CLR - Why Continental Resources Stock Is Tumbling Today
Shares of Continental Resources (NYSE: CLR) had slumped more than 10% by 10:30 a.m. ET on Tuesday. The primary issue weighing on the oil company's stock was its outlook for 2022 and beyond, especially in light of falling oil prices today as the tensions between Russia and Ukraine appear to be easing.
Continental Resources reported solid fourth-quarter results. The oil producer posted $651 million, or $1.79 per share, of adjusted net income, beating the analysts' consensus estimate by $0.10 per share. It benefited from improving production and oil prices.
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Why Continental Resources Stock Is Tumbling Today