CLR 3.8 06/01/24

Continental Resources Inc

Credit, Energy


Presented:01/29/2016
Price:N/A
Cap:N/A
Current Price:$74.27
Cap:N/A

Presented

Date01/29/2016
PriceN/A
Market CapN/A
Ent ValueN/A
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/SN/A
Ave Daily VolN/A
Short IntN/A

Current

Price$74.27
Market CapN/A

Publicly traded companies mentioned herein: Continental Resources Inc (CLR)

Highlights

The presenter said he has very little in the way of equity exposure on right now. E&P stocks appear to be extremely expensive and based on pure NAVs/ fundamentals (at the present strip) there appears to be “70% downside for everything, even the ‘good’ ones.” Multiples to EBITDA are “crazy high” and in general high yield has been awful too (many bonds have been cut in half). However, there is the potential to create real value through the debt of some of the companies in the industry. For example, Continental is under 3x levered and has bonds trading in the 60s with low teens (%) YTMs that are likely worth par with oil at $40/ barrel (long-term price deck), in his opinion.

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Idea Discussion

Commentor 1 - 2 weeks ago

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