Cimarex (XEC) is Upgraded by Citigroup to Buy

Cimarex (XEC) is Upgraded by Citigroup to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

Cimarex Energy Co. has dropped 13.75% during the last 3-month period . Year-to-Date the stock performance stands at -15.2%.

Cimarex Energy Co (NYSE:XEC) has lost 2.42% during the past week and dropped 21.46% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 1.61%. Cimarex Energy Co (NYSE:XEC) has underperformed the index by 19.62% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of Cimarex Energy Co (NYSE:XEC) ended Thursday session in red amid volatile trading. The shares closed down 0.13 points or 0.15% at $89.38 with 896,538 shares getting traded. Post opening the session at $88.91, the shares hit an intraday low of $88.54 and an intraday high of $90.76 and the price vacillated in this range throughout the day. The company has a market cap of $8,452 million and the number of outstanding shares have been calculated to be 94,559,630 shares. The 52-week high of Cimarex Energy Co (NYSE:XEC) is $132.18 and the 52-week low is $85.

Currently the company Insiders own 2% of Cimarex Energy Co shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.61% . Institutional Investors own 95.48% of Cimarex Energy Co shares. During last six month period, the net percent change held by insiders has seen a change of -14.98%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Burford G Mark, (VP and Chief Financial Officer) of Cimarex Energy Co, unloaded 1,000 shares at an average price of $106.75 on December 10, 2015. The total amount of the transaction was worth $106,750, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Cimarex Energy Co., is an oil and gas exploration and production company. The Companys operations are focused in two main areas: the Mid-Continent region and the Permian Basin. The Mid-Continent region consists of Oklahoma, the Texas Panhandle, and southwest Kansas. Its Permian Basin region encompasses west Texas and southeast New Mexico. It also has operations in the Gulf Coast area, primarily in southeast Texas. As of December 31, 2012, its proved oil and gas reserves totaled 2.3 trillion cubic feet equivalent, consisting of 1.3 trillion cubic feet of gas and 168 million barrels of oil and natural gas liquids (liquids). Of total proved reserves, 45% are liquids and 80% are classified as proved developed. The wells it operates account for 68% of total proved reserves and approximately 80% of production. In July 2014, Cimarex Energy Co announced the acquisition of Western Oklahoma assets primarily located in the Cana-Woodford shale play.