CLR - Continental Resources: Is The 33% Drop A Buying Opportunity?
Continental Resources (CLR) owns low-cost oil-rich assets in the Bakken field which can generate close to 100% rate of returns at the current oil price environment of $53 a barrel. However, the company carries an above-average debt load. Its weak financial health could get worse if oil prices stay down for an extended period. I believe this isn't reflected in the company's share price and investors should avoid this stock for now.
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The 32% dip in the price of the US benchmark WTI crude since early October has pushed