CPE, CLR & EOG valuations increased - Feb 12

[dan_s]

I decided to take a closer look at these three because they have the most exposure to rising oil prices.

My new valuations.
Callon Petroleum (CPE) +4 to $25.00
Continental Resources (CLR) +1.50 to $27.50
EOG Resources (EOG) +2.50 to $80.50

Callon has a lot more upside if their 2021 guidance confirms my 2021 forecast assumptions because it will cause me to raise the valuation multiplier. I was using a very low multiple of operating cash flow to value CPE because there was still a small chance of the creditors cutting off their liquidity if WTI stayed below $50/bbl.

At current oil and gas prices, all of the valuations will be going higher once I see their Q4 results and 2021 guidance.