I just finished working on the profile update for Cimarex Energy (XEC). My valuation has increased by $5.00 to $139.00. This compares to First Call's price target of $141.97.
Cimarex is getting fantastic well results in the STACK play, where they are adding another drilling rig. They have de-risked 90,000 acres for Meramec development drilling.
One reason for Cimarex's high per share valuation is because they have relatively few shares outstanding (less than 95 million).
Cimarex is up 130% since I added it to the Sweet 16. It is one of our "Elite Eight" and definitely a "Core Holding" quality company with a VERY STRONG balance sheet. Their two core areas are the Permian and STACK, the two red hot oil plays in North America.
Cimarex Energy - Valuation Increased
Cimarex Energy - Valuation Increased
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group