Cimarex Energy Co (XEC) is Initiated by Wells Fargo to Outperform

Cimarex Energy Co (XEC) was Initiated by Wells Fargo to “Outperform”. Wells Fargo advised their investors in a research report released on Aug 31, 2016.

Many Wall Street Analysts have commented on Cimarex Energy Co. Williams Capital Group Initiated Cimarex Energy Co on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $143.Company shares were Reiterated by Canaccord Genuity on Aug 11, 2016 to “Hold”, Firm has raised the Price Target to $ 112 from a previous price target of $94 .Company shares were Reiterated by Barclays on Aug 8, 2016 to “Overweight”, Firm has raised the Price Target to $ 138 from a previous price target of $117 .

On the company’s financial health, Cimarex Energy Co reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.02. The company had revenue of $298.90 million for the quarter, compared to analysts expectations of $294.18 million. The company’s revenue was down -29.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Cimarex Energy Co opened for trading at $132.54 and hit $134.26 on the upside on Monday, eventually ending the session at $133.5, with a gain of 0.29% or 0.38 points. The heightened volatility saw the trading volume jump to 3,88,519 shares. Company has a market cap of $12,681 M.

In a different news, on Aug 25, 2016, Gary R Abbott (Vice President) sold 7,500 shares at $132.00 per share price. According to the SEC, on Aug 19, 2016, Joseph R Albi (Executive VP, COO) sold 1,500 shares at $130.50 per share price. On Aug 16, 2016, James H Shonsey (VP, Controller) sold 3,000 shares at $131.29 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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. Cimarex’s 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 Company’s Mid-Continent region consists of Oklahoma and the Texas Panhandle. The Mid-Continent region produced around 451.2 MMcfe per day.

Cimarex Energy Co

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