High beta play on a bullish oil sector
- 2021 ER growth rate of 269.23%
- Expects $3.1B of cash flow from operations and $1.7B of free cash flow for the full year, 30% increase vs original guidance
- Using FCF for debt reduction and projects debt below $4B by year end 2021
- Strong positive estimate revisions for the next several Q's
- From 2019 to 2023, it expects oil equivalent production to see a compound annual growth rate of 8-10%, which will continue to boost FCF
- Most analysts have CLR marked as a Hold @ 31 Avg Target, upgrade cycle could create momentum
This is on my short list, currently no position. Watching for confirmed break of the double top, could see a minor pullback and formation of a cup and handle.
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📌 DISCLAIMER
Stocks, futures and options trading involves substantial risk and can result in losses greater than the original investment. None of the content published by cmacgowan constitutes a recommendation that any particular security, portfolio of securities, transaction or trading strategy is suitable for any specific person. All information is for educational purposes only.
- 2021 ER growth rate of 269.23%
- Expects $3.1B of cash flow from operations and $1.7B of free cash flow for the full year, 30% increase vs original guidance
- Using FCF for debt reduction and projects debt below $4B by year end 2021
- Strong positive estimate revisions for the next several Q's
- From 2019 to 2023, it expects oil equivalent production to see a compound annual growth rate of 8-10%, which will continue to boost FCF
- Most analysts have CLR marked as a Hold @ 31 Avg Target, upgrade cycle could create momentum
This is on my short list, currently no position. Watching for confirmed break of the double top, could see a minor pullback and formation of a cup and handle.
______________________
✅ If you found this idea useful, hit the like button, follow & share.
✅ Follow for swing ideas, trade setups and weekly 0DTE income trades.
✅ Don't hesitate to post comments, opinions and questions.
______________________
📌 DISCLAIMER
Stocks, futures and options trading involves substantial risk and can result in losses greater than the original investment. None of the content published by cmacgowan constitutes a recommendation that any particular security, portfolio of securities, transaction or trading strategy is suitable for any specific person. All information is for educational purposes only.