Cimarex Energy Co (XEC) Receives Price Target

Cimarex Energy Co (XEC) : 25 Wall Street analysts covering Cimarex Energy Co (XEC) believe that the average level the stock could reach for the short term is $139. The maximum price target given is $182 and the minimum target for short term is around $81, hence the standard deviation is calculated at $22.7.

Cimarex Energy Co (XEC) has an average broker rating of 1.7, which is interpreted as a Buy, as rated by 23 equity analysts. Nonetheless, 15 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 other analysts advise a Buy. Nevertheless, the majority of 6 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 considers that the stock is a Sell.


Also, Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Cimarex Energy Co (NYSE:XEC). Citigroup has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $149 per share from a prior target of $127. The rating by the firm was issued on August 11, 2016.

Cimarex Energy Co (NYSE:XEC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $131.53 and $130.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $134.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $134.62, notching a gain of 1.85% for the day. The total traded volume was 913,281 . The stock had closed at $132.18 on the previous day.

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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