Continental Resources (CLR) is off to a roaring start in 2012. In after hours trading Thursday it moved over my Fair Value estimate. This may be justified. I am expecting them to report very strong production growth.
My Fair Value estimate is based primarily on their 2011 cash flow per share. Since CFPS will be up sharply in 2012, assuming crude oil prices stay high, then my Fair Value estimate for CLR (and all of the Sweet 16) will step higher once I see Q4 results and year-end proven reserve reports. Reserve reports for the larger Bakken companies should be very impressive.
My updated forecast model for CLR is now available on the website under the Sweet 16 Tab.