CLR - Continental Resources, Inc.

NYSE - NYSE Delayed Price. Currency in USD
34.12
+0.48 (+1.43%)
At close: 4:03PM EDT
Stock chart is not supported by your current browser
Previous Close33.64
Open33.60
Bid34.16 x 900
Ask34.25 x 800
Day's Range32.75 - 34.22
52 Week Range27.54 - 71.95
Volume2,357,066
Avg. Volume2,702,420
Market Cap12.538B
Beta (3Y Monthly)1.92
PE Ratio (TTM)13.65
EPS (TTM)2.50
Earnings DateOct 28, 2019 - Nov 1, 2019
Forward Dividend & Yield0.20 (0.59%)
Ex-Dividend Date2019-11-06
1y Target Est50.06
Trade prices are not sourced from all markets
  • Oil Stock Rally Triggers Technical Sell Signal
    Schaeffer's Investment Research

    Oil Stock Rally Triggers Technical Sell Signal

    There's also big downgrade potential weighing on CLR

  • Benzinga

    If High Oil Prices Stick Around, Consider E&P ETFs

    Oil prices giveth and taketh away as traders have experienced over the past two days. After surging Monday on the back of news of drone strikes against major Saudi Arabian oil assets, crude tumbled on Tuesday after the kingdom said it believes it can restore much of the output lost in the attacks more quickly than was initially expected. As a result of Tuesday's oil pullback, the iShares U.S. Oil & Gas Exploration & Production ETF (CBOE: IEO) slipped nearly 3% on volume that was more than seven times the daily average.

  • Barrons.com

    Oil Prices Are Coming Back Down. Energy Stocks Are Falling.

    Shares of companies that surged on Monday, such as Whiting Petroleum, are slumping. Bigger energy companies have fallen less.

  • Barrons.com

    Podcast: 46,000 General Motor Workers on Strike

    STOCKSTOWATCHTODAY BLOG Three numbers to start your day: The UAW Strike Costs (GM) $50 Million —each day, in earnings. The United Automobile Workers voted to strike on Sunday and told its roughly 46,000 members to walk out or not show up to work Monday.

  • Oil Tycoon Harold Hamm Just Got $2 Billion Richer in One Day
    Bloomberg

    Oil Tycoon Harold Hamm Just Got $2 Billion Richer in One Day

    (Bloomberg) -- Billionaire oil baron Harold Hamm just had a very big day.Shares of his Continental Resources Inc. surged 22% Monday, the most since 2016, adding $2 billion to his net worth, more than anyone else in the 500-member Bloomberg Billionaires Index.Global oil prices surged the most on record after a weekend aerial attack on Saudi Arabia’s Abqaiq oil complex crippled production, knocking out 5% of the world’s supply. A return to full operating capacity could take weeks or months.Read more: Oil jumps most on record after attack cripples Saudi productionShares of Continental had tumbled 20% on the year through Friday, a decline that was almost erased by Monday’s advance. The same is true for Hamm’s fortune, which now stands at $11.6 billion. He owns 77% of the Oklahoma City-based oil exploration and production firm.Hamm, 73, said Thursday in an interview with Bloomberg Television that he has no intention of taking Continental private, a month after he mused during a conference call whether remaining a public company was worth it.\--With assistance from Jack Witzig.To contact the reporter on this story: Emma Vickers in New York at evickers4@bloomberg.netTo contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net;Pierre Paulden at ppaulden@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Some Continental Resources (NYSE:CLR) Shareholders Have Copped A Big 53% Share Price Drop
    Simply Wall St.

    Some Continental Resources (NYSE:CLR) Shareholders Have Copped A Big 53% Share Price Drop

    We think intelligent long term investing is the way to go. But no-one is immune from buying too high. For example the...

  • Bloomberg

    Trump Meets With Oil Refining Executives Amid Talks on Biofuel

    (Bloomberg) -- President Donald Trump met Wednesday with the heads of two of the nation’s largest refiners as he seeks a deal that would boost corn-based ethanol and soy-based biodiesel without alienating oil companies required to use the products.Trump met with Marathon Petroleum Corp. chief executive Gary Heminger; Valero Energy Corp. chief executive Joe Gorder; and Harold Hamm, the founder of Continental Resources Inc., according to people familiar with the matter who asked not to be named describing private discussions. Although Hamm’s Continental is an oil producer without direct involvement in U.S. biofuel mandates, the president has long tapped the billionaire oilman’s energy expertise.White House officials are set to meet Thursday with senators from corn- and ethanol-producing states, amid deep anger in the Midwest U.S. over the Environmental Protection Agency’s decision waive some oil refineries from annual blending quotas.Administration officials have spent weeks trying to develop a suite of pro-ethanol and pro-biodiesel policy changes that would temper the angst in Iowa and other politically important Midwest U.S. states. But they’re trying to do it without prompting a backlash in the Rust Belt, even as oil industry workers and labor unions demonstrated their opposition with a rally in Toledo, Ohio, on Thursday.Ethanol manufacturers and Iowa politicians have been cool to a drafted White House plan that would give a 5% boost to biofuel-blending requirements in 2020 and are asking the administration to do more to formally account for refinery exemptions as part of the quotas. In a separate meeting Wednesday, White House officials told biofuel producers to swiftly offer alternatives to that plan, warning that they are running out of time to make changes to proposed 2020 quotas.Refining representatives, who also met with National Economic Council staff on Wednesday, are pressing the administration to find ways to constrain the cost of tradable credits known renewable identification numbers, which are used to prove they have fulfilled biofuel-blending requirements. Although refinery exemptions have driven down the cost of those compliance credits, any move to boost future quotas threatens to propel their prices again.Some refiners are advancing a plan that would allow the EPA to sell its own compliance credits whenever those RINs prices get too high. The EPA-generated credits would not be tied to actual biofuel production or blending but revenue from their sale could be steered to building out fueling infrastructure to get more ethanol to consumers.Marathon Petroleum spokesman Jamal T. Kheiry confirmed Wednesday’s meeting, saying the company “always appreciates the opportunity to share our thoughts with elected officials on policies that can impact our business and consumers who rely on our products.”Asked about Hamm’s involvement, Kristin Thomas, a senior vice president with Continental Resources, said: “Mr. Hamm is supportive of the president and his positive impact on American energy.”Representatives for Valero did not immediately respond to requests for comment.(Updates with more details on White House meetings from third paragraph.)\--With assistance from Josh Wingrove.To contact the reporters on this story: Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net;Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reasons Why You Should Dump Continental Resources Right Now
    Zacks

    Reasons Why You Should Dump Continental Resources Right Now

    Escalating production expenses per barrel of oil equivalent are affecting Continental's (CLR) bottom line.

  • Why Continental Resources (CLR) Could Be Positioned for a Slump
    Zacks

    Why Continental Resources (CLR) Could Be Positioned for a Slump

    Continental Resources (CLR) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.

  • New Strong Sell Stocks for September 4th
    Zacks

    New Strong Sell Stocks for September 4th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today

  • Why Oil Stocks Got Crushed in August
    Motley Fool

    Why Oil Stocks Got Crushed in August

    Several issues weighed on the oil market.

  • Continental Resources (CLR) Down 10.7% Since Last Earnings Report: Can It Rebound?
    Zacks

    Continental Resources (CLR) Down 10.7% Since Last Earnings Report: Can It Rebound?

    Continental Resources (CLR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Parsley Energy Rewards Investors With Dividend Initiation
    Zacks

    Parsley Energy Rewards Investors With Dividend Initiation

    Parsley Energy (PE) further plans to boost its capital efficiency by 12-14% via trimming high-tech and big-budget development procedures.

  • Is Continental Resources, Inc.’s (NYSE:CLR) 10% ROCE Any Good?
    Simply Wall St.

    Is Continental Resources, Inc.’s (NYSE:CLR) 10% ROCE Any Good?

    Today we are going to look at Continental Resources, Inc. (NYSE:CLR) to see whether it might be an attractive...

  • Energy's Dumb Money May Be Wising Up
    Bloomberg

    Energy's Dumb Money May Be Wising Up

    (Bloomberg Opinion) -- When the market doesn’t go your way, there’s a certain deflective comfort to be found in blaming the market. The slump in energy stocks has spurred some talk of getting out of public markets altogether – even as one company, Saudi Aramco, is apparently considering finally taking a giant plunge into them. Conflicting signals, yes, but united in one important aspect. Harold Hamm, CEO of fracker Continental Resources Inc., was asked on the latest earnings call what value there was in the company remaining public. The stock has fallen by more than half since last October to about $30, while the consensus target is about $51, according to figures compiled by Bloomberg. Hamm responded he didn’t see a lot of value in it “in today’s market,” and the analyst commiserated on the herd’s apparent short-sightedness, saying “there’s clearly something broken there.”Over in the power sector, Vistra Energy Corp.’s CEO, Curtis Morgan, fielded a similar question for similar reasons. While professing “faith” in public markets, he added that going private must be considered if the stock’s perceived discount doesn’t ultimately close.There are specific reasons why this question was asked of these two companies. Hamm owns almost 77% of Continental anyway, so the free float is currently valued at just $2.8 billion. Vistra, meanwhile, has private equity deep in its DNA, being one piece resulting from the 2007 buyout of TXU Corp. and run by an alumnus of Energy Capital Partners LLC.Public markets aren’t paragons of rationality, with the wisdom of the crowd repeatedly giving way to the mania of the mob. But it’s tough to argue the market is “broken” here. After all, if it’s irrational now, then wasn’t that also the case five years ago, when Continental traded at about $80 just as oil prices began to slip? Recall the company sold its hedging book around that time, ditching its insurance against an oil crash, with Hamm in November 2014 telling, coincidentally, the same analyst:… We feel like we're at the bottom rung here on the [oil] prices and we'll see them recover pretty drastically, pretty quick.Clearly, there isn’t a public-market monopoly on getting stuff wrong.The private market has its own checkered record in energy. There have been obvious blowups, such as KKR & Co. Inc.’s forays with Samson Resources Corp. and, of course, TXU. Vistra’s sector, merchant generation, has a long history of keeping bankruptcy judges busy, which is precisely why it’s one of only two public companies left – and why both are diversifying into more stable retail operations.Continental and Vistra have sold off for similar and quite rational reasons. Oil and gas prices are in the tank, and forecasts for Continental’s earnings take their cue from that. Similarly, as expectations of a hot and profitable summer in the Texas power market have cooled off, so Vistra’s stock has dropped with power futures.This cuts both ways, and investors with a bullish view on energy prices are free to swoop in. They haven’t. That may reflect such ordinary things as fear of a recession, but I think it has more to do with a deterioration in one longstanding reason to own energy stocks: gaining exposure to the underlying commodity.Chalk it up to a mixture of hindsight and foresight. Investors have noticed, especially with E&P companies, that past windfalls generated by price rallies tended to accrue to drilling budgets and executive compensation instead of them. Looking ahead, fundamental shifts in the energy market – from shale to renewables to peak demand forecasts to trade wars – inject volatility and raise doubts about long-term pricing. Rather than put a big multiple on future earnings tied to commodity prices and growth, investors prioritize near-term free cash flow that can underpin dividends – show me the money, in other words.You can see this in E&P valuation multiples. Traditionally, these swung low when oil prices were very high, in anticipation of an inevitable cyclical downswing, and rose when prices fell, pricing in the next recovery. In this latest cycle, however, that relationship has changed. When oil prices fell sharply in 2015 and 2016, valuation multiples soared (and equity issuance spiked). But when oil dropped in late 2018 and this summer, multiples fell alongside it.Similarly, while Bloomberg NEF reports Texas’ wholesale electricity market is the tightest it’s been since the lucrative summer of 2011, investors aren’t paying up for the option in Vistra’s stock. That may be a trust thing, in part, as the timetable for deleveraging set by Vistra when it bought Dynegy Inc. has slipped. But it also reflects the quite reasonable concern that new renewable capacity, especially solar power, could loosen Texas’ electricity market quite quickly – as has happened in the past.The higher risks around energy earnings and damaged trust means investors demand more to buy into them – meaning a higher cost of capital expressed in lower valuations.Herein lies a lesson for Saudi Arabian Oil Co., to give it its full name. The seemingly endless saga of Aramco’s IPO has been dogged by the $2 trillion market-cap target voiced by Prince Mohammed Bin Salman in 2016. As I wrote here, that number reflected a simplistic valuation of Aramco’s vast reserves, even though today’s oil investors prioritize dividends partly because they suspect barrels not due to be produced for another few decades may never see the light of day. Just like earnings streams for Continental and Vistra, the benefit of the doubt, expressed as a high multiple, has diminished.Talk of an Aramco IPO was revived, somewhat jarringly, in the same week Saudi officials were trying to talk up sagging oil prices. Maybe the IPO talk remains just that, but it could also mean Saudi Arabia may actually go ahead, even if that finally buries the $2 trillion fantasy. Facing chronic deficits, Riyadh could use the money; and, as cynics often contend, the public market is where the dumb – that is, cheap – money is to be found. The one catch is that, when it comes to energy, the dumb money looks a little wiser these days.To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis 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/opinion©2019 Bloomberg L.P.

  • Continental's (CLR) Q2 Earnings Miss on Lower Oil Prices
    Zacks

    Continental's (CLR) Q2 Earnings Miss on Lower Oil Prices

    Continental Resources' (CLR) second-quarter 2019 results are affected by lower commodity price realizations and higher operating expenses.

  • Thomson Reuters StreetEvents

    Edited Transcript of CLR earnings conference call or presentation 6-Aug-19 4:00pm GMT

    Q2 2019 Continental Resources Inc Earnings Call

  • Oilprice.com

    Shale Bloodbath Continues: Continental Loses Half Its Market Value In 10 Months

    Continental Resources has lost around US$15 billion of its market capitalization since October 2018, shedding more than half of its value as investors are losing faith

  • PR Newswire

    Continental Resources Announces Partial Redemption Of 5% Senior Notes Due 2022

    OKLAHOMA CITY, Aug. 7, 2019 /PRNewswire/ -- Continental Resources, Inc. (CLR) ("Continental" or the "Company") announced today that it will redeem $500 million in aggregate principal amount, representing approximately 31% of the $1.6 billion in aggregate principal amount currently outstanding, of its 5% Senior Notes due 2022 (the "Notes") on September 12, 2019, the redemption date for the Notes. The redemption price for the Notes called for redemption will be equal to 100.833% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date in accordance with the terms of the Notes and the indenture under which the Notes were issued. The Notes to be redeemed will be selected in accordance with the procedures of The Depository Trust Company.

  • Continental Resources Inc (CLR) Q2 2019 Earnings Call Transcript
    Motley Fool

    Continental Resources Inc (CLR) Q2 2019 Earnings Call Transcript

    CLR earnings call for the period ending June 30, 2019.

  • Oil Struggles As Markets Rocked By Trade War
    Oilprice.com

    Oil Struggles As Markets Rocked By Trade War

    Oil prices have had a tough start to the week as the trade war between China and the U.S. intensified and the Treasury Department labelled China a currency manipulator

  • Reuters

    UPDATE 1-Continental Resources to drop seven rigs in Oklahoma citing efficiency gains

    Independent shale producer Continental Resources on Tuesday said it will decrease the number of rigs it operates in Oklahoma to 12 from 19 this year, citing improved productivity. "The key thing here is it emphasizes the efficiency gains we've received from our rigs," Continental President Jack Stark said during an earnings call with investors. U.S. shale production has climbed to record levels, even as oil companies are running fewer rigs.

  • Continental Resources (CLR) Q2 Earnings Miss Estimates
    Zacks

    Continental Resources (CLR) Q2 Earnings Miss Estimates

    Continental Resources (CLR) delivered earnings and revenue surprises of -1.67% and 3.63%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?