This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

7 Stocks Cheering the Keystone Pipeline's Demise

Continental Resources

Description: This $14 billion dollar, Enid, Okla- based company is one of the first and largest exploration companies in the shale oil and gas-rich Williston Basin region of North Dakota and Montana.

Potential Upside in 2012: Roughly and easily 20%, according to Bill Gunderson, president of Gunderson Capital Management.

Stock Price (Jan. 23 Close): $74.45

TheStreet Ratings Grade: Buy. TheStreet Ratings Team says that Continental Resources has "significantly" grown sales and net income, outpacing the average growth rates of its competition. In addition, stockholders' equity soared 93.68% in the third-quarter from a year ago. But the analysts note that the company's third-quarter liquidity decreased from the same period last year.

Gunderson's View: Even though the stock has already soared over 150% in the last three years, Gunderson remains long in them. He believes that Continental Resources can easily spike to the $90 range before the end of the year with the help of a surprise denial of the Keystone pipeline. Delays in sending Canadian oil to the U.S. means less competition for this U.S. oil shale play.

Gunderson, for one, doesn't think that alternative energy stocks could receive any added benefit from such an event due to their "lousy" business models.

Continental Resources said this week that its January production continues to accelerate at more than 80,000 barrels of oil equivalent a day (Boepd). The company also said that in the fourth quarter, production rose 57% to 75,219 Boepd from 48,034 the same time last year. Crude oil accounted for 72% of Continental's fourth quarter 2011 production as the company successfully drilled the North Dakota Bakken and Anadarko Woodford, Okla. shale formations. Following the Continental report, Stifel Nicolaus analysts upgraded their earnings per share estimates for the company's first quarter to 78 cents from 73 cents and full-year to $3.50 from $3.16.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

6 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
HEK $0.00 0.00%
BRK.A $217,804.00 0.14%
BRK.B $144.33 0.01%
CLR $45.32 3.80%
EEQ $36.51 0.36%


DOW 17,687.21 -88.91 -0.50%
S&P 500 2,059.11 -8.78 -0.42%
NASDAQ 4,870.1080 -30.7770 -0.63%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs