Cimarex Energy Co (NYSE:XEC) : 14 brokerage houses believe that Cimarex Energy Co (NYSE:XEC) is a Strong Buy at current levels. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Cimarex Energy Co (NYSE:XEC). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 19 Wall Street Analysts endorse the stock as a Buy with a rating of 1.58.
Cimarex Energy Co (NYSE:XEC) : The highest short term price target forecast on Cimarex Energy Co (NYSE:XEC) is $177 and the lowest target price is $75. A total of 18 equity analysts are currently covering the company. The average price of all the analysts is $124.44 with a standard deviation of $24.13.
For the current week, the company shares have a recommendation consensus of Buy. Also, Wunderlich maintains its rating on Cimarex Energy Co (NYSE:XEC). The global brokerage major raises the current price target from $105 per share to $122 per share. Analysts at the Wunderlich have a current rating of Buy on the shares. The rating by the firm was issued on May 6, 2016.
Cimarex Energy Co (NYSE:XEC): stock turned positive on Tuesday. Though the stock opened at $112.88, the bulls momentum made the stock top out at $115.514 level for the day. The stock recorded a low of $112.23 and closed the trading day at $115.2, in the green by 5.21%. The total traded volume for the day was 1,134,756. The stock had closed at $109.5 in the previous days trading.
In an insider trading activity, The (Executive VP, COO), of Cimarex Energy Co, Albi Joseph R had unloaded 3,500 shares at $114.66 per share in a transaction on June 14, 2016. The total value of transaction was $401,310. The Insider information was revealed by 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.