Cimarex Energy Co (NYSE:XEC) has risen sharply, recording gains of 3.28% in the past 4 weeks. However, the stock has corrected -0.99% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.64% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have rallied 11.40% from its 1 Year high price. On Nov 4, 2015, the shares registered one year high at $124.91 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $116.81 and the 200 Day Moving Average price is recorded at $100.33.
The stock has recorded a 20-day Moving Average of 2.09% and the 50-Day Moving Average is 2.79%.
Cimarex Energy Co (NYSE:XEC): stock turned positive on Friday. Though the stock opened at $116.08, the bulls momentum made the stock top out at $119.12 level for the day. The stock recorded a low of $115.25 and closed the trading day at $118.43, in the green by 3.18%. The total traded volume for the day was 953,917. The stock had closed at $114.78 in the previous days trading.
In an insider trading activity, Albi Joseph R, (Executive VP, COO) of Cimarex Energy Co, unloaded 3,500 shares at an average price of $114.66 on June 14, 2016. The total amount of the transaction was worth $401,310, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Cimarex Energy Co. (Cimarex) is an independent oil and gas exploration and production company. Its operations are located mainly in Oklahoma, Texas and New Mexico. The Companys exploration and production (E&P) activities take place primarily in two areas: the Permian Basin and the Mid-Continent region. The Permian region encompasses west Texas and southeast New Mexico. Cimarexs Permian Basin efforts are located in the western half of the Permian Basin known as the Delaware Basin. In 2014, the Company focused on drilling horizontal wells that yielded oil and liquids-rich gas from the Wolfcamp shale, the Bone Spring formation, and the Avalon shale. The Permian region produced 399 Million cubic feet equivalent (MMcfe) per day in 2014.The Companys Mid-Continent region consists of Oklahoma and the Texas Panhandle. The Mid-Continent region produced around 451.2 MMcfe per day.