| What Falling Estimates & Price Mean for Cimarex Energy (XEC) | |
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Similar to wise buying decisions, exiting certain underperformers at the right time helps maximize portfolio returns. Selling off losers can be difficult, but if both the share price and estimates are falling, it could be time to get rid of the security before more losses hit your portfolio.
One such stock that you may want to consider dropping is Cimarex Energy Co. XEC, which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in XEC.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 7 estimates moving down in the past 30 days, compared to 2 upward revisions, with estimates widening from a loss of 48 cents per share a month ago to its current level of a loss of 56 cents per share.
Also, for the current quarter, Cimarex Energy has seen 6 downward estimate revisions versus 2 revisions in the opposite direction, dragging the consensus estimate down to a loss of 22 cents a share from a loss of 16 cents per share over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 11.3% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Oil-US Exploration & Production industry, you may instead consider a better-ranked stock - Contango Oil & Gas Company MCF. The stock currently holds a Zacks Rank #1 (Strong Buy) and may be better selection at this time.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CIMAREX ENERGY (XEC): Free Stock Analysis Report CONTANGO OIL&GS (MCF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Cimarex Energy Co.
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CODE : XEC |
ISIN : US1717981013 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cimarex Energy is a producing company based in United states of america. Cimarex Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 8.3 billions as of today (€ 7.2 billions). Its stock quote reached its highest recent level on May 23, 2018 at US$ 99.89, and its lowest recent point on September 30, 2021 at US$ 87.20. Cimarex Energy has 95 438 121 shares outstanding. |