Continental Resources (CLR) is up 126% YTD. If you believe oil prices are heading higher than CLR is still a BUY. NONE of its future oil production is hedged.
> Production mix is 60% crude oil & 40% natural gas and NGLs
> It has HUGE UPSIDE in SCOOP & STACK where they continue to report kick ass well results
CLR is approaching my valuation, so I took a hard look at it today. With more confidence in commodity prices moving higher, I have raised my valuation multiple to 12X operating cash flow per share (still lower than many of the Permian Basin companies). I have raised my valuation to $58.40, compared to First Call's price target of $53.47.
CLR is the best preforming stock in the Sweet 16 and it is one of the Elite Eight .
CLR = Elite Eight
CLR = Elite Eight
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group