Continental Resources (CLR) Update - Oct 15
Posted: Fri Oct 15, 2021 3:34 pm
RBC Capital: Their price target for CLR is $58.00
Quarterly Check-Up: 3Q21
Our view: CLR remains in an advantageous posion from its unhedged oil posion
and exposure to both liquids and gas weighted acvity. We expect management
to highlight its development optionality and could look to shift back toward
gas weighted activity given strong natural gas and NGL prices. The relatively
unhedged position provides CLR commodity price upside optionality.
My current valuation of CLR is $61.50, but they have a habit of beating my forecast so my valuation likely to go higher after I see Q3 results.
Quarterly Check-Up: 3Q21
Our view: CLR remains in an advantageous posion from its unhedged oil posion
and exposure to both liquids and gas weighted acvity. We expect management
to highlight its development optionality and could look to shift back toward
gas weighted activity given strong natural gas and NGL prices. The relatively
unhedged position provides CLR commodity price upside optionality.
My current valuation of CLR is $61.50, but they have a habit of beating my forecast so my valuation likely to go higher after I see Q3 results.