Continental Resources (CLR) Update - July 14

[dan_s]

My current valuation is $51.00 for CLR with a 12-month price target of $60.00 is oil averages $70/bbl over the next four quarters.
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From RBC Capital

Continental Resources, Inc. (NYSE: CLR; 38.21)
Published July 13 2021 12:43:47 EDT
Rating: Sector Perform
Price Target: 40.00

Quarterly Check-Up: 2Q21
Our view: We updated our 2Q21 estimates reflecting final commodity prices and
made other changes to our model based on our channel checks, data analytics,
and conversaons with the company. CLR's unhedged oil position and high
margins provide among the best exposure to robust oil prices. This accelerates
debt reduction and puts several shareholder return options on the table. By
early 2022, management could provide a multi-year outlook demonstrating the
commitment to discipline/FCF generation. < Based on their words, I think RBC will increase their price target if CLR's Q2 results and guidance confirms their forecast model.

[Fraser921]

I added today...I like the unhedged oil and cash flow will be upsized

[dan_s]

Take a look at MNRL. None of their production is hedged and they have steady production growth locked in.

[Fraser921]

Look who has been adding to his substantial position

https://app.quotemedia.com/data/downloa ... &CK=732834

and some more

https://app.quotemedia.com/data/downloa ... &CK=732834

a cool 10 m.. Do you think he was buying when it hit $32 on Monday?

[dan_s]

Harold is a wealthy man and he definitely believes in his company and that oil prices are going higher.