Continental Resources (CLR) Update - Jan 25

[dan_s]

In the last 3 months, 20 ranked analysts set 12-month price targets for CLR. The range is $49 to $88. The average price target among the analysts is $66.33.

The two most recent reports are:
Raymond James on 1/23/2019: $80.00
Barclays on 1/16/2019: $62.00

NONE of CLR's oil is hedges, which explains the extremely wide range of price targets.

My valuation is $81.00, based an average realized oil price of $50/bbl for 2019. < CLR should generate approximately $1.0 Billion of FREE CASH FLOW FROM OPERATIONS in 2019.

If you think oil prices will drift higher, then CLR should be one of your Core Holdings.

[dan_s]

Continental Resources Announces Key Upcoming Events

1. Project SpringBoard Conference Call on Tuesday, January 29, 2019 at 12:00 p.m. ET

2. 2019 Projected Capital Budget/Guidance Release on Wednesday, February 13, 2019 after Market Close

3. 4Q18 & Full-Year 2018 Earnings Release on Monday, February 18, 2019 after Market Close; Earnings Conference Call Scheduled for Tuesday, February 19, 2019 at 12:00 p.m. ET