Brokerage Firm Rating Update on Cimarex Energy Co (XEC)

Cimarex Energy Co (XEC) : Zacks Investment Research ranks Cimarex Energy Co (XEC) as 3, which is a Hold recommendation. 15 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 23 research analysts is 1.7, which indicates as a Buy.

Cimarex Energy Co (XEC) : 26 investment research analysts covering Cimarex Energy Co (XEC) have an average price target of $140.27 for the near short term. The highest target price given by the Brokerage Firm to the stock is $182 and the lowest target is $81 for the short term. Analysts expect the variance to be within $23.16 of the average price.


For the current week, the company shares have a recommendation consensus of Buy. Also, Wells Fargo initiates coverage on Cimarex Energy Co (NYSE:XEC). Wells Fargo has a Outperform rating on the shares. The rating by the firm was issued on August 31, 2016.

Cimarex Energy Co (NYSE:XEC): stock was range-bound between the intraday low of $134.04 and the intraday high of $136.44 after having opened at $135.44 on Wednesdays session. The stock finally closed in the red at $135.44, a loss of -0.51%. The stock remained in the red for the whole trading day. The total traded volume was 710,974 shares. The stock failed to cross $136.44 in Wednesdays trading. The stocks closing price on Thursday was $135.26.

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.

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