Cimarex Energy (XEC) Update - August 17
Posted: Mon Aug 17, 2020 12:16 pm
We will be publishing an updated profile on Cimarex late today.
~70% of the Company's production is now natural gas and NGLs. Those commodity prices are now MUCH HIGHER than the Wall Street Gang is using to value this company and First Call's price target is now $39.16.
XEC is trading at $28.75 this morning. There is a lot of upside to the share price if ngas strip prices hold and I think the risk is to the upside for gas and ngl prices.
~70% of the Company's production is now natural gas and NGLs. Those commodity prices are now MUCH HIGHER than the Wall Street Gang is using to value this company and First Call's price target is now $39.16.
XEC is trading at $28.75 this morning. There is a lot of upside to the share price if ngas strip prices hold and I think the risk is to the upside for gas and ngl prices.