CLR - Continental Resources, Inc.

NYSE - NYSE Delayed Price. Currency in USD
14.99
+0.58 (+4.02%)
At close: 4:00PM EDT

14.99 +0.01 (0.07%)
After hours: 7:53PM EDT

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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close14.41
Open14.74
Bid14.95 x 1200
Ask14.98 x 1400
Day's Range14.34 - 15.15
52 Week Range6.90 - 43.57
Volume4,643,927
Avg. Volume7,524,498
Market Cap5.474B
Beta (5Y Monthly)2.02
PE Ratio (TTM)7.17
EPS (TTM)2.09
Earnings DateAug 03, 2020 - Aug 07, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateFeb 06, 2020
1y Target Est16.26
  • GuruFocus.com

    Insider Buying at Carrier, Greenbrier and Zion

    3 CEOs took million-dollar bites of their own cooking in May Continue reading...

  • Thomson Reuters StreetEvents

    Edited Transcript of CLR earnings conference call or presentation 11-May-20 4:00pm GMT

    Q1 2020 Continental Resources Inc Earnings Call

  • Reuters

    Continental Resources pushes for regulatory action at North Dakota hearing

    Continental Resources, one of the largest U.S. shale oil producers, on Wednesday urged North Dakota energy regulators to intervene to help stabilize the state's oil market through steps such as limiting output or restricting flaring of unwanted natural gas. Continental, the state's largest producer, argued at a hearing that operators are hurting even though state production is down more than half a million barrels per day (bpd) since prices crashed in March. "North Dakota can be a leader as far as action is concerned," said Blu Hulsey, Continental's vice president of government relations, adding the state does not need "to take large action to make a difference."

  • Continental (CLR) Q1 Earnings Miss Estimates, Revenues Beat
    Zacks

    Continental (CLR) Q1 Earnings Miss Estimates, Revenues Beat

    Lower oil equivalent price realizations hurt Continental's (CLR) Q1 earnings.

  • Top Oil Stocks After The Coronavirus Crash: Here Are U.S. Shale, Market Cap Leaders
    Investor's Business Daily

    Top Oil Stocks After The Coronavirus Crash: Here Are U.S. Shale, Market Cap Leaders

    When weighing oil stocks to buy, consider which ones are diversified and which are focused more on shale or particular regions.

  • U.S. Shale Oil Q1 Earnings Are All In: Here's How They Did
    Zacks

    U.S. Shale Oil Q1 Earnings Are All In: Here's How They Did

    Missed the slew of shale oil earnings? Here's a quick run-through of how some of the bigwigs fared in their first-quarter earnings reports.

  • GuruFocus.com

    2 Stocks to Watch Monday

    Shares of Cardinal Health rise, while Continental Resources falls Continue reading...

  • Continental Resources Inc (CLR) Q1 2020 Earnings Call Transcript
    Motley Fool

    Continental Resources Inc (CLR) Q1 2020 Earnings Call Transcript

    Other members of management will be available for Q&A, including Jack Stark, President and Chief Operating Officer; and John Hart, Chief Financial Officer. Today's call will contain forward-looking statements that address projections assumptions and guidance.

  • Top Shale Producer Stops Almost All Fracking As Rival Warns On 'Going Concern'
    Investor's Business Daily

    Top Shale Producer Stops Almost All Fracking As Rival Warns On 'Going Concern'

    Shale giant Continental Resources curbed its activity further, while Saudi Arabia announced surprise moves to try and boost oil prices.

  • Oilprice.com

    More Shale Giants Forced To Cut Production As Oil Price Crisis Persists

    The big oil production curtailment in the U.S. shale patch continues as more companies announced on Monday output reductions to protect their balance sheets in the face of unsustainably low oil prices

  • Continental Sees Imminent Oil Recovery While Shutting Output
    Bloomberg

    Continental Sees Imminent Oil Recovery While Shutting Output

    (Bloomberg) -- Shale driller Continental Resources Inc. expects an imminent recovery in crude prices even as it undertakes some of the most aggressive production cuts in an industry crippled by tumbling oil prices.The Oklahoma City-based company founded by billionaire wildcatter Harold Hamm is forecasting a rebalancing of crude supply and demand around the middle of the year, executives said during a conference call on Monday. The comments came just hours after Continental discarded its full-year financial guidance and said it was turning off some drilling rigs.Continental is waiting for the oil market to recover before reopening wells it shut in response to an unprecedented slump in prices. “We’re preserving the production capacity for what we believe will be a imminently better commodity price for us,” Chief Financial Officer John Hart said during the call.The company also reported a $1.13 billion draw on its credit facilities and bought back 8.1 million shares during the quarter, according to a regulatory filing. When asked about the drawdown, the company said it was worried about bankers working from home and wanted to avoid “hiccups in the system.”“We decided to go ahead and have a little bit of a cash on hand just ahead of time,” Hart said. Continental shares fell 2.9% to $14.66 at 1:57 p.m. in New York trading.Shutting WellsThree weeks after U.S. oil prices went negative for the first time, oil producers are moving beyond drilling hiatuses and taking the once-rare step of scaling back existing output.Rystad Energy said last week that U.S. producers have announced plans to halt more than 600,000 barrels of daily output this month and next. Continental initially had plans to cut output by 30% to mirror the collapse in demand caused by the Covid-19 pandemic but has since doubled down on those efforts.Callon Petroleum Co., which closed on its $737 million acquisition of rival Carrizo Oil & Gas Inc. less than five months ago, said Monday it’s shutting off more than 3,000 barrels of daily output. The shale explorer also halted all fracking as of last month and will have just one rig active by the middle of this month.Callon said in a federal filing that for now it has sufficient liquidity, but it may be forced to issue a “going concern” warning if lenders reduce its borrowing base too much. The company also canceled its quarterly earnings conference call with analysts and investors.EOG Resources Inc., the world’s second-largest independent oil explorer by market value, said last week that it’s curtailing about one-fourth of its production and canceling almost 40% of new wells it had planned to bring online this year.Producers say much of that output will return once prices pick up, though some have cautioned that turning wells back on is more complicated than shutting them in. They’re also creating a backlog of wells that are drilled but not yet fracked that can be revisited if and when oil prices recover.Still, Hamm said that U.S. oil production won’t grow in the future at the same pace that it did before the pandemic.“The market share capture-rate that the U.S. was pursuing in the past was probably not sustainable,” Hamm said. “I would expect to see those growth rates attenuate in the U.S. over the next few years.”(Updates with comments from Continental’s conference call beginning in first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Continental Resources (CLR) Reports Q1 Loss, Tops Revenue Estimates
    Zacks

    Continental Resources (CLR) Reports Q1 Loss, Tops Revenue Estimates

    Continental Resources (CLR) delivered earnings and revenue surprises of -166.67% and 0.93%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

  • Why These 3 Oil Stocks Skyrocketed More Than 80% in April
    Motley Fool

    Why These 3 Oil Stocks Skyrocketed More Than 80% in April

    Shares of oil companies Devon Energy (NYSE: DVN), Continental Resources (NYSE: CLR), and Apache (NYSE: APA) rose more than 80% in April, according to data provided by S&P Global Market Intelligence. Meanwhile, Continental's share price more than doubled, up 114% to close the month at $16.39/share. For investors who bought in after the oil price crash of early March, these three oil producers have delivered handsome returns.

  • Business Wire

    ATTENTION CONTINENTAL RESOURCES EMPLOYEES/INVESTORS: KlaymanToskes Commences Investigation Into Damages Sustained During Coronavirus Pandemic in Continental Resources Stock With Full-Service Brokerage Firms

    KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating the damages sustained during the Coronavirus ("COVID-19") pandemic by employees and investors who held large positions in Continental Resources (NYSE:CLR) stock at full-service brokerage firms. Investment portfolios holding large positions can carry significant downside risks. The investigation focuses on full-service brokerage firms’ negligence and mismanagement of large positions that resulted in employees and investors suffering substantial losses.

  • Barrons.com

    10 Energy Company Bonds That Could Reward Investors

    The debt of energy companies such as Occidental Petroleum, Marathon Oil, Parsley Energy, and Continental Resources yields more than 8% and offers an attractive alternative to beaten-up oil and gas shares. Gaining an edge over Warren Buffett

  • Oil Prices Jump As U.S. Crude Production Continues Free Fall, Inventory Gains Slow
    Investor's Business Daily

    Oil Prices Jump As U.S. Crude Production Continues Free Fall, Inventory Gains Slow

    Oil prices rose as positive coronavirus drug news lifted hopes for an earlier economic recovery while U.S. output fell further.

  • Earnings Season Will Be A Bloodbath For Oil Producers
    Oilprice.com

    Earnings Season Will Be A Bloodbath For Oil Producers

    Oil crashed again at the start of the week as the prospect of negative prices for the WTI June contract becomes increasingly realistic

  • How Does Continental Resources's (NYSE:CLR) P/E Compare To Its Industry, After Its Big Share Price Gain?
    Simply Wall St.

    How Does Continental Resources's (NYSE:CLR) P/E Compare To Its Industry, After Its Big Share Price Gain?

    Continental Resources (NYSE:CLR) shareholders are no doubt pleased to see that the share price has bounced 48% in the...

  • Shale Giant Stops Most Drilling As U.S. Oil Rig Wipeout Worsens
    Investor's Business Daily

    Shale Giant Stops Most Drilling As U.S. Oil Rig Wipeout Worsens

    Continental Resources reportedly stopped nearly all drilling in the Bakken after oil prices went negative earlier this week.

  • Continental Resources Changes its Annual Shareholders Meeting to a Virtual Format
    PR Newswire

    Continental Resources Changes its Annual Shareholders Meeting to a Virtual Format

    Continental Resources, Inc. (NYSE: CLR) ("Continental" or the "Company") today announced that, due to the public health and safety concerns related to the coronavirus (COVID-19) pandemic and recommendations and orders from federal and Oklahoma authorities, the location of its annual meeting has been changed to a virtual format.

  • This Oil Price Rebound Is Only Temporary
    Oilprice.com

    This Oil Price Rebound Is Only Temporary

    While oil prices have rebounded from the record lows they hit last week, the rebound is likely to only be temporary as more bearish news piles up

  • U.S. government may take stakes in U.S. energy companies
    MarketWatch

    U.S. government may take stakes in U.S. energy companies

    The White House is mulling taking stakes in U.S. energy companies in return for help so companies can survive the coronavirus pandemic, Treasury Secretary Steven Mnuchin said Friday.

  • Those Mnuchin Fracker Loans Look More Like Equity
    Bloomberg

    Those Mnuchin Fracker Loans Look More Like Equity

    (Bloomberg Opinion) -- Someone should tell Treasury Secretary Steven Mnuchin about the United States Oil Fund LP. This is the ETF making all the headlines for all the wrong reasons of late. A nominally cheap and easy way to speculate on oil, its use of rolling futures positions made for dreadful returns and, most recently, almost certainly contributed to oil’s plunge into negative pricing. It seems likely more than one retail wannabe wildcatter is mystified as to why they ended up effectively paying others to take their “barrels.”Knowing what you’re actually getting is important with any investment, of course. Which brings us to Mnuchin’s musings about extending government loans to struggling oil and gas producers, as reported by Bloomberg News on Thursday evening. Like USO owners, the lenders here — hello taxpayers — may find their collateral somewhat slippery. Also like the USO, their mere presence could make things worse.Details are scant; there is talk of investment-grade firms maybe tapping a Federal Reserve lending program while “alternative structures” are considered for the riskier sort. But I was struck most by this line in the article:The administration is also considering taking financial stakes in exchange for some loans, and some firms might be asked to reduce production, the person said.Hmm. “Loans” that grant you a stake and a say in critical operational decisions. That almost sounds like equity.There’s a reason for that. It is common for the riskiest exploration and production companies to only have one slug of secured financing in the form of reserve-based lending. This is a credit line from a consortium of banks secured against the value of the company’s oil and gas reserves. The value is typically reappraised twice a year, and energy prices are obviously a huge variable. You can imagine even one day of negative oil prices doesn’t make for a warm and fuzzy meeting with your account manager. The vast majority of respondents to a sector survey conducted by the law firm Haynes and Boone LLP expected borrowing bases to be cut by at least 20%. And that survey was conducted last month.After a decade of applying the WeWork growth model to oil and gas, the industry has very little wiggle room. A wall of debt maturities is imminent, kicking in just as most production hedges roll off. So those credit lines may well be needed to cover repayments. Even a small cut could leave E&P firms exposed or in outright breach of covenants. Such considerations lay behind Whiting Petroleum Corp.’s decision to file for bankruptcy at the beginning of the month, as analysts at CreditSights laid out in a recent report.For many firms, once you get beyond reserve-based lending, there’s precious little else to lend against. The capital stack is highly encumbered already. At almost 80%, energy high-yield issuers tracked by CreditSights have the highest proportion of net debt in their enterprise value of any major sector.You may notice things looked much better in 2016. Oil crashed that year, too, but investors still had hope then of oil prices coming back. E&P companies took full advantage with a banner year for equity issuance. Fast forward, and investors have been backing away from the sector, especially its most indebted members, way before Covid-19 went global and Saudi Arabia and Russia went postal. A fresh source of capital must be found.So it makes perfect sense that the government “loans” being touted around Washington look more like equity, because that’s what they would be, in practical terms. And the feds would be taking a position in E&P companies at a particularly bracing juncture, with oil prices in the tank and debt maturities rolling in. Exactly what they — I mean, we — would be taking on is something of a mystery, given the lack of clarity about oil demand, prices and production even six months out.Moreover, loans to the weakest E&P firms would perpetuate the underlying condition afflicting the sector before Covid-19 hit: too much production and too little risk management. If there’s too much oil, it’s less than optimal to put more money into the business of producing more oil. How about a government debtor-in-possession facility instead?At such times, we are lucky to have Continental Resources Inc. to exemplify the industry chutzpah of which, unlike cash, there is seemingly never a shortage. Having not bothered with boring stuff like hedging, founder Harold Hamm has alleged manipulation on the part of everyone from Saudi Arabia to “a flawed new computer model.” In the latest twist, Continental has reportedly invoked force majeure on a delivery contract for its oil — and honestly, caught on the wrong side of a price move, who hasn’t blamed God on occasion?Similarly, President Donald Trump’s administration has been throwing fistfuls of spaghetti at the wall to bail out oil and gas producers, ranging from threats of tariffs on foreign barrels to the notion of paying E&P firms to keep oil in the ground and rebranding it as a strategic reserve. Equity dressed up as loans would represent a further step down this path. God knows if it will actually happen, especially if House Democrats have a say. But like the hapless ETF investor, you may soon be the (proud?) quasi-owner of something to do with oil.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TheStreet.com

    Continental Resources Declares Force Majeure as Coronavirus Tanks Oil Prices

    Continental Resources invokes force majeure on at least one of its oil delivery contracts after oil prices collapsed.

  • U.S. oil firm Continental Resources halts shale output, seeks to cancel sales
    Reuters

    U.S. oil firm Continental Resources halts shale output, seeks to cancel sales

    Continental Resources Inc , the company controlled by billionaire Harold Hamm, stopped all drilling and shut in most of its wells in the state's Bakken shale field, three people familiar with production in the state said on Thursday. Global oil prices have plunged because of excess supplies and tumbling demand due to the coronavirus crisis. U.S. crude prices plunged into negative territory this week - meaning suppliers had to pay people to take oil - due to lack of storage space, prompting moves by operators to halt output.