39.72 0.00 (0.00%)
After hours: 4:40PM EDT
|Bid||39.72 x 1000|
|Ask||39.75 x 1100|
|Day's Range||39.29 - 40.32|
|52 Week Range||34.61 - 71.95|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||15.82|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||0.20 (0.48%)|
|1y Target Est||58.92|
70+ oil & gas industry management teams will discuss 2019-2020 operations at EnerCom's 24th Denver energy investment conference DENVER , June 25, 2019 /PRNewswire/ -- The oil and gas companies presenting ...
The major U.S. stock market averages gained 2% to 3% across the board this week, as the S&P 500 index set a new record high on Thursday. Rates Likely Headed LowerThe FOMC held firm with interest rates on Wednesday, but traders are saying it’s just a matter of time before the Fed reverses its controversial rate hike from last December. Fed funds futures are now pricing in a 100% chance of a rate cut at the next meeting on July 31, up from just 18% a month ago.In reaction to the FOMC, Deutsche Bank strategists said:“Now that the Fed has all but confirmed that it will cut rates in July, the focus will turn to the depth of the easing cycle. We have addressed this issue last week and concluded that relative to recent history, initial domestic conditions were consistent with a shallow cycle. On the other hand, the nature of the current shock (trade war) is different from the usual domestically driven recession. This makes geopolitical risks potentially more relevant than the Fed for growth and inflation. As such, the evolution of the geopolitical risk will be critical in determining the depth of the easing cycle. More immediately, one could assume that the Fed is comfortable with insurance cuts of 50-75bp and ready to embark in a more aggressive easing cycle if the geopolitical tensions lead to a more significant economic downturn.” Looking OverseasWhile none of the world’s major central banks cut interest rates this week, statements out of England, the EU, and Japan echoed the dovish statement that Chairman Powell and the FOMC issued on Wednesday.Beyond interest rates, President Trump said on Tuesday that he will have an extended meeting with China’s President Xi, ahead of the G20 summit at the end of the month.Any deal on that front would likely be welcome news to folks on both sides of the Pacific Ocean. Just Friday, reports were circulating that the U.S. had barred some Chinese computing firms from buying components.It’s worth noting that other areas of the market are edging up, outside of stocks. Crude oil gained 9% this week, as tensions mounted with Iran, and the price of gold also touched a five-year high.Knowing what and when to buy can be challenging for any investor. However, the fact remains that attractive investments are out there, if you’re willing to dig a little deeper.One such energy name that’s worth a closer look is our Stock of the Week below… Stock of the Week: Continental Resources (CLR)Continental Resources is an oil (60% of business) and natural gas (40% of business) exploration firm with sizable assets in the Bakken field of North Dakota and Montana, which account for more than 40% of its total 1.9 million net reservoir acres.We recently added Continental Resources to our Smart Investor portfolio and are pleased to see that shares were up 11% this week.Looking ahead, these gains should keep on coming. Here’s why: Returning Excess CashEarlier this month, the company initiated a quarterly dividend of $0.05 a share (0.5% yield). The first payout will be made in November. In addition, the Board of Directors pledged to repurchase $1 billion (24.5 million shares) worth of stock through 2020.You’re not going to be able to retire off the “starter dividend” that Continental is paying, but it’s a clear sign that management is upbeat about the future.Another positive sign: Chief Executive Officer and Chairman Harold Hamm is the largest holder of Continental, controlling about 76% of the shares outstanding. Back on June 10, it was reported that Hamm upped the ante and bought another $1.5 million worth of the company on the open market.Wall Street analysts also agree that the stock has value. The average price target by active analysts is $58.50 a share, or 43% above current levels.View CLR Price Target & Analyst Ratings DetailOne of those analysts is Morgan Stanley’s Drew Venker, who recently stated:“The key message is that the buyback takes priority over production growth because the stock is too cheap to ignore. We agree. CLR trades at a 10% discount to the oil weighted peers on 2020e EV/EBITDA, which is unjustified given its outstanding cost structure and sustainable cash returns, in our view. After the pullback, CLR trades at a compelling 4.6x 2020e EBITDA on strip ($53 WTI).”One big competitive advantage the company has relative to its peers is low production costs. Continental claims that it can post break even cash flow, even if crude oil dips below $40 a barrel. This leverage allows management to generate $325 million of incremental annual cash flow for every future $5 increase in the price per barrel of oil.Management is looking to monetize this and is projecting consistent production growth over the next five years. In the meantime, the company’s balance sheet has been improving. Net debt is expected to fall to $5 billion this year, from $7.1 billion at the end of 2015.FYI: This is just 1 of the 20+ stocks selected for the Smart Investor portfolio. That’s where we share more detailed insights on our weekly stock picks. You may also want to learn more about how we use TipRanks indicators to find stocks that are primed to outperform. Discover the Smart Investor portfolio here >> Wishing you a world of investment success!
70+ oil & gas industry management teams will discuss 2019-2020 operations at EnerCom's 24th Denver energy investment conference DENVER , June 19, 2019 /PRNewswire/ -- EnerCom has released the presentation ...
Does the June share price for Continental Resources, Inc. (NYSE:CLR) reflect what it's really worth? Today, we will...
Comstock Resources (CRK) agreed to buy Cover Park Energy for $2.2 billion. Meanwhile, Royal Dutch Shell (RDS.A) pledged to return at least $125 billion to its shareholders between 2021 and 2025.
Reputable billionaire investors such as Jim Simons, Cliff Asness and David Tepper generate exorbitant profits for their wealthy accredited investors (a minimum of $1 million in investable assets would be required to invest in a hedge fund and most successful hedge funds won't accept your savings unless you commit at least $5 million) by pinpointing […]
CEO & Chairman of Continental Resources Inc (NYSE:CLR) Harold Hamm bought 38,600 shares of CLR on 06/06/2019 at an average price of $38.76 a share.
The federal government's EIA report revealed that crude inventories rose by 6.8 million barrels for the week ending May 31 to a nearly 2-year high.
"With Energy likely to remain under 5% of the Russell 3000 and heavily weighted towards the Value indices following the Russell reconstitution this month, there is more burden on E&Ps to appeal to value investors," analysts William Thompson and Jeanine Wai told clients in a note. The largest energy stock-weighting is held by Exxon Mobil Corp. at about 1.1 percent, sitting below tech giants including Microsoft Corp. and Apple Inc. at 3.4 percent and 3.1 percent respectively.
Continental Resources' (CLR) board of directors approves a $1-billion share buyback program and quarterly dividend initiation.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
DENVER, June 5, 2019 /PRNewswire/ -- EnerCom is pleased to announce that global oil and gas giant Eni, SpA Vice President Andrew Lees will deliver the keynote luncheon address at EnerCom's The Oil & Gas Conference® on Aug. 14, 2019. Eni, SpA (NYSE:E) is an Italian global oil and gas and energy company operating in 67 countries worldwide, with 30,000 employees in upstream, midstream and downstream operations.
Harold Hamm, 73, is a multi-billionaire, a major Republican donor, and a pioneer in shale drilling in the Bakken formation (located in North Dakota, Montana and adjacent parts of Canada). Hamm has a big appetite for the stock of Continental Resources Inc. (CLR), the oil-and-gas company he runs. Warning! GuruFocus has detected 1 Warning Sign with CONN.
Help is on the way for shareholders of the oil-and-gas exploration and production company, with the introduction of a capital-return program.
were soaring Tuesday after the oil and gas company announced a new share buyback program and new dividend. The Oklahoma City-based company initiated a quarterly dividend of 5 cents per share, payable on Nov. 21, to shareholders of record on Nov. 7. The company also announced a share repurchase program of $1 billion beginning in the second quarter of 2019 and continuing through 2020.
Shares of Continental Resources Inc. rocketed 13.1% in morning trade Tuesday, putting them on track for the biggest one-day gain in 2 1/2 years, after the oil producer initiated paying a dividend and implemented a $1 billion stock repurchase program. The rally comes after the stock closed Friday at the lowest level since September 2017. The company said late Monday that it will pay a quarterly dividend of 5 cents a share, payable on Nov. 21 to stockholders of record on Nov. 7. Based on current share prices, the new annual dividend rate implies a yield of 0.51%, compared with the yield on the SPDR Energy Select Sector ETF of 3.43% and the implied yield on the S&P 500 of 2.08%. And the share repurchase program, which will begin in the second quarter and continue through 2020, could represent up to 6.7% of the shares outstanding. "This demonstrates the confidence we have in the quality and sustainability of our assets and our commitment to maximizing shareholder value," said Chief Executive Harold Hamm. "We see the current value of our equity as being unreasonably low, making the acquisition of our stock the best use of excess cash at this time." Separately, the company said it plans to keep reducing debt, to approach $5 billion of net debt by year-end 2019. The stock has lost 12.5% over the past 12 months, while the energy ETF has lost 9.5% and the S&P 500 has slipped 0.7%.
A tech stock posted results the post-market crowd didn't like, but an energy company launched a fresh new dividend.
OKLAHOMA CITY, June 3, 2019 /PRNewswire/ -- Continental Resources, Inc. (CLR) ("Continental" or the "Company") today announced that its Board of Directors approved the initiation of a quarterly dividend of $0.05 per share ($0.20 per share annualized) on the Company's common stock and an initial $1 billion share-repurchase program. Continental maintains its 2019 guidance as announced on February 13, 2019, reaffirming the Company's commitment to its corporate objectives and a strong alignment with shareholders. "Today marks another milestone in Continental's history as we initiate a total shareholder return strategy," said Harold Hamm, Chairman and Chief Executive Officer.
With foothold in prolific unconventional U.S. plays and focus to strengthen financials, Continental Resources (CLR) is a promising investment bet.
Continental Resources (CLR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
DENVER, May 29, 2019 /PRNewswire/ -- EnerCom is pleased to announce that legendary oilman Harold G. Hamm, chairman and CEO of Continental Resources (CLR), will take the stage for a discussion about U.S. shale and look at the prospects for U.S. oil and gas exploration in a "fireside chat" Tuesday, August 13, 2019, during EnerCom's The Oil & Gas Conference® in downtown Denver's Westin hotel.
When weighing which oil stocks to buy, consider which ones are the leaders in U.S. shale or are already big players making moves in top plays like the Permian.