CLR - Continental Resources posts Q1 beat reinstates dividend raises FCF guidance

Continental Resources (CLR) +2.4% post-market after easily beating expectations for Q1 earnings and revenues, reinstating its quarterly dividend and raising free cash flow guidance.The company's board approved the reinstatement of the quarterly dividend at $0.11/share, payable on May 24.Continental now expects to generate $3.1B of cash flow from operations and $1.7B of free cash flow for the full year, a ~30% increase to projected cash flow from operations vs. original guidance.Given the significant annual cash flow generation, Continental says it is accelerating its debt reduction and projects debt below $4B by year-end 2021; total debt already had been reduced to $4.97B as of March 31.Q1 total production fell 15% Y/Y to average 307.9K boe/day, with oil output -24% to 151.9K bbl/day and natural gas production -2.5% to 936.5M cf/day.Q1 overall average realized price soared 76% Y/Y to $43.11/boe, with the oil sales price rising 34% to $53.09/bbl and the natural gas

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Continental Resources posts Q1 beat, reinstates dividend, raises FCF guidance