million, or $1.14 per diluted share, an 84% increase over adjusted net income of $228.1 million, or $0.62 per diluted share, for the fourth quarter of 2013.
Net income for full-year 2014 was $977.3 million, or $2.64 per diluted share, compared with net income of $764.2 million, or $2.07 per diluted share, for full-year 2013. Excluding items typically excluded from published analyst estimates, adjusted net income for full-year 2014 was $1.27 billion, or $3.43 per diluted share, a 29% increase over adjusted net income of $986.1 million, or $2.67 per diluted share, for full-year 2013.
CLR
Re: CLR
Reiterate Buy from Stifel on 2-25-2015
"We continue to see long-term upside potential should oil move toward our 2016
forecast of $65/bl and long-term forecast of $80/bl. We expect lower costs and
high-grading during 2015 to drive continued operational efficiencies and boost well
economics. As such, we reiterate our Buy rating and $55 target price."
"We continue to see long-term upside potential should oil move toward our 2016
forecast of $65/bl and long-term forecast of $80/bl. We expect lower costs and
high-grading during 2015 to drive continued operational efficiencies and boost well
economics. As such, we reiterate our Buy rating and $55 target price."
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: CLR
I have updated my CLR forecast. It will be on the EPG website this afternoon.
My Fair Value Estimate increased $0.40 to $54.20.
> Q1 and Q2 EPS will be near zero, but cash flows will remain strong and should cover their capex
> Production and EPS should ramp up in Q3
> Drilling & completion costs per well are dropping fast
> SCOOP looking better and better
> Cash Flow From Operations s/b over $2 Billion
> CLR has a strong balance sheet and more than enough liquidity to fund their reduced capex program
We will publish an updated profile on CLR next week.
My Fair Value Estimate increased $0.40 to $54.20.
> Q1 and Q2 EPS will be near zero, but cash flows will remain strong and should cover their capex
> Production and EPS should ramp up in Q3
> Drilling & completion costs per well are dropping fast
> SCOOP looking better and better
> Cash Flow From Operations s/b over $2 Billion
> CLR has a strong balance sheet and more than enough liquidity to fund their reduced capex program
We will publish an updated profile on CLR next week.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group