Revenue Update on Cimarex Energy Co(NYSE:XEC)

Cimarex Energy Co(NYSE:XEC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $298.87M. Analysts estimated a revenue of $288.39M. Earnings per share were $0.07. Analysts had estimated an EPS of $-0.02.

In a different note, On Jul 14, 2016, Barclays said it Maintains its rating on Cimarex Energy Co. In the research note, the firm Raises the price-target to $116.00 per share. The shares have been rated ‘Overweight’ by the firm. On May 6, 2016, Wunderlich said it Maintains its rating on Cimarex Energy Co. In the research note, the firm Raises the price-target to $105.00 per share. The shares have been rated ‘Buy’ by the firm.

Cimarex Energy Co (XEC) made into the market gainers list on Fridays trading session with the shares advancing 0.75% or 0.97 points. Due to strong positive momentum, the stock ended at $130.77, which is also near the day’s high of $131.21. The stock began the session at $130.56 and the volume stood at 5,37,745 shares. The 52-week high of the shares is $131.78 and the 52 week low is $72.77. The company has a current market capitalization of $12,421 M and it has 9,49,86,852 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, Thomas E Jorden (CEO and President) sold 2,500 shares at $119.87 per share price.Also, On Jun 15, 2016, Joseph R Albi (Executive VP, COO) sold 3,500 shares at $114.66 per share price.On Jun 9, 2016, James H Shonsey (VP, Controller) sold 4,320 shares at $121.45 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.

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