Eye-Catching Stock: Continental Resources Inc. (NYSE: CLR)

On Friday, Shares of Continental Resources Inc. (NYSE: CLR) rose 0.95% to $49.85. The stock traded total volume of 1,389,670 shares lower than the average volume of 2.48M shares.

Continental Resources, Inc. (CLR) (the Company) recently declared full-year 2018 and fourth quarter 2018 operating and financial results.

The Company stated full-year 2018 net income of $988.30M, or $2.64 per diluted share. The Company’s net income includes certain items typically excluded by the investment community in published estimates, the result of which is referred to as “adjusted net income.” Typically excluded items in aggregate represented $77.90M, or $0.20 per diluted share. Adjusted net income for full-year 2018 was $1.070B, or $2.84per diluted share (non-GAAP). Net cash offered by operating activities for full-year 2018 was $3.460B and EBITDAX was $3.620B (non-GAAP).

The Company stated net income of $197.70M, or $0.53 per diluted share, for the quarter ended December 31, 2018. In fourth quarter 2018, typically excluded items in aggregate represented $3.90M, or $0.01 per diluted share, of Continental’s stated net income. Adjusted net income for fourth quarter 2018 was $201.70M, or $0.54 per diluted share (non-GAAP). Net cash offered by operating activities for fourth quarter 2018 was $955.30M and EBITDAX was $850.60M (non-GAAP).

Financial Update:

As of December 31, 2018, the Company’s balance sheet included about $282.70M in cash and cash equivalents, $5.770B in total debt and $5.490B in net debt (non-GAAP). The Company anticipates further reducing net debt to $50B late in 2019.

Non-acquisition capital expenditures for full-year 2018 totaled about $2.80B, counting $2.40B in exploration and development drilling and completion, $276.40M in leasehold and minerals, and $198.80M in workovers, recompletions and other.

Non-acquisition capital expenditures for fourth quarter 2018 totaled about $742.60M, counting $611.00M in exploration and development drilling and completion, $59.00M in leasehold and minerals, and $72.60M in workovers, recompletions and other.

CLR has the market capitalization of $17.95B and its EPS growth ratio for the past five years was 5.00%. The return on assets ratio of the Company was 6.60% while its return on investment ratio stands at 10.70%. Price to sales ratio was 3.81 while 22.30% of the stock was owned by institutional investors.

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