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Sunday, January 24, 2021

Continental Resources Inc. (NYSE:CLR) is Waving the Bear Flag

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Continental Resources Inc. (CLR) shares are trading at lower $16.88 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $15.82.

To add more color to this target, the company’s high over the last year is $36.20 and the low is $6.90. Over the last 52 weeks, CLR is down -46.92% while the S&P 500 is up 15.29%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CLR reported a profit of 31.89 million. Continental Resources Inc. also saw revenues decrease to $692.37 million. In addition, CLR has free cash flow of $890.14 million as of 09-2020. The company’s EBITDA came in at $426.27 million which compares well with its peers.

CLR booked profit margins of -10.50%, its Return on Equity (ROE) is -4.90%, and its Return on Assets is -2.00%. All told, it is clear that, CLR needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CLR has a short ratio of 5.57 and outstanding shares of 360.26M.

Company Outlook

CLR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.37 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.87. Continental Resources Inc. CLR also noted assets of $14.72 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CLR has historically followed its peers on positive news.

All told, Continental Resources Inc. CLR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CLR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Continental Resources Inc. CLR is now commanding a market cap of 6.42B and a float of 63.25M. CLR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CLR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CLR, either long or short, and we have not been compensated for this article.

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