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

3 Aug 20
6 Aug 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Jun 20 Mar 20 Dec 19 Sep 19
Revenue 175.66M 880.8M 1.2B 1.1B
Net income -242.13M -186.78M 194.11M 157.42M
Diluted EPS -0.66 -0.51 0.53 0.43
Net profit margin -138% -21.21% 16.24% 14.26%
Operating income -296.78M -193.59M 293.88M 278.72M
Net change in cash -510.94M 478.2M 4.14M -171.22M
Cash on hand 6.66M 517.6M 39.4M 35.26M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 4.63B 4.71B 3.12B 1.98B
Net income 774.47M 989.7M 789.45M -399.68M
Diluted EPS 2.08 2.64 2.11 -1.08
Net profit margin 16.72% 21.01% 25.30% -20.18%
Operating income 1.26B 1.59B 449.4M -287.53M
Net change in cash -243.35M 238.85M 27.26M 5.18M
Cash on hand 39.4M 282.75M 43.9M 16.64M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
7 Jul 20 Hamm Harold Common Stock Buy Aquire P No 16.5532 102,869 1.7M 12,293,669
6 Jul 20 Hamm Harold Common Stock Buy Aquire P No 17.5655 1,425,341 25.04M 12,190,800
2 Jul 20 Hamm Harold Common Stock Buy Aquire P No 18.5005 145,551 2.69M 10,765,459
2 Jul 20 Hamm Harold Common Stock Buy Aquire P No 18.0833 1,006,088 18.19M 10,619,908
1 Jul 20 Hamm Harold Common Stock Buy Aquire P No 17.6816 69,256 1.22M 9,613,820
1 Jul 20 Hamm Harold Common Stock Buy Aquire P No 16.9541 1,064,418 18.05M 9,544,564
30 Jun 20 Hamm Harold Common Stock Buy Aquire P No 17.3074 650,996 11.27M 8,480,146
30 Jun 20 Hamm Harold Common Stock Buy Aquire P No 16.5583 382,801 6.34M 7,829,150
29 Jun 20 Hamm Harold Common Stock Buy Aquire P No 16.3513 330,172 5.4M 7,446,349
29 Jun 20 Hamm Harold Common Stock Buy Aquire P No 15.8347 637,782 10.1M 7,116,177
21.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 290 326 -11.0%
Opened positions 52 50 +4.0%
Closed positions 88 58 +51.7%
Increased positions 124 110 +12.7%
Reduced positions 71 108 -34.3%
13F shares
Current Prev Q Change
Total value 3.81B 17.35B -78.0%
Total shares 76.84M 73.74M +4.2%
Total puts 2.04M 2.42M -16.1%
Total calls 2.1M 2.16M -2.5%
Total put/call ratio 1.0 1.1 -14.0%
Largest owners
Shares Value Change
N Price T Rowe Associates 16.43M $125.49M +44.3%
Vanguard 7.84M $59.91M +5.0%
BLK BlackRock 6.78M $51.78M +30.9%
STT State Street 5.13M $39.16M +21.6%
D. E. Shaw & Co. 3.32M $25.33M -21.1%
Two Sigma Advisers 2.47M $18.89M +98.6%
GS Goldman Sachs 1.54M $11.76M +139.0%
Dimensional Fund Advisors 1.53M $11.71M +45.6%
NTRS Northern Trust 1.46M $11.18M +80.4%
BAC Bank of America 1.2M $9.15M +34.2%
Largest transactions
Shares Bought/sold Change
N Price T Rowe Associates 16.43M +5.04M +44.3%
Wellington Management 0 -2.16M EXIT
Encompass Capital Advisors 0 -2.03M EXIT
Millennium Management 734.78K -1.64M -69.1%
BLK BlackRock 6.78M +1.6M +30.9%
Point72 Asset Management 0 -1.43M EXIT
Norges Bank 0 -1.26M EXIT
Two Sigma Advisers 2.47M +1.23M +98.6%
Impala Asset Management 0 -939.36K EXIT
STT State Street 5.13M +912.05K +21.6%

Financial report summary

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Competition
Electro Rent
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.
  • Volatility in the financial markets or in global economic factors, including consequences resulting from domestic political uncertainty, geopolitical events, international trade disputes and tariffs, and health epidemics could adversely impact our business.
  • Our producing properties are located in limited geographic areas, making us vulnerable to risks associated with having geographically concentrated operations.
  • 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.
  • 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.
  • 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.
  • 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.
  • Our business depends on crude oil and natural gas transportation, processing, refining, and export facilities, most of which are owned by third parties.
  • We are subject to complex federal, state and local laws and regulations 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.
  • 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.
  • We have limited control over the activities on properties we do not operate.
  • 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.
  • Our derivative activities could result in financial losses or reduce our earnings.
  • Our Executive Chairman beneficially owns approximately 77% of our outstanding common stock, giving him influence and control in corporate transactions and other matters, including a sale of our Company.
  • 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 may be subject to risks in connection with acquisitions, divestitures, and joint development arrangements.
Management Discussion
  • (1) Net of gain on extinguishment of debt of $46.9 million for the three months ended June 30, 2020. See Notes to Unaudited Condensed Consolidated Financial Statements–Note 8. Long-Term Debt for further discussion.
  • The 51% decrease in crude oil production for the 2020 second quarter was driven by the previously described production curtailments implemented during the quarter coupled with minimal drilling and completion activities, which led to a 7,802 MBbls, or 58%, decrease in Bakken crude oil production, a 526 MBbls, or 22%, decrease in SCOOP crude oil production, and a 509 MBbls, or 59%, decrease in STACK crude oil production.
  • Our production curtailments and minimal drilling and completion activities also impacted our natural gas production, leading to a 22% decrease in natural gas production for the 2020 second quarter compared to the 2019 second quarter. Natural gas production in the Bakken decreased 10,626 MMcf, or 43%, and natural gas production in STACK decreased 9,205 MMcf, or 35%, from the prior year second quarter. These decreases were partially offset by a 3,607 MMcf, or 15%, increase in SCOOP natural gas production.
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Removed: aforementioned, Broadway, component, initial, loan, operational, pace, recovery, reserved, twelve, unhedged