Continental Resources (CLR) Update - April 15

dan_s · Post by **dan_s** » Thu Apr 15, 2021 10:18 am

This morning I updated my forecast/valuation model for CLR based on their recent press release. They are now on-track to meet or exceed the high end of their 2021 production guidance + higher NGL prices should give their revenues an unexpected boost.

I am increasing my current valuation by $2 to $44/share. This valuation is just 5X 2021+2022 operating cashflow annualized, which is a low multiple for a company of this size and strength. NONE of their oil is hedged and I think there is significant upside potential for oil prices in 2H 2021.