Continental Resources (CLR) Update - Jan 15
Posted: Tue Jan 15, 2019 1:58 pm
CLR is going to report a big increase in production from Q3 to Q4: 296,904 Boepd (55.4% crude oil) in Q3 to their 2018 exit rate of 320,000 Boepd.
None of their oil is hedged, so if you agree with me that oil prices are heading higher, CLR is a "screaming buy" up to $60/share. BTW the Q4 spike in gas prices is going to offset quite a bit of the impact of lower oil prices.
First Call's price target is $64.64/share.
None of their oil is hedged, so if you agree with me that oil prices are heading higher, CLR is a "screaming buy" up to $60/share. BTW the Q4 spike in gas prices is going to offset quite a bit of the impact of lower oil prices.
First Call's price target is $64.64/share.