Cimarex Energy Co (XEC) : Traders are bullish on Cimarex Energy Co (XEC) as it has outperformed the S&P 500 by a wide margin of 10.54% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.48%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.45% in the last 1 week, and is up 10.97% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Cimarex Energy Co. is up 12.02% in the last 3-month period. Year-to-Date the stock performance stands at 47.45%. The stock has recorded a 20-day Moving Average of 6.66% and the 50-Day Moving Average is 10.07%.
Cimarex Energy Co (NYSE:XEC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $130.48 and $129.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $131.81. The buying momentum continued till the end and the stock did not give up its gains. It closed at $131.36, notching a gain of 0.41% for the day. The total traded volume was 619,393 . The stock had closed at $130.83 on the previous day.
Also, Citigroup maintains their rating on the shares of Cimarex Energy Co (NYSE:XEC). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $149 per share from $127 per share. The rating by the firm was issued on August 11, 2016.
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.