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CLR Continental Resources Inc

Continental Resources, Inc. engages in the exploration, development and production of crude oil and natural gas. It focuses on the operations in the locations including MT Bakken; Red River Unites; STACK; Arkoma Woodford and SCOOP. The company was founded by Harold G. Hamm in 1967 and is headquartered in Oklahoma City, OK.

Company profile

Ticker
CLR
Exchange
Website
CEO
William B. Berry
Employees
Incorporated
Location
Fiscal year end
Former names
CONTINENTAL RESOURCES INC
SEC CIK
IRS number
730767549

CLR stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

28 Apr 21
30 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 96.06M 96.06M 96.06M 96.06M 96.06M 96.06M
Cash burn (monthly) (positive/no burn) 35.13M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 140.49M n/a n/a n/a n/a
Cash remaining n/a -44.43M n/a n/a n/a n/a
Runway (months of cash) n/a -1.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 34.715 100 3.47K 13,430,008
18 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 34.4239 7,986 274.91K 13,429,908
17 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 34.9522 10,600 370.49K 13,421,922
17 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 34.3893 57,800 1.99M 13,411,322
16 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 37.1017 41,167 1.53M 13,353,522
16 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 36.4844 93,833 3.42M 13,312,355
15 Jun 21 Hamm Harold Common Stock Buy Aquire P No No 36.3814 135,000 4.91M 13,218,522
9 Jun 21 Eric Spencer Eissenstat Common Stock Sell Dispose S No No 35.9345 20,000 718.69K 228,404
19 May 21 McNabb John T II Common Stock Grant Aquire A No No 0 6,873 0 52,673
19 May 21 Taylor Timothy Garth Common Stock Grant Aquire A No No 0 6,873 0 53,616

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 252 260 -3.1%
Opened positions 43 52 -17.3%
Closed positions 51 41 +24.4%
Increased positions 71 62 +14.5%
Reduced positions 91 103 -11.7%
13F shares
Current Prev Q Change
Total value 1.3B 1.13B +15.2%
Total shares 50.34M 51.21M -1.7%
Total puts 1.65M 2.67M -38.0%
Total calls 1.37M 2.51M -45.4%
Total put/call ratio 1.2 1.1 +13.6%
Largest owners
Shares Value Change
Vanguard 5.64M $145.78M +3.9%
BLK Blackrock 4.97M $128.63M +21.2%
STT State Street 4.43M $114.55M +19.7%
Smead Capital Management 4.22M $109.25M +36.5%
Lord, Abbett & Co. 3.58M $92.67M +87.0%
Dimensional Fund Advisors 1.75M $45.17M +10.2%
NTRS Northern Trust 1.48M $38.26M +2.6%
BAC Bank Of America 1.33M $34.5M +12.1%
Earnest Partners 1.11M $28.71M +1.3%
Arrowstreet Capital, Limited Partnership 1.08M $27.99M -64.0%
Largest transactions
Shares Bought/sold Change
Arrowstreet Capital, Limited Partnership 1.08M -1.93M -64.0%
Lord, Abbett & Co. 3.58M +1.67M +87.0%
Smead Capital Management 4.22M +1.13M +36.5%
BLK Blackrock 4.97M +870.13K +21.2%
STT State Street 4.43M +729.68K +19.7%
Impala Asset Management 0 -524.78K EXIT
State Of Wisconsin Investment Board 510.78K +496.54K +3487.9%
Balyasny Asset Management 458.04K +458.04K NEW
D. E. Shaw & Co. 576.16K -428.31K -42.6%
First Trust Advisors 699K +426.82K +156.8%

Financial report summary

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Risks
  • Substantial declines in commodity prices or extended periods of low commodity prices adversely affect our business, financial condition, results of operations and cash flows and our ability to meet our capital expenditure needs and financial commitments.
  • Our business operations, financial position, results of operations, and cash flows have been and may continue to be materially and adversely affected by the COVID-19 pandemic.
  • Our producing properties are located in limited geographic areas, making us vulnerable to risks associated with having geographically concentrated operations.
  • Drilling for and producing crude oil and natural gas are high risk activities with many uncertainties that could adversely affect our business, financial condition or results of operations. We may not be insured for, or our insurance may be inadequate to protect us against, these risks.
  • Reserve estimates depend on many assumptions that may turn out to be inaccurate. The present value of future net revenues from our proved reserves will not necessarily be the same as the current market value of our estimated crude oil and natural gas reserves. Any material inaccuracies in our reserve estimates or underlying assumptions will materially affect the quantities and present value of our reserves. The Company’s current estimates of reserves could change, potentially in material amounts, in the future due to changes in commodity prices, business strategies, and other factors. Additionally, unless we replace our crude oil and natural gas reserves, our total reserves and production will decline, which could adversely affect our cash flows and results of operations.
  • Our business depends on crude oil and natural gas transportation, processing, refining, and export facilities, most of which are owned by third parties.
  • Our exploration, development and exploitation projects require substantial capital expenditures. We may be unable to obtain needed capital or financing on acceptable terms, which could lead to a decline in our crude oil and natural gas reserves, production and revenues.
  • The unavailability or high cost of drilling rigs, well completion crews, water, equipment, supplies, personnel and field services could adversely affect our ability to execute our exploration and development plans within budget and on a timely basis.
  • We have been an early entrant into new or emerging plays. As a result, our drilling results in these areas are uncertain, and the value of our undeveloped acreage will decline if drilling results are unsuccessful.
  • We have limited control over the activities on properties we do not operate.
  • We may be subject to risks in connection with acquisitions, divestitures, and joint development arrangements.
  • Volatility in the financial markets or in global economic conditions, including consequences resulting from domestic political uncertainty, geopolitical events, international trade disputes and tariffs, and health epidemics could adversely impact our business.
  • Competition in the crude oil and natural gas industry is intense, making it more difficult for us to acquire properties, market crude oil and natural gas and secure trained personnel.
  • Severe weather events and natural disasters could have a material adverse effect on our business, financial condition, results of operations and cash flows.
  • Terrorist activities could materially and adversely affect our business and results of operations.
  • Our revolving credit facility and indentures for our senior notes contain certain covenants and restrictions that may inhibit our ability to make certain investments, incur additional indebtedness and engage in certain other transactions, which could adversely affect our ability to meet our goals.
  • The inability of joint interest owners, significant customers, and service providers to meet their obligations to us may adversely affect our financial results.
  • We are subject to certain complex federal, state and local laws and regulations in areas other than environmental protection and occupational safety and health that could result in increased costs, operating restrictions or delays, limitations or prohibitions on our ability to develop and produce reserves, or expose us to significant liabilities.
  • Climate change activism, energy conservation measures, or initiatives that stimulate demand for alternative forms of energy could reduce the demand for the crude oil and natural gas we produce.
  • We are involved in legal proceedings that could result in substantial liabilities.
Management Discussion
  • Financial and operating highlights for the first quarter of 2021 are summarized below. Our first quarter results underscore our continued focus on maximizing cash flow generation, reducing debt, maintaining low-cost capital efficient operations, achieving consistent asset performance, and delivering shareholder capital returns.
  • •Generated $1.04 billion in cash flows from operations, a 57% increase over the 2020 first quarter;
  • •Continued to maintain low cost operations, with production expenses averaging $3.35 per Boe for the quarter;
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