Continental Resources (CLR) Valuation Update - July 29

[dan_s]

I have updated my forecast/valuation model for CLR and it will be posted to the EPG website this afternoon.

CLR was trading at $68.69 at the time of this post. My CURRENT VALUATION is now $93.00, which is just 5X annualized operating cash flow per share.

CLR is a "Special Situation" because the BOD is evaluating an offer by Harold Hamm of $70/share. Harold says he wants to buy the 17% of the stock his family does not currently own and take the company private.

In my opinion, the BOD's only option is to open a data room and encourage other competing bids.

TipRanks: "On 7/29/2022 Continental Resources price target lowered to $85 from $97 at Truist Financial and Siebert Williams Shank & Co analyst Gabriele Sorbara reiterated a Hold rating on Continental Resources (CLR) today and set a price target of $75.00."