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One of my favorite oil stocks just reported its first quarter earnings. Both sales and earnings came in higher than expected, thanks to strong oil production and top-tier efficiency ratios. Nonetheless, the Continental Resources (CLR) declined by more than 4% after earnings after being up immediately after the earnings release. This in addition to an underperformance compared to the oil price provides investors with a very interesting buying opportunity. And, traders are not alone since the chairman and CEO Harold Hamm has invested more than $70 million in the stock this year.